Partnership with Entourage Phytolab Will
Create Bedrocan Brazil and Conduct Clinical Trials Pursuant
to Registration of Cannabis-Based Medicines
TORONTO, June 28, 2016 /CNW/ - Canopy Growth Corporation
(TSX.V:CGC) ("CGC" or "Canopy Growth"), announced today the closing
of an agreement with São Paulo-based Entourage Phytolab S.A.
("Entourage"), which will see its wholly-owned subsidiary Bedrocan
Canada Inc. ("Bedrocan Canada"), Bedrocan International BV
(formerly Bedrocan Beheer BV) and local Brazilian partners create a
new company called Bedrocan Brazil S.A., which will facilitate the
importation of Bedrocan's proprietary standardized cannabis
varieties and know-how into the Brazilian market. Additionally,
Canopy Growth will partner with Entourage to develop cannabis-based
pharmaceutical medical products for the Brazilian and international
markets.
Bedrocan Brazil will hold the sole local rights to use the
Bedrocan brand, as well as the genetic material and cultivation
technology of Bedrocan in Brazil. Initially, Bedrocan Brazil
will import cannabis products into Brazil from Canada or the
Netherlands, with a view to eventually establishing domestic
cultivation facilities in Brazil.
"We are extremely excited to be launching this initiative to
bring Bedrocan's world-leading cannabis genetics to patients in a
market with a population in excess of 200 million," said
Marc Wayne, President of Bedrocan
Canada. "The team that comprises Bedrocan Brazil is well positioned
to succeed. They have established themselves as legitimate players
with the technical expertise required to advance Bedrocan's
globally-recognized medical cannabis brand and world leading
cultivation technology in Brazil."
In addition, Canopy Growth will partner with Entourage to use
the medical cannabis provided by Bedrocan Brazil to develop
innovative medical cannabis products for the Brazilian and
international markets. Entourage will be responsible for
developing the standardized cannabis extracts for pre-clinical and
clinical trials. It is anticipated that product clinical trials
will begin in 2016 and be completed by the end of 2017, targeting
submission for market approval by ANVISA, the Brazilian health
surveillance agency, by 2018.
Entourage has obtained authorization from ANVISA for the
research and development of cannabis-based therapeutics, and has
the ability to import cannabis flowers into Brazil for research and development
purposes.
Through in-depth market research and patient outreach, Entourage
has developed an unmatched understanding of the needs of Brazilian
patients and looks forward to serving those needs with world-class
products. Brazilians currently import their medical cannabis
products from other jurisdictions, this partnership will eventually
allow Brazilians to access their medication more efficiently by
moving the production inside Brazil's borders.
"Brazil represents a large
emerging market, and has a favourable regulatory framework for
medical cannabis products as well as competitive clinical trial and
production costs, and for those reasons it's a perfect market for
the Bedrocan brand," said Bruce
Linton, Chairman and CEO of Canopy Growth Corporation.
"Through the Bedrocan International and Canopy Growth partnership,
we've developed a unique offering of expertise here in Canada that's now recognized around the world,
an advantage we will leverage as we continue to pursue global
markets."
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis company,
offering diverse brands and curated cannabis strain varieties in
dried and oil extract forms. Through its wholly-owned subsidiaries,
Tweed, Tweed Farms, and Bedrocan Canada, Canopy Growth operates
three state-of-the-art production facilities with over half a
million square feet of indoor and greenhouse production capacity.
Canopy Growth has established partnerships with leading sector
names in Canada and abroad. For
more information, www.canopygrowth.com
About Entourage Phytolab
Entourage Phytolab is the first Brazilian pharmaceutical
research and development company focused on the creation of
cannabis-based medicines. Its mission is to offer the therapeutic
potential of Cannabis (cannabis sativa) and increase its
accessibility for doctors and patients from Brazil and the world. The company's name is
inspired by the called effect entourage - combined action of
several plant compounds.
About Bedrocan International B.V.
With its headquarters in The
Netherlands, Bedrocan International B.V. is the owner of the
intellectual property on the standardized production
techniques developed through decades of growing experience. It's
the only company in the world currently producing
standardized, whole-flower medicinal
cannabis. Through a combination of stable plant genetics and
proprietary, automated, high-tech production techniques, Bedrocan
International has the capacity to grow varieties that contain
consistent levels of cannabinoids and terpenes every
time. Bedrocan International produces for a number of
international governments which make the medicinal cannabis
available under special access conditions as an unapproved drug.
Bedrocan International strives to bridge the gap between patients'
needs for cannabis and the quality standards of modern medicine.
They do this through an active research program and a commitment to
sharing their knowledge through scientific publication. They
believe herbal cannabis can, and should, meet all of the existing
regulations for medicines.
For more information, www.bedrocan.com
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Often,
but not always, forward looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "estimates", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Canopy Growth Corporation, Tweed
Inc., Tweed Farms Inc. or Bedrocan Canada Inc. to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Examples of
such statements include future operational and production capacity,
the impact of enhanced infrastructure and production capabilities,
and forecasted available product selection. The forward-looking
statements included in this news release are made as of the date of
this news release and Canopy Growth Corp. does not undertake an
obligation to publicly update such forward-looking statements to
reflect new information, subsequent events or otherwise unless
required by applicable securities legislation. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation