OXFORD, England, January 21, 2019 /PRNewswire/ --
Spectrum Biomedical UK (Spectrum UK) is a newly formed company
focused on providing access of cannabis-based medicinal products to
UK patients with severe clinical unmet need. The joint venture
between Canopy Growth Corporation (Canopy Growth) (TSX: WEED)
(NYSE: CGC) and Beckley Canopy Therapeutics (Beckley Canopy)
will be the exclusive distributor of Spectrum Cannabis medicinal
products in the UK market.
Spectrum UK was formed to address a groundswell of patient need
for high quality, standardised cannabis-based medicinal products in
the UK. Under the government's new classification, which took
effect November 1, specialist doctors
in the UK can prescribe cannabis-based medicines for patients with
severe clinical unmet need.
"We are witnessing the birth of the UK medical cannabis
industry, an industry borne out of the unmet clinical needs of
patients across the country. The formation of Spectrum UK is
testament to the importance of the opportunity to help patients
access the medicine here in the UK," said Marc Wayne, Co-Managing Director, Spectrum
Biomedical UK.
Spectrum UK is a built-for-purpose distribution company that
will introduce Spectrum Cannabis medicinal cannabis products to UK
patients and doctors. The company combines the scientific rigour,
research experience and local management team of Beckley Canopy
Therapeutics, with the expertise in production, formulation of
pharmaceutical-quality cannabis-based products of Canopy Growth.
Spectrum UK will also engage in physician education to ensure
doctors are exposed to the deep breadth of research showing the
therapeutic benefits of cannabis.
"There is significant real world and clinical evidence
supporting the safety and effectiveness of cannabis-based medicinal
products. However, due to the current regulations and lack of
education about medicinal cannabis among clinicians in the UK,
there remain considerable obstacles to patient access. Spectrum UK
has the expertise and ambition to simplify the UK medicinal
cannabis landscape and ensure access to cannabis-based medicinal
products for patients with great clinical unmet need," said Dr
Mark Ware, Chief Medical Officer,
Canopy Growth.
Spectrum UK will distribute a full range of Spectrum Cannabis
products. Spectrum Cannabis products use an industry-first strain
classification system, designed to simplify dialogue around
strength, dosage, and THC:CBD ratios of medicinal cannabis using a
straightforward colour-coded guide. The portfolio includes whole
flower cannabis, oils and new innovations such as softgel capsules.
There are currently over 80,000 patients being treated with
Spectrum Cannabis products worldwide with Spectrum UK aiming to
have products available for patients in the UK early 2019.
About Beckley Canopy Therapeutics
Beckley Canopy Therapeutics is a biopharmaceutical company
designed to research and develop innovative cannabis-based health
products, with a strict focus on intellectual property protection.
Our goal is to provide a range of safe and effective cannabinoid
formulations and delivery methods to meet the needs of doctors and
patients around the world. A collaborative joint venture, Beckley
Canopy represents a partnership between world-renowned drug
researcher Lady Amanda Feilding,
Founder and Director of the Beckley Foundation, with Canadian
cannabis pioneers Canopy Health Innovations.
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. 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 is proudly dedicated to educating healthcare
practitioners, conducting robust clinical research, and furthering
the public's understanding of cannabis, and through its wholly
owned subsidiary, Canopy Health Innovations ("Canopy Health"), 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 500,000 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 http://www.canopygrowth.com/
Media Contact:
Spectrum Biomedical UK
Cosmo Feilding Mellen
Managing Director
Tel: +44-1865-351-209