Funding will support the development of novel dosage forms and clinical studies
NANAIMO, BC, Nov. 30, 2017 /CNW/ - Tilray, a global leader in medical cannabis research and production, today announced that the company has received funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support product development and other research projects. The NRC IRAP provides assistance to Canadian businesses to undertake technology innovation through a comprehensive suite of innovation services and funding.
"Tilray is committed to advancing our scientific understanding of medical cannabis to benefit patients with a diverse array of conditions," said Dr. Joshua Eades, PhD, Tilray's Chief Science Officer. "We are honoured to receive this funding from the NRC IRAP to support our research. The NRC IRAP's generous support will enable our team to develop innovative products and formulations to address the needs of our growing patient community."
Tilray's NRC IRAP funding will support a variety of projects related to Tilray's comprehensive product development program. These projects include the development of novel products such as transdermal patches and topical formulations; the development of novel formulations with improved pharmacokinetic profiles; in-house development work; and clinical pharmacokinetic studies. The funding will also allow Tilray to hire additional researchers dedicated to supporting these projects.
Tilray takes tremendous pride in its clinical, patient-centric approach to production, manufacturing, and research. In December 2016, the company became the first medical cannabis producer in North America to be Good Manufacturing Practice (GMP) certified. GMP certification is the most rigorous standard that manufacturers of medical products must meet in their production processes. GMP certification "provides regulators and health care providers in countries new to medical cannabis with certainty that Tilray products are the safe and smart choice," added Dr. Eades.
About Tilray Tilray is a global pioneer in the research and production of medical cannabis and cannabinoids. Tilray currently serves tens of thousands of patients, physicians, pharmacies, governments, hospitals, and researchers in seven countries spanning four continents through its affiliated entities in Australia and New Zealand (Tilray Australia New Zealand Pty Ltd.), Canada (Tilray Canada Ltd.), Germany (Tilray Deutschland GmbH), and Portugal (Tilray Portugal Unipessoal Lda).