A clinical-stage biotechnology company
Focused on developing innovative anti-inflammatory
therapies for the treatment of cardiovascular disease
TSX: CRDL | NASDAQ: CRDL
WHY CARDIOL THERAPEUTICS?
Cardiol Therapeutics is a clinical-stage life-sciences company focused on the research and clinical development of anti-inflammatory therapies for the treatment of cardiovascular disease (CVD).
· The company has commenced LANCER, a Phase II/III, double-blind, placebo-controlled clinical trial investigating the efficacy and safety of its lead clinical product, CardiolRx™, in 422 hospitalized COVID-19 patients with a prior history of, or risk factors for, CVD.
WHAT DOES THE COMPANY DO?
· Cardiol produces CardiolRx™, an oral cannabidiol formulation that is pharmaceutically manufactured under cGMP.
Cardiol has also received clearance from the FDA for its investigational new drug ("IND") application for a Phase II international trial that will investigate the anti-inflammatory and anti-fibrotic properties of CardiolRx in acute myocarditis, a condition caused by inflammation in heart tissue, which remains a leading cause of sudden cardiac death in people under 35.
It is also developing a subcutaneous formulation of CardiolRx for the treatment of inflammation in the heart that is associated with the deveopment and progression of heart failure.
HOW BIG IS THE PROBLEM IT’S SOLVING?
· Chronic heart failure is the leading cause of death and hospitalization in North America, with associated annual healthcare costs in the U.S. alone exceeding $30bn USD.
HOW BIG IS THE OPPORTUNITY?
There have been recent, high-profile deals with pharma companies in similar areas to Cardiol:
· MyoKardia is now part of Bristol Myers Squibb after being acquired for $13.1 billion USD
· Jazz Pharma recently acquired GW Pharma for $7.2 billion USD.
· In November 2021, Cardiol closed its public offering of units for aggregate gross proceeds of approximately $50 million USD.
· In May 2021, Cardiol completed of its short form prospectus offering of units of the Company for aggregate gross proceeds of approximately $22 million CAD.
· In March 2021, the Company received more than $11m CAD from the exercise of warrants and stock options.
Cardiol has research collaborations focused on developing a subcutaneous cannabidiol formulation for heart failure underway at international centers of excellence, including:
· The Houston Methodist DeBakey Heart & Vascular Center in Texas
· The University of Alberta, Canada
· TecSalud del Tecnológico de Monterrey, Mexico
And on the manufacturing side, CardiolRx™ is manufactured exclusively for Cardiol by Toronto-based Dalton Pharma Services.