Canopy Growth Corporation has announced that CannScience Innovations Inc. (CSI), operating through a strategic collaboration with the University Health Network, has obtained regulatory approval to conduct research on cannabis. Canopy Growth holds a 33% ownership stake in CSI through its October 2015 acquisition of MedCannAccess.
As part of the launch of research and development activities, Tweed Inc., a wholly-owned subsidiary of Canopy Growth, has made an initial transfer of cannabis to CSI.
"The current regulatory model has evolved to include non-inhaled forms of legal medical cannabis. Researching the next logical steps is a way to be ahead of the curve in a fast-paced industry," said Bruce Linton, Chairman and CEO of Canopy Growth.
With these approvals, and its collaboration with UHN, CSI intends to develop intellectual property related to extraction processes, methods to produce standardized products and new formulations. Once developed, CSI will initiate the required preclinical and clinical testing for approval of new therapeutic products by regulatory bodies in Canada and internationally. CSI may explore a number of product variants, including products related to its exclusive worldwide license of Generex Rapidmist technology platform to develop innovative cannabinoid delivery systems.
For more information:
CannScience Innovations Inc.
MaRS Centre
661 University Avenue, Suite 800
Toronto, Ontario M5G 1M1
Canada
[email protected]
www.cannsci.com
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