Medlab Clinical Limited Retrenches 78% of the Workforce

Medlab Clinical Limited (Medlab) is an Australia-based biotechnology company focused on the development and commercialization of a pharmaceutical delivery platform. The Company is investigating a range of prescription and non-prescription solutions for unmet patient needs across a variety of therapeutic areas, including pain management, mental health, gut health, diabetes, and allergies. The Company’s drug candidates include NanaBis, NanoCBD and NanoCelle. Medlab’s pipeline comprises a range of small and large molecules from repurposing generic medicines to enhancing the delivery of immunotherapies. The Company's lead drug candidate, NanaBis, is under development for cancer bone pain as an alternative to opioid use and NanoCBD for mental stress . The Company also has a drug delivery platform called NanoCelle, which is wholly owned by Medlab and developed in Medlab’s owned Office of the Gene Technology Regulator (OGTR) registered laboratory.