SMITHS FALLS, ON, Feb. 10, 2017 /CNW/ - Canopy Health Innovations (CHI), the recently formed research incubator partly owned by Canopy Growth Corporation (TSX: WEED), has entered into a 3-year consulting agreement with EPIC Consulting Inc., the Quebec-based consulting firm of Dr. Mark Ware.
Canopy Health Innovations was established to research and develop clinically ready cannabis drug formulations and delivery systems for both human and/or animal patients targeting unmet medical needs in traditional pharmaceutical markets that could be disrupted by cannabis-based options. Under a framework agreement with CHI, Canopy Growth retains the right of first refusal to commercialize all resulting intellectual property developed by CHI globally.
"Canadian policy and regulations around cannabis are very progressive when compared to other jurisdictions around the world," said Marc Wayne, President and Director of CHI. "We have a unique opportunity here in Canada to study cannabis and develop products that will change the world. Bringing Dr. Ware in at this exciting moment to consult on our clinical research strategy is an important step towards our vision of bringing validated cannabis medicines to market as quickly as possible."
Dr. Mark Ware has been conducting medical cannabis research in Canada for more than 19 years and brings considerable expertise in the design of high quality clinical studies to evaluate the safety and efficacy of cannabinoids. "I am pleased to support the work that CHI is doing to develop cannabinoid medicines, and to help generate important data for patients and health care providers regarding the safety and efficacy of cannabis-based therapies" stated Dr. Ware. "EPIC was established to guide organizations in identifying and developing credible and evidence-based approaches to address the considerable gaps that currently exist in our understanding of the safe use of cannabis".
Dr. Ware's guidance will be instrumental for CHI research planning. With access to cannabis products from Canada's largest and most diverse production platform, Tweed's Dealer's License under Section 56 of the Controlled Drugs and Substances Act, and research data from studies operated by Canopy Growth subsidiaries, CHI's access to research tools is significant.
It is an honour to add Dr. Ware's expertise and guidance as Canopy Health Innovations works to implement its vision of researching and developing cannabis medicines that will help patients worldwide.
About Canopy Health Innovations:
Canopy Health Innovations (CHI) operates as an independent and private collaborator of Canopy Growth Corporation and its subsidiaries. CHI is owned in part by Canopy Growth and qualified private investors. CHI's business model is to engage simultaneously in numerous research areas, with a strict focus on the creation and enhancement of intellectual property, which is then retained exclusively on a first-priority basis. Canopy Growth and its subsidiaries retain an exclusive, first priority right to license and commercialize intellectual property developed and owned by CHI.
SOURCE Canopy Growth Corporation
For further information: Marc Wayne, President & Director, Canopy Health Innovations, 416-894-0021