Hello, there good afternoon you’re watching Proactive London. Joining us today is Graeme McFarlane from Albert Labs, the Chief Commercial Officer at the company. Great to see you again, Graeme, plenty to discuss, but we’re going to kick start this conversation, talking about the conditional listing, what it means for Albert Labs as a company.
Sure. Good to see you again, Katie. So the conditional CSE listing is a very good vehicle for us to attract investment capital, to allow us to deliver our promise as a company that we will get our natural version of psilocybin to cancer patients in need. We will attract, income, revenue, shareholder value, but we never forget at Albert Labs, there are patients at the end of this.
The patients, we are targeting are cancer patients where there is a high unmet need in respect of their treatment, the treatment for mental health conditions, such as distress, which in itself is anxiety, depression, existential crisis. And for the moment, the treatments are available, largely assets arise, are not effective more than 50% of patients who receive it. So there’s a big gap there. And we as a company, intend to research our version of psilocybin in that particular patient cohort and try and make a difference.
And I think that’s a good thing we can do. It’s something we seek to do as a company, as well as of course, using the capital carefully, and attracting value.
Tell us now about the Albert labs, Real-World Evidence strategy.
For the Real-World piece, I’ll divide that into two if I may.
I mean, one is that we’re, de-risking our capital by going down the Real-World Evidence route Real-World Evidence, as opposed to the Randomized Control Trials for RCTs as the known, RWE is a much faster route creating outcomes that allow us to establish the value that psilocybin brings in the real-world setting.
As I say, these are cancer patients, they have had bad news. They’re also trying to cope with their mental health issues. And very often, as I said already current treatments don’t work for them. And they’re living with that now. So, what we are seeking to do through the Real-World Evidence route is evaluate patients taking psilocybin in the real-world setting through the normal programs of intervention that would take place in their home setting. Not at home, but in a hospital setting in their home region. So we’re reflecting on what happens. In the treatment place, if you like. So that’s where we are on that is low risk. It doesn’t take 5, 6, 7, 8 years to bring the outputs to this. It allows us to get it to patients daily and we’ll get results within 18 months.
So that’s very, very fast. And as I say, it does all slopes also de-risk the capital expenditure because we’re not spending tens upon tens and millions of dollars, conducting the RCTs that tend to be quite lengthy and expensive.
And for the second piece, we want to bring this to the market quickly. Speed to market, not just for us as an organization, but for the patients who are in need. As I say, mental health is a national agenda item as is cancer and people need effective treatments and we believe that’s what we’ve got. We want to prove it through Real-World Evidence research.
A busy 18 months ahead.
Yep, absolutely. Absolutely. And hopefully, we’ve got results by then.
Maybe just summarize the next steps for us.
Yeah, sure. I mean, for us to bring our trial to the real-world setting we have to work with the people who are experts in that area. I’m talking about clinicians, academic centers, research specialists, statisticians, economists, all the various metrics you’d expect to see.
And we’ve chosen to engage with Manchester, a lot of the psychedelic work is conducted over London. But we’ve chosen to go north with this. We’ve uncovered a remarkable individual in Dr. Sara Tai who perhaps will get on your program at some point to talk. She is a leading light in the area of psychedelic research and was conducted as a Manchester for that reason.
And the infrastructure exists in, Manchester with, Health Innovation Manchester is driving the innovation agenda. And we’re working with the Christie hospital as well, which is a great feather in our cap. The Christie is the largest oncology unit in Europe, and we are working within that sector, supported by the mental health team as well.
So, you know, that’s an important next step for us and, you know, we are continuing to invest as well. We are investing in this study but also we’re investing in a laboratory up in the south Manchester area and that’s not insignificant. So, you know, we’re improving the capabilities, the skill sets in Manchester also.
So alongside the trial work, we’re giving patients something that works we’re also having an impact on the economy. So a lot of stuff going on there. That’s, that’s the important next steps for us.
Graeme thank you so much for our catch-up. We look forward to our next conversation on your progress there at Albert Labs.
Thank you. That’s Graeme McFarlane there. The Chief Commercial Officer joining us this afternoon.
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