TORONTO, Jan. 21, 2016 /CNW Telbec/ - Canopy Growth
Corporation ("Canopy Growth" or "the Company") (TSXV: CGC) is
pleased to announce that CannScience Innovations Inc. (CSI),
operating through a strategic collaboration with the University
Health Network, has obtained regulatory approval to conduct
research on cannabis. Canopy Growth holds a 33% ownership stake in
CSI through its October 2015
acquisition of MedCannAccess.
As part of the launch of research and development activities,
Tweed Inc., a wholly-owned subsidiary of Canopy Growth, has made an
initial transfer of cannabis to CSI.
"The current regulatory model has evolved to include non-inhaled
forms of legal medical cannabis. Researching the next logical steps
is a way to be ahead of the curve in a fast-paced industry," said
Bruce Linton, Chairman and CEO of
Canopy Growth.
With these approvals, and its collaboration with UHN, CSI
intends to develop intellectual property related to extraction
processes, methods to produce standardized products and new
formulations. Once developed, CSI will initiate the required
preclinical and clinical testing for approval of new therapeutic
products by regulatory bodies in Canada and internationally. CSI may explore a
number of product variants, including products related to its
exclusive worldwide license of Generex (OTC:GNBT) Rapidmist
technology platform to develop innovative cannabinoid delivery
systems.
This is an important first step towards developing safer,
standardized, metered products in non-smokable form that fit
the definition of cannabis as medicine.
Here's to Future Growth.
About CannScience
CannScience is an R&D biopharmaceutical company established
to conduct research and development of therapeutic products based
on the extracts from medical cannabis. CannScience is developing
proprietary technologies and owns know-how related to the chemistry
and pharmacology of medicinal cannabis. CannScience is working on
integrating various medical devices and drug delivery technologies
for the delivery of medications for various patient
populations.
About Canopy Growth Corporation
Canopy Growth is Canada's first
publicly traded medical marijuana company and the first
geographically diversified producer with multiple licenses under
the Marihuana for Medical Purposes Regulations. Through its wholly
owned subsidiaries, Tweed, Tweed Farms, and Bedrocan, the Company
operates three state-of-the-art production facilities in
Ontario and distributes marijuana
across the country to Canadian patients managing a host of medical
conditions. The Company is dedicated to educating healthcare
practitioners, providing consistent access to high quality
medication, conducting robust clinical research, and furthering the
public's understanding of how marijuana is used for medical
purposes. www.canopygrowth.com
Notice Regarding Forward Looking Statement
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 Corporation does not undertake
an obligation to publicly update such forwardlooking statements to
reflect new information, subsequent events or otherwise unless
required by applicable securities legislation.
SOURCE Canopy Growth Corporation