Clinical stage Australian-based cannabinoid company Botanix Pharmaceuticals (ASX:BOT) says it has a ne product opportunity for the treatment of papulopustular rosacea.
The company said the product, referred to as BTX 1702, leverages its proprietary drug delivery system Permetrex with synthetic cannabidiol.
Botanix said it has successfully completed formulation development and pre-clinical studies for BTX 1702 and is set to enter the clinic in a Phase 1b papulopustular rosacea study later this year.
"BTX 1702 significantly expands the Company’s dermatology pipeline and this initial study is supported through Botanix’s recent A$40m capital raising, led by US-based institutional investors," it said in a statement.
The company said the new BTX 1702 program will be expedited based on the recent mechanistic data it has generated that showed synthetic cannabidiol exerts powerful anti-inflammatory and antimicrobial actions in skin.
"These studies, along with Botanix’s previous acne clinical data, suggest that synthetic cannabidiol delivered using the Permetrex skin delivery technology could represent a safe and effective new option for rosacea patients," it said.
Rosacea is a chronic inflammatory skin disease that often begins with a tendency to blush or flush more easily than other people. It can progress into many subtypes, including papulopustular rosacea. Papulopustular rosacea is a highly visible chronic inflammatory skin disease characterised by intensely inflamed skin and acne-like breakouts across the face.