VICTORIA, Australia, Nov. 11, 2019 /PRNewswire/ -- Spectrum Therapeutics ("Spectrum"), the medical division of Canopy Growth Corporation (Canopy Growth), is pleased to announce an Australian first for the company. Spectrum has partnered with Emerald Clinics Australia (Emerald Clinics) to collect real world data on the safety and effectiveness of Spectrum Therapeutics' medical cannabis products.
Under the terms of the agreement, following ethics approval, Emerald Clinics will collect clinical outcome data for up to 500 patients[1] prescribed Spectrum Therapeutics products in Australia throughout the course of their treatment. The study, which will take place over the next 12 months, will enable Spectrum Therapeutics to better understand the safety and effectiveness of its products when used in a supervised and regulated clinical setting.
"Spectrum Therapeutics is committed to investing in ongoing local research, while making sure that quality and regulated supply of medical cannabis is accessible to patients in Australia, and this project will allow us to do both," says Dr Christina Xinos, Medical Director at Spectrum Therapeutics. "This partnership allows us to work with Emerald Clinic's innovative care model which ensures that patients receive extensive follow up and support throughout their treatment while collecting real world data which will complement the robust clinical trials required to get our products registered with the Therapeutic Goods Administration."
"Australia's regulatory system enables the collection of high quality data due to the stringent product quality controls in place, and along with the requirement for detailed monitoring plans, this allows us to work towards a more evidence based approach to prescribing cannabinoid medicines," says Dr Alistair Vickery, Principal Investigator and Medical Director at Emerald Clinics.
Spectrum Therapeutics' research program is committed to furthering the science of cannabis through clinical trials and real world evidence approaches, with a focus on conditions with high unmet medical needs, particularly around the areas of chronic pain, anxiety disorders and insomnia. Today's announcement is the first in a series of research initiatives that Spectrum Therapeutics is delivering locally, aligned with its commitment to invest in ongoing global research, including:
Here's to Future Growth (informed by real world outcomes).
About Emerald Clinics
Emerald Clinics is a healthcare technology and services company incorporated in March 2018 whose mission is to improve lives, by learning from the experience of every patient that is treated with a cannabinoid medicine. Our team includes specialist physicians, experienced General Practitioners and clinical trials experts to deliver best-practice care for patients who have exhausted conventional therapies in Australia through our clinics in Sydney, Melbourne, Perth and Northern NSW.
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, commercialisable 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 recognised 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, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 4.7 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com
About Spectrum Therapeutics
Spectrum Therapeutics, the medical division of Canopy Growth Corporation (TSX: WEED, NYSE: CGC), is dedicated to educating healthcare practitioners, furthering the public's understanding of medical cannabis and its various applications, and cutting edge, commercialisable research and IP development. Founded in Canada, Spectrum Therapeutics operates in Australia, South America, Africa and across Europe. Its products are available in a wide range of potencies and formats designed to simplify the dialogue around strength and dosage by applying a colour-coded spectrum to categorise medical cannabis according to THC and CBD levels.
Spectrum Therapeutics' offerings include whole flower cannabis, oils and new innovations such as Softgels in addition to single cannabinoid medicine Dronabinol under the brand Bionorica Ethics. Through product simplification, robust clinical research and ongoing education of healthcare professionals, Spectrum Therapeutics is committed to addressing the unmet medical needs of patients around the globe.
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 respect to project completion dates.. 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 study results and such risks contained in the Company's annual information form dated June 24, 2019 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 laws.
[1] Only patients who have given full consent will be included in this study
For further information: Contact:, Spectrum Therapeutics Australia, Ben Quirin, Regional Managing Director, APAC, ben.quirin@canopygrowth.com, +61 466 231 441; Emerald Clinics, Adam James, Media Relations, adam.james@emeraldclinics.com.au, +61 400 105 462
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