In the news release, Sundial and Vir Pharmaceuticals Sign
Medical Cannabis Supply Agreement for Australian Chronic Pain
Clinical Studies, issued 09-Jan-2020
by Sundial Growers Inc. over CNW, we are advised by the company
that Nasdaq: VIR is not the stock symbol for Vir Pharma Holdings
Pty Ltd. as originally issued inadvertently. The complete,
corrected release follows:
Sundial and Vir Pharmaceuticals Sign Medical Cannabis Supply
Agreement for Australian Chronic Pain Clinical Studies
CALGARY and SYDNEY,
Jan. 9, 2020 /CNW/ - Sundial Growers
Inc. (Nasdaq: SNDL) ("Sundial"), a Canadian licensed cannabis
producer and Vir Pharma Holdings Pty Ltd. ("Vir Pharma"), an
Australian importer and manufacturer of medical cannabis,
today announced a three-year agreement (the
"Agreement") where Sundial will supply medical cannabis oil
for Vir Pharma's unique oral formulation for chronic pain that will
be used for sales and clinical studies in Australia.
Vir Pharma's clinical studies contribute to the development of a
proprietary cannabis-based prescription drug for Therapeutic Goods
Administration (TGA) approval called Virabis. The drug is intended
to treat chronic pain, providing patients with an alternative to
current opioid-based treatments.
"This is a significant announcement for Sundial and our Heal
(medical) business as it will lead to our first global exports and
entry into Australian markets," said Brian
Harriman, Chief Operating Officer of Sundial. "We're
excited to be working with a leading company such as Vir Pharma to
provide Australian patients with high-quality, cannabis-based
therapies."
Pursuant to the Agreement, Sundial will work with
Vir Pharma to develop a cannabis oil blend focused on chronic
pain, which will be marketed under Vir Pharma's brand name,
Virabis.
"At Vir Pharma, we believe that full spectrum cannabis medicines
could be a useful second line therapy to reduce opiate consumption
and enhance the lives of people living in chronic pain," said
Joel Hardy, CEO. "This
agreement provides us a high-quality and consistent supply of GMP
cannabis oil that allows us to guarantee a quality supply chain of
materials to create products for sale in Australia and to conduct a clinical
development program."
The relationship between Sundial and Vir Pharma will enable
shared learnings and capabilities, allowing both parties to
leverage each other's expertise and opening the door to developing
innovative medical cannabis therapies moving forward.
Sundial expects to export the first shipment of cannabis oil to
Vir Pharma before the end of April 2020.
About Sundial Growers Inc.
Sundial proudly crafts pioneering cannabis brands to Heal, Help
and Play:
- Heal - cannabis products used as prescription medicine
- Help - cannabis products that strive to promote health and
wellness through CBD
- Play - cannabis products to enhance social, spiritual and
recreational occasions
Sundial has facilities in Canada and the United Kingdom and provides quality and
consistent products consumers can trust.
In Canada, we grow
'craft-at-scale' cannabis using purpose-built modular facilities
and award-winning genetics. Sundial's flagship production
facility is located in Olds, Alberta with a second facility in Rocky View, Alberta. We have commenced construction of our
next purpose-built facility in Merritt, British Columbia.
In the United Kingdom, we grow
high-quality traceable plants, including hemp, ornamental flowers
and edible herbs, in over 1.5 million square feet of
state-of-the-art environmentally friendly, indoor facilities.
Bridge Farm has three facilities in Spalding with another currently
under construction.
We employ over 1,000 employees globally, full-time and seasonal,
bringing economic benefits to the local communities in which we
operate.
For more information about Sundial,
visit www.sndlgroup.com and follow us on
Twitter @SundialCannabis, Instagram @SundialCannabis,
LinkedIn @SundialCannabis and
Facebook @SundialCommunity.
About VIR Pharmaceuticals
Vir Pharma is an Australian owned licenced importer and
manufacturer of medical cannabis. We've set out to cultivate
natural, full spectrum medicines that include the whole plant to
enhance the lives of people living in chronic pain.
Our board consists of experienced pharmaceutical and
nutraceutical executives that have worked and sold high quality
pharma grade products throughout the world.
We focus on genetics grown under Australian conditions through
tissue culture propagation, a method which delivers a consistent,
natural product, free from pests and chemical dependencies.
Forward-Looking Information Cautionary
Statement
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. These statements are only predictions.
Various assumptions were used in drawing the conclusions or making
the projections contained in the forward-looking statements
throughout this news release. Forward-looking statements are based
on the opinions and estimates of management at the date the
statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. The Company is under no obligation, and
expressly disclaims any intention or obligation, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
SOURCE Sundial Growers Inc.