For over 25 years, Cardiol Therapeutics’ Founders – David Elsley, Dr. Eldon Smith, and Dr. Anthony Bolton – have had an active interest in the role that inflammation plays in several serious medical conditions, including heart failure. Prior to the formation of Cardiol, the Founders pursued scientific and clinical research in this area and were successful in securing funding to support the development of novel therapeutics from concept through to completion of Phase III multi-center and multi-national clinical trials. Based on an extensive review of the scientific literature conducted in late 2014, including a publication in the Journal of American College of Cardiology¹, the Founders identified cannabidiol as a molecule of interest to investigate in heart failure pathology due to its anti-inflammatory, anti-fibrotic, and cardioprotective properties.
Cardiol was incorporated on January 19, 2017 and in June 2017, the Company entered into an exclusive supply agreement with Dalton Pharma Services of Toronto (“Dalton”) to provide Cardiol’s research and development program with pharmaceutical cannabidiol. Dalton is a Health Canada approved and FDA registered cGMP manufacturer of over 200 Active Pharmaceutical Ingredients (APIs), including pharmaceutical cannabinoids, with manufacturing capability scalable to support all stages of the regulatory process (Phase I, II, III or commercial). During August and September 2018, the Corporation initiated a comprehensive USD $3 million research and development collaboration with TecSalud and Nano4heart, both of the Instituto Tecnológico y de Estudios Superiores de Monterrey, Mexico, combining the significant research capability of TecSalud, with the nanotechnology expertise of Nano4heart and the research and clinical development expertise of Cardiol, for the purpose of working towards a common goal of advancing the treatment of heart failure.
Cardiol Therapeutics went public with an initial public offering and commenced trading on the TSX Exchange on December 20, 2018.
¹Mohanraj Rajesh et al., ‘Cannabidiol Attenuates Cardiac Dysfunction, Oxidative Stress, Fibrosis, and Inflammatory and Cell Death Signaling Pathways in Diabetic Cardiomyopathy’, Journal of the American College of Cardiology 56, no. 25 (14 December 2010): 2115–25, https://doi.org/10.1016/j.jacc.2010.07.033.