Neurotech International (ASX:NTI) secured approval from the Human Research Ethics Committee to conduct a pharmacokinetic study of cannabis-based drug candidate NTI164 in healthy human adults at the CMAX Clinical Research in South Australia, according to a Monday filing with the Australian bourse.

NTI164 is a drug formulation derived from a cannabis strain with low tetrahydrocannabinol content and a combination of cannabinoids, the filing said.

The proposed trial, which follows a pediatric study in neurological disorders, aims to produce clinical data on the metabolism and excretion of NTI164 in the adult human population, according to the filing. It is set to start in the current quarter, with results expected in the first quarter of next year.

Shares rose nearly 8% in afternoon trade Tuesday.

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