SMITHS FALLS, ON and
TUTTLINGEN, Germany, April 3, 2020 /CNW/ - Storz & Bickel is
pleased to announce that Health Canada has issued a Medical Device
Licence for the new Volcano Medic 2 (License No.: 103842), an
advanced cannabis vapourizer device for medical use. This licence
permits distribution to medical institutions, clinics, and patients
in Canada – including distribution
through Spectrum Therapeutics, the medical cannabis division of
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC). The device is
currently available for purchase on Spectrum Therapeutics, Storz
& Bickel's online shop, and various medical cannabis clinics
across Canada.
Storz & Bickel is known for their long history of high
quality vapourizer manufacturing and they were the first company to
manufacture medically-certified cannabis vapourizers, including the
iconic original Volcano Medic.
The Volcano Medic 2, which has been approved for medical use in
Europe, Australia, and now Canada, includes improved features for
patients such as tenfold faster heat up times, an alternative
tubular (direct-to-mouth) inhalation method in addition to the
standard Valve Balloon, and an intuitive touch display that allows
patients to set their desired temperature directly on the device.
Patients can expect the same high-quality materials, impeccable
craftsmanship, and unparalleled safe and combustion-free
vaporization experience they've become accustomed to with all Storz
& Bickel devices with the new reinvented Volcano Medic 2.
Alongside their medically approved cannabis vapourizers, Storz
& Bickel is known for manufacturing non-medical vapourizers in
accordance with international technical safety standards, ensuring
premium quality for each component part.
Due to its classification as a licensed medical device, the
Volcano Medic 2 is eligible for tax deduction benefits in
Canada or cost reimbursements by
health insurance companies in Germany, similar to its predecessor and the
Mighty Medic.
"Storz and Bickel is internationally-known for its best-in-class
device design and manufacturing," said Dr. Mark Ware, Chief Medical Officer, Canopy Growth.
"This license will allow us to offer even more options for patients
who may be interested in vapourizing whole-flower dried cannabis as
an alternative method of medicating."
In the past 12 months, Storz & Bickel updated several
products in their existing portfolio, adding new features,
improvements, and adjustments designed to increase user and patient
experience, including the new Volcano Hybrid that was released in
June and the Crafty+ that launched in November.
About Canopy Growth Corporation
Canopy Growth
(TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp
and cannabis device company, offering distinct brands and curated
cannabis varieties in dried, oil and Softgel capsule forms, as well
as medical devices through Canopy Growth'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. Canopy Growth has
operations in over a dozen countries across five continents.
Canopy Growth'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. Spectrum
Therapeutics sells a range of full-spectrum products using its
colour-coded classification Spectrum system as well as single
cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo
Smoke banners. Tweed is a globally recognized cannabis brand which
has built a large and loyal following by focusing on quality
products and meaningful customer relationships.
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 icons Snoop Dogg and Seth
Rogen, breeding legends DNA Genetics and Green House Seeds,
and Fortune 500 alcohol leader Constellation Brands, to name but a
few. Canopy Growth operates eleven licensed cannabis production
sites with over 7.5 million square feet of production capacity,
including over one million square feet of GMP certified production
space. For more information visit www.canopygrowth.com
About Spectrum Therapeutics
Spectrum Therapeutics, the
medical division of Canopy Growth Corporation (TSX: WEED, NYSE:
CGC), is dedicated to educating healthcare practitioners,
furthering the public's understanding of medical cannabis and its
various applications, and cutting edge, commercializable research
and IP development. Founded in Canada, Spectrum Therapeutics operates in
Australia, South America, Africa and across Europe. Its products are available in a wide
range of potencies and formats designed to simplify the dialogue
around strength and dosage by applying a colour-coded spectrum to
categorize medical cannabis according to THC and CBD levels.
Spectrum Therapeutics' offerings include whole flower cannabis,
oils and new innovations such as Softgels in addition to single
cannabinoid medicine Dronabinol under the brand Bionorica Ethics.
Through product simplification, robust clinical research and
ongoing education of healthcare professionals, Spectrum
Therapeutics is committed to addressing the unmet medical needs of
patients around the globe.
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 "an unparalleled
vaporization experience".. 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 product availability and such risks
contained in the Company's annual information form dated
June 24, 2019 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.
SOURCE Spectrum Therapeutics