SMITHS FALLS, Ontario,
May 7, 2019 /PRNewswire/
-- Canopy Growth Corporation ("Canopy Growth" or the
"Company") (TSX: WEED) (NYSE: CGC) is pleased to introduce Spectrum
Therapeutics, a new global brand that will encompass all of the
Company's ongoing medical and research operations including
Spectrum Cannabis, Canopy Health Innovations (CHI), and the most
recent addition to Canopy Growth's medical portfolio, Bionorica
SE-founded C3 Cannabinoid Compound Company
("C3"), a European leader in cannabinoid-based medical
therapies.
Incorporating these entities into one unified ecosystem will
integrate the Company's medical efforts as one global healthcare
enterprise. Spectrum Therapeutics now encompasses the production
and distribution of full-spectrum medical cannabis products,
industry-leading education, resources and support for patients and
healthcare practitioners along with clinical research and the
development of cannabinoid-based medicines.
The recent acquisition of C3 will allow Spectrum
Therapeutics to continue to advance leadership in medical cannabis
globally by further expanding its ability to empower physicians in
Europe and around the world with
the knowledge and therapies drawn from a full range of
cannabinoid-based medicines. This includes dronabinol,
C3's cannabinoid pharmaceutical drug available in
Germany, Austria, Switzerland, and Denmark. Dronabinol, while integrated into the
Spectrum Therapeutics' commercial offering, will continue to be
marketed under C3's brand, Bionorica Ethics.
"We've always been a company that provides more than medical
cannabis to our patients," commented Dr. Mark Ware, Chief Medical Officer, Canopy Growth.
"We also offer education for patients and healthcare professionals
and are engaged in research to define the safety and efficacy of
cannabinoid medicines and the development of new cannabinoid-based
treatments. Integrating our commercial medical businesses and
clinical research arm under a single entity better reflects our
position as a healthcare company that's driving further acceptance
of cannabinoids as mainstream medicine and addressing the medical
and wellness needs of our patients worldwide."
In addition to medical cannabis products, Spectrum Therapeutics
will continue to offer medical cannabis education for patients and
healthcare professionals in countries with legal regulatory
frameworks. Through the continuation of CHI and C3's
respective clinical research programs, Spectrum Therapeutics will
also focus on the research and development of clinically ready
cannabinoid drug formulations and dosage formats.
Since its founding in December
2016 as the cannabis research incubator of Canopy Growth,
CHI evolved into the primary research and development arm of the
Company including elements of product design and ingredient
selection, formulation, safety, and efficacy testing, and
pre-clinical and clinical trials. All of its research activities
will now fall under Spectrum Therapeutics which currently
include:
- 11 therapeutic trials planned and ongoing
- 11 third party clinical trials supported by Spectrum
Therapeutics planned and ongoing
- 900+ patients to be enrolled in studies; and
- 1800+ patients enrolled in EQUAL (Evaluation of Quality of
Life), which evaluates the quality of life of patients before and
after treatment with medical cannabis
Spectrum Cannabis is known for its colour-coded spectrum to
categorize medical cannabis according to THC and CBD levels. It
currently operates in 12 countries under various entities which,
going forward, will all be known as Spectrum Therapeutics. Those
countries are: Australia,
Brazil, Canada, Chile, Colombia, Czech
Republic, Denmark,
Germany, Lesotho, Peru, Poland,
and the United Kingdom. All
Spectrum Cannabis branding include the various web properties will
be transitioned to the new Spectrum Therapeutics identity over the
coming months.
