SMITHS FALLS, ON, May 7, 2019 /PRNewswire/ - 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 commercial
medical and clinical 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 and single cannabinoid medical
cannabis products; industry-leading education, resources and
support for patients and healthcare practitioners; as well as
pre-clinical and 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 established and recognized branding,
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 providing commercially available medical cannabis
products on five continents, 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. In addition to supporting
drug registration, this research also support's best-in-class
physician and patient interaction and education for Spectrum
Therapeutics' commercial operations on a global basis.
Entities now under the Spectrum Therapeutics banner
include:
- Spectrum Cannabis: Known for its colour-coded spectrum
to categorize medical cannabis according to THC and CBD levels, the
commercial medical arm of the Company operates in 12 countries
including Australia, Brazil, Canada, Chile, Colombia, Czech
Republic, Denmark,
Germany, Lesotho, Peru, Poland,
and the United Kingdom. In
Canada alone, the team has
conducted 61,000+ healthcare professional visits.
- Canopy Health Innovations (CHI): With 38 provisional
patents filed in the US designed to address a range of medical
issues, from addiction to pain management, Canopy Health
Innovations continues to build a robust portfolio of IP,
pre-clinical and clinical evidence to support cannabis-based
medicines that deliver therapeutic value in areas of unmet medical
need. Additionally, across five continents, CHI has 11 ongoing and
planned therapeutic trials and another 11 third-party
investigator-initiated trials supported by Spectrum Therapeutics.
More than 900 patients will be enrolled in research trials testing
the efficacy of cannabinoid-based therapies and more than 1800
patients are participating in the EQUAL program (Evaluation of
Quality of Life) that will investigate the quality of life of
patients before and after treatment with medical cannabis.
- C3 Cannabinoid Compound Company
(C3): C3 is Europe's largest cannabinoid-based
pharmaceuticals company. The company was founded in 2014 by
Bionorica SE, one of the world's leading producers of herbal
medicines, as a holding company for the companies Bionorica ethics
and THC Pharm. Both Bionorica ethics and THC Pharm have for almost
two decades been researching and developing the key therapeutic
ingredients of the cannabis flower: tetrahydrocannabinol (THC) and
cannabidiol (CBD). One of the most significant of C3's
medical offerings is dronabinol, a pure chemical compound with
standardized concentrations of THC that can be prescribed by
doctors in Germany for any type of
chronic pain and for any condition in palliative care.
Here's to Future (Therapeutic) Growth.
About Canopy Growth Corporation
Canopy Growth
(TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp
and cannabis device company, offering distinct brands and curated
cannabis varieties in dried, oil and Softgel capsule forms, as well
as medical devices through the Company's subsidiary, Storz &
Bickel GMbH & Co. KG. From product and process innovation to
market execution, Canopy Growth is driven by a passion for
leadership and a commitment to building a world-class cannabis
company one product, site and country at a time. The Company has
operations in over a dozen countries across five continents.
The Company's medical division, Spectrum Therapeutics is proudly
dedicated to educating healthcare practitioners, conducting robust
clinical research, and furthering the public's understanding of
cannabis, and has devoted millions of dollars toward cutting edge,
commercializable research and IP development. Spectrum Therapeutics
sells a range of full-spectrum products using its colour-coded
classification Spectrum system as well as single cannabinoid
Dronabinol under the brand Bionorica Ethics.
The Company operates retail stores across Canada under its award-winning Tweed and Tokyo
Smoke banners. Tweed is a globally recognized cannabis brand which
has built a large and loyal following by focusing on quality
products and meaningful customer relationships.
From our historic public listing on the Toronto Stock Exchange
and New York Stock Exchange to our continued international
expansion, pride in advancing shareholder value through leadership
is engrained in all we do at Canopy Growth. Canopy Growth has
established partnerships with leading sector names including
cannabis icons Snoop Dogg and Seth
Rogen, breeding legends DNA Genetics and Green House Seeds,
Battelle, the world's largest nonprofit research and development
organization, and Fortune 500 alcohol leader Constellation Brands,
to name but a few. Canopy Growth operates ten licensed cannabis
production sites with over 4.4 million square feet of production
capacity, including over one million square feet of GMP certified
production space. For more information visit
www.canopygrowth.com
Notice Regarding Forward Looking Statements
This news
release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and "forward-looking information" within the meaning of applicable
Canadian securities legislation. Often, but not always,
forward-looking statements and information 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 or information involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Canopy Growth or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements or information contained in this news
release. Examples of such statements include "industry-leading
education, resources and support for patients", and "ongoing
clinical research programs which are expected to complement
Spectrum Therapeutics'" . Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information, including clinical trial work, and such risks
contained in the Company's annual information form dated
June 27, 2018 and filed with Canadian
securities regulators available on the Company's issuer profile on
SEDAR at www.sedar.com. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
information or forward-looking statements in this news release are
reasonable, undue reliance should not be placed on such information
and no assurance can be given that such events will occur in the
disclosed time frames or at all. The forward-looking information
and forward-looking statements included in this news release are
made as of the date of this news release and the Company does not
undertake an obligation to publicly update such forward-looking
information or forward-looking information to reflect new
information, subsequent events or otherwise unless required by
applicable securities law.
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SOURCE Canopy Growth Corporation