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
SOURCE Canopy Growth Corporation