Spectrum Therapeutics Fast Facts:
- 61,000+ healthcare professional visits in Canada
- Exclusive Pharmacy Learning Modules accredited by the Canadian
Pharmacy Association
- Its medical cannabis products have been exported to the U.S. on
multiple occasions with U.S. DEA approvals as part of a research
partnership with Battelle, a leading non-profit research and
development organization based in Columbus, Ohio
- First of its kind Peer Catalyst Mentor Program which links
physicians from across Canada with
colleagues who possess advanced knowledge of the cannabis field in
order to provide case-by-case support
- Partnership with the Ontario Long Term Care Association to
research how medical cannabis use can potentially displace
less-desirable therapeutics for both pain and cognitive function
for residents in long term care homes
- Ongoing commitment to patient affordability includes absorbing
excise tax on all Spectrum-branded products in Canada and industry-first Compassionate
Pricing Program that assists those on limited incomes afford their
medicine
Here's to Future (Therapeutic) Growth
About Canopy Growth Corporation
Canopy Growth
(TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis and
hemp company, offering distinct brands and curated cannabis
varieties in dried, oil and Softgel capsule forms. Canopy Growth
offers medically approved vaporizers through the Company's
subsidiary, Storz & Bickel GMbH & Co. KG. From product and
process innovation to market execution, Canopy Growth is driven by
a passion for leadership and a commitment to building a world-class
cannabis company one product, site and country at a time. The
Company has operations in over a dozen countries across five
continents.
The Company's medical division, Spectrum Therapeutics is proudly
dedicated to educating healthcare practitioners, conducting robust
clinical research, and furthering the public's understanding of
cannabis, and has devoted millions of dollars toward cutting edge,
commercializable research and IP development. Canopy Growth works
with the Beckley Foundation and has launched Beckley Canopy
Therapeutics to research and develop clinically validated
cannabis-based medicines, with a strong focus on intellectual
property protection. Canopy Growth acquired assets of leading hemp
research company, ebbu, Inc. ("ebbu"). Intellectual Property ("IP")
and R&D advancements achieved by ebbu's team apply directly to
Canopy Growth's hemp and THC-rich cannabis genetic breeding program
and its cannabis-infused beverage capabilities. Through partly
owned subsidiary Canopy Rivers Corporation, the Company is
providing resources and investment to new market entrants and
building a portfolio of stable investments in the sector.
From our historic public listing on the Toronto Stock Exchange
and New York Stock Exchange to our continued international
expansion, pride in advancing shareholder value through leadership
is engrained in all we do at Canopy Growth. Canopy Growth has
established partnerships with leading sector names including
cannabis icon Snoop Dogg, breeding legends DNA Genetics and Green
House Seeds, Battelle, the world's largest nonprofit research and
development organization, and Fortune 500 alcohol leader
Constellation Brands, to name but a few. Canopy Growth operates ten
licensed cannabis production sites with over 4.3 million square
feet of production capacity, including over one million square feet
of GMP certified production space. The Company operates Tweed
retail stores in Newfoundland and
Manitoba and has entered into
supply agreements with every Canadian province and territory. For
more information visit www.canopygrowth.com
Notice Regarding Forward Looking Statements
This news
release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and "forward-looking information" within the meaning of applicable
Canadian securities legislation. Often, but not always,
forward-looking statements and information 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 or information involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Canopy Growth or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements or information contained in this news
release. Examples of such statements include "industry-leading
education, resources and support for patients", and "ongoing
clinical research programs which are expected to complement
Spectrum Therapeutics'" . Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information, including clinical trial work, and such risks
contained in the Company's annual information form dated
June 27, 2018 and filed with Canadian
securities regulators available on the Company's issuer profile on
SEDAR at www.sedar.com. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
information or forward-looking statements in this news release are
reasonable, undue reliance should not be placed on such information
and no assurance can be given that such events will occur in the
disclosed time frames or at all. The forward-looking information
and forward-looking statements included in this news release are
made as of the date of this news release and the Company does not
undertake an obligation to publicly update such forward-looking
information or forward-looking information to reflect new
information, subsequent events or otherwise unless required by
applicable securities laws.
Contact: Caitlin O'Hara, Media
Relations, Caitlin.Ohara@canopygrowth.com, 613-291-3239; Investor
Relations, Tyler Burns,
Tyler.Burns@canopygrowth.com, 855-558-9333 ext. 122