28 March 2024
Kanabo Group
Plc
("Kanabo", the "Group" or the "Company")
Expansion of Treat It Clinic to Offer
Mental Health Treatments
Kanabo Group plc (LSE: KNB) is pleased to
announce the expansion of its online clinic, Treat It, to include
specialised mental health treatments. This expansion comes at a
time when national mental health infrastructure is under extreme
pressure, and this service will allow individuals who are suffering
from conditions such as anxiety, PTSD or ADHD to securely access to
treatments through the Group's digital health platform.
As with Treat It's existing pain management
offering, the mental health service will focus on secondary care,
including prescriptions for alternative medications such as medical
cannabis. While studies on the efficacy of medical cannabis in this
area remain nascent, some evidence indicates that medicinal
cannabis may help alleviate symptoms of conditions such as
PTSD.
Mental Health
in the UK
In 2022, around one in six adults experienced
moderate to severe depressive symptoms, an increase from
pre-pandemic levels. In the fourth quarter of 2023, around 22% of
the adult population experienced a high level of anxiety. The
non-profit organisation PTSD Today estimates that around 1 in 10
people in the UK, or around 6.6 million people, might experience
PTSD during their lifetime. Meanwhile, mental health services are
underserved, with the national situation being described as a
crisis or an emergency. This new Clinic offering will provide
patients for whom other therapies and medications may not have
worked with new opportunities to treat their ailments.
Progression in
Line with Half-Year Results
This achievement aligns with the Company's
current corporate goals, as laid out in its Half-Year Results
(published 29 Sept 2023). In 2024, alongside expanding its
secondary care offerings to include specialist mental health
services, Kanabo has launched two in-pharmacy clinics (as announced
on 15 January 2024) to establish a physical presence for its
clinics. The Company plans to continue this momentum by expanding
its primary care services and extending its footprint into the EU
market in the near future.
Avihu Tamir,
CEO, commented: "Since mental health is the
second largest indication for medical cannabis prescriptions in the
UK, our expansion into these services is poised to significantly
increase our patient intake, revolutionising access and treatment
options for those in need."
Dr Mehran
Afshar, Chief Clinical Director of Treat It,
commented: "Mental health is an integral part
of overall well-being, yet it often remains overlooked or
stigmatised. By expanding our digital health platform to include
mental health treatments, we aim to provide patients with access to
alternative therapies and raise awareness and destigmatise these
conditions. Our multidisciplinary team will work closely with
patients to develop personalised treatment plans tailored to their
unique needs and circumstances."
Enquiries:
|
Kanabo Group
plc
Avihu Tamir, Chief Executive Officer
Assaf Vardimon, Chief Financial
Officer
Ian Mattioli, Non-Executive Chair of the
Board
|
via Vigo Consulting
+44 (0)20 7390 0230
|
|
Peterhouse
Capital Limited (Financial Adviser and Broker)
Eran Zucker /
Lucy Williams / Charles
Goodfellow
|
+44 (0)20 7469 0930
|
|
Vigo
Consulting (Financial Public Relations/Investor
Relations)
Jeremy Garcia / Fiona Hetherington / Verity
Snow
kanabo@vigoconsulting.com
|
+44 (0)20 7390 0230
|
About Kanabo
Group plc
Kanabo Group plc (LSE:KNB) is a
digital health company committed to transforming patient care
through its innovative technology platform and specialised
treatment offerings. Since its inception in 2017, Kanabo has been
focused on researching, developing, and commercialising regulated
medicinal cannabis-derived formulations and therapeutic inhalation
devices.
Kanabo's NHS-approved online
telehealth platform, The GP Service, provides patients with video
consultations, online prescriptions, and primary care services.
Leveraging its telehealth capabilities, in February 2023, Kanabo
launched Treat It - an online clinic an online clinic focused on
pain management and mental health treatments.
With its two complementary business
divisions, Kanabo has established itself as an end-to-end digital
health provider, offering telehealth consultations, prescriptions,
alongside the delivery of tailored treatments.
The Company's partially owned
subsidiary, Kanabo Agritec Ltd, is a cultivation consultancy
supporting cannabis businesses in developing new farms through
infrastructural, research, and product guidance. These farms
deliver high-quality raw materials for Kanabo's formulas and
product line.
At Kanabo Group Plc, we are dedicated
to providing patients with the highest quality medical treatments
and more accessible healthcare experiences.
Visit www.kanabogroup.com
for more information.