The following article is sponsored by Skye Bioscience, Inc. The information contained in this article in no way represents investment advice or opinion on the part of Benzinga or its writers and is intended for informational purposes only.
The beginning of 2021 marked the start of a busy time for cannabinoid biopharmaceutical company Skye Bioscience, Inc. (OTC: SKYE), not the least of which is the company's transition from its previous name, Emerald Biosciences, to its new and ambitious imprimatur.
“I'm excited about this current chapter of the company,” explained Skye Bioscience CEO Punit Dhillon in a recent interview with Benzinga. “The new name reflects a reset for the company that better represents our goal to be a leader in advancing cannabinoid science.”
The new year also introduced to the calendar a series of incoming results from pre-clinical and clinical-enabling studies on Skye Bioscience’s leading glaucoma drug, which is derived from the company’s proprietary modified THC compound. Should the results prove positive, they would pave the way for an Investigational New Drug (IND) application into what is a potentially $7 billion drug category.
According to Dhillon, the studies, which are set to conclude over the next 12 months, look to deliver exciting insights into the safety and efficacy of the locally-administered drug in both reducing and regulating intraocular pressure (IOP) as well as a potentially first-in-class mechanism for protecting optic nerve cells.
A New Approach
With its first-in-class THC-derived compound, the team at Skye is hoping to validate superior IOP-lowering relative to other commercially available drugs in humans. Glaucoma affects nearly 80 million people worldwide and is the leading cause of irreversible blindness.
“Ours is the first and only cannabinoid-derived prodrug designed ...
Full story available on Benzinga.com