SMITHS FALLS, ON
and VICTORIA, Australia,
Jan. 16, 2018 /CNW/ - Canopy
Growth Corporation (TSX: WEED) ("Canopy Growth" or the "Company")
and the Victorian State Government today announced the signing of a
significant Memorandum of Understanding ("MOU") to further develop
research and technical capabilities in the production of medical
cannabis in Australia.
The Honourable Minister for Agriculture Jaala Pulford MLC
officially announced the research collaboration this morning
between Canopy Growth and Agriculture Victoria, the ministry of
agriculture for the state government of Victoria, Australia. The work will focus on
medical applications for cannabis genetics, strain development,
cultivation, and processing. This partnership will directly
contribute to the emerging medical cannabis industry in
Australia, allowing for improved
patient access in that market, creating a leadership position for
Australia and Canopy Growth in the
Asia Pacific geography.
As part of this agreement, stabilized cannabis genetics from
Canopy Growth's Canadian operations have already been successfully
imported into the country and are growing healthily in the state of
Victoria.
"This agreement allows us to combine our expertise in medical
cannabis with the world-leading bioscience research capabilities of
Agriculture Victoria," said Mark
Zekulin, President, Canopy Growth. "With this important MOU,
we hope to increase innovation and institutional understanding in
the Australian medical cannabis market to ensure that our globally
recognized genetics are available in Australia for research and commercial
purposes."
Victoria was the first state in
Australia to legalize access to
medical cannabis for patients in the region, and the State will use
its prominent bioscience research capabilities in Agriculture
Victoria to work with Canopy Growth to identify and develop optimal
plant strains for a range of therapeutic uses. Specific
capabilities include genome sequencing, comprehensive metabolome
analysis and chemo-typing, as well as technologies for accelerated
precision breeding.
Canopy Growth has quickly emerged from the Canadian market to
establish itself as the world's largest cannabis company. Since
2014 it has operated under federal medical cannabis laws and serves
over a third of the estimated medical cannabis patients in the
country, more than 69,000 people. Canopy now operates in seven
countries internationally and has driven the medical cannabis
dialogue forward by engaging with medical professionals to educate
them on the existing body of evidence surrounding cannabis.
Canopy's network includes a partnership with partly-owned leading
Australian cannabis company, AusCann Group Holdings ("AusCann"),
based in Western Australia, who
will directly benefit by being able to more readily access Canopy's
base of genetics to advance its medical research initiatives and
development.
"Working with global leaders like Canopy Growth on cultivation
and production will build Victoria's capacity to develop an industry
capable of supplying reliable and high quality medical cannabis
products to treat a range of conditions in approved patients," said
the Honourable Jaala Pulford, Minister for Agriculture, Victorian
State Government.
The collaboration between an international industry-leader in
the cultivation and value-add production of medical cannabis
products like Canopy Growth and a globally recognized bioscience
researcher in Agriculture Victoria is a major development for
Australian cannabis market progression and shows strong leadership
on the part of the Victoria Government. The products being
developed through this MOU, as well as the recently imported
genetics, will ensure that locally produced, high quality medical
cannabis products are legally available to patients in the
Australian market in the near future.
Here's to Future Growth (Down Under).
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis and hemp company, offering
distinct brands and curated cannabis varieties in dried, oil and
Softgel capsule forms. 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 established partnerships with leading sector
names including cannabis icon Snoop Dogg, breeding legends DNA
Genetics and Green House seeds, and Fortune 500 alcohol leader
Constellation Brands, to name but a few. Canopy Growth
operates seven cannabis production sites with over 665,000 square
feet of production capacity, including over 500,000 square feet of
GMP-certified production space. The Company has operations in seven
countries across four continents. The Company is proudly dedicated
to educating healthcare practitioners, conducting robust clinical
research, and furthering the public's understanding of cannabis,
and through its partly owned subsidiary, Canopy Health Innovations,
has devoted millions of dollars toward cutting edge,
commercializable research and IP development. 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 to our continued international expansion, pride in
advancing shareholder value through leadership is engrained in all
we do at Canopy Growth. For more information visit
www.canopygrowth.com
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SOURCE Canopy Growth Corporation