SMITHS FALLS, ON, Sept. 19, 2016 /CNW/ - Canopy Growth Corporation
(Canopy Growth) (TSX: CGC) has entered into an agreement with
Delivra Inc. (Delivra) (TSX.V: DVA) to supply Canopy Growth's
operating subsidiaries, including Tweed Inc. and Bedrocan Canada
Inc., with cannabis-infused topical product formulations.
Topical cannabis products have proven market demand but have yet
to be created for the legal medical cannabis market in Canada. By teaming with Delivra, Tweed will be
able to offer customers a unique product suite, produced to
exacting standards and presented alongside a wide and growing range
of cannabis options. Delivra has created a new topical formulation
for this express purpose, to be made exclusively available in
Canada from Tweed.
"Our product lines are about variety," said Bruce Linton, Chairman and CEO of Canopy Growth.
"Increasingly, variety means more than dried cannabis strains. It
means lotions, pills, and other forms of cannabinoid delivery that
don't involve inhaling smoke. Delivra has built a reputation for
innovative and proven leadership in transdermal applications and
we're pleased to be working with them to provide a best-in-class
cannabis delivery solution for our Canadian customers."
Delivra and Canopy Growth are also collaborating on a series of
studies to reinforce the body of scientific evidence surrounding
the transdermal application of cannabinoids. The companies
anticipate that transdermal cannabinoids could be an effective
therapeutic option for a range of conditions.
"Cannabinoid therapy is a rapidly emerging field of medicine,
quickly demonstrating its applicability to a range of acute and
chronic indications, in particular those related to pain
management", said Dr. Joe Gabriele,
founder and CEO of Delivra. "We are very pleased to be working with
Canopy Growth, the Canadian market leader, to provide innovative
topical solutions, both for localized and systemic delivery,
according to the need of the patient and the condition."
Here's to Future Growth.
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 Delivra
Delivra is a developer of transdermal technologies for the delivery
of pharmaceutical and natural molecules, through the skin, rather
than via pills. Delivra manufactures and sells a growing line
of natural topical creams under the LivReliefTM brand, for
conditions such as joint and muscle pain, nerve pain, varicose
veins, wound healing, and sports performance. LivRelief products
are available in pharmacies, grocery chains, and independent health
food stores across Canada, and
on-line at www.livrelief.com. LivRelief products were
launched for on-line sales in the United
States in Q4 2015. In parallel with its consumer
products business, Delivra also has a mandate to license its
unique, proven, and patent-pending delivery platform to global
pharmaceutical companies for the transdermal delivery of third
party active ingredients to treat a broad range of conditions. With
a global transdermal drug delivery market forecast to grow to USD
$40 billion by 2018 (Source: Kelly
Scientific), Delivra believes the licensing opportunity is
robust. Delivra is headquartered in Burlington, Ontario and has a research and
development laboratory in Charlottetown, PEI.
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 the TSX Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Growth Corporation