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~20% of UHN products in study formulary, including 7 unique medical cannabis products, to be manufactured by MediPharm Labs
TORONTO, July 16, 2020 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced its participation in a ground-breaking collaboration between University Health Network (“UHN”) and Medical Cannabis by Shoppers Inc. that will use blockchain technology to track medical cannabis products from seed to sale.
MediPharm Labs’ own pharma-quality (GMP Certified) CBD and THC products, including CBD 25, CBD 25:5 and CBD 50, first launched on the Medical Cannabis by Shoppers™ portal earlier this year, as well as a suite of Avicanna Rho Phyto™ CBD and THC products, manufactured by MediPharm Labs, have been selected to be used in a 24-week observational study targeting at least 2,000 Canadian medical cannabis consumers.
“As part of the largest pharmacy chain in Canada, the Medical Cannabis by Shoppers team is delighted to partner in this research with MediPharm Labs, a trusted name in the cannabis industry and a company with whom we have a strong commercial relationship,” said Ken Weisbrod, Vice President Business Development/Cannabis Strategy, Shoppers Drug Mart. "The success of this research is dependent on collaboration, and with partners like UHN, MediPharm Labs, TruTrace and Shoppers on board, the stage is set for achievement."
The collaboration will use a blockchain-secured software platform – designed by TruTrace Technologies Inc. (CSE: TTT)(OTCQB: TTTSF) (CSE: TTT)(OTCQB: TTTSF) and integrated with the Medical Cannabis by Shoppers portal – to manage, track and trace medical cannabis strains in 7 distinct products manufactured by MediPharm Labs, or about 20% of the study formulary, in various formats including oils and extracts throughout each step of the supply chain.
Robert Galarza, CEO, TruTrace Technologies commented, “The evolution of the medical cannabis industry over the past several years has been nothing short of remarkable and the commitment by MediPharm Labs to implement the highest level of product quality through certified GMP standards and protocols, as well as a desire to advance innovation, collaboration and technology alongside companies like ours will only further drive our industry forward. We are excited to explore how the power of dynamic and transparent data can support their initiatives in Canada and beyond.”
“This important study, conducted by one of the largest health research organizations in Canada, will have wide-reaching benefits for cannabis patients and MediPharm Labs as we remain dedicated to producing pharmaceutical-quality products that are rigorously tested and verified on a lot-by-lot basis using GMP certified standards,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Our view is that this study has the potential to enhance confidence in medical cannabis by giving physicians and patients true transparency into product chemistry, composition and effectiveness so that they can prescribe validated products and adjust their treatment regimens based on real-world evidence. We are proud to be a contributing partner with leaders in the fields of science, technology, medical dispensary and cannabis who have come together to make this study possible.”
About the UHN Study
This novel Medical Cannabis Real World Evidence study will look to match cannabis genetics, with defined cannabinoid and terpene profiles, to patient outcomes using validated questionnaires and scales. Patients enrolled in this study will have access to a wide range of products that have consistent genetic, chemical, cannabinoid and terpene profiles and will know exactly what is in their products down to the milligram of THC and cannabidiol. If a product in the study is effective for them, they can rely on it being identical, from batch to batch.
From this work, a national repository of real-time data about cannabis products, their composition and their effectiveness will be made available to Medical Cannabis by Shoppers’ patients.
Patients participating in the study will use the same ecommerce platform as other Medical Cannabis by Shoppers patients, though research participants will have access to the first fully verified products. First launched in Ontario in January 2019, Medical Cannabis by Shoppers (a subsidiary of Shoppers Drug Mart) provides patient access to numerous medical cannabis products from over 20 licensed cannabis brands. Cannabis medication can be ordered online or via phone, and is shipped directly and discreetly to their doorstep. The Shoppers Cannabis Care team – a dedicated call center staffed by cannabis-trained advisors and pharmacists - provides counselling and support for patients.
University Health Network consists of Toronto General, recently ranked the #4 Hospital in the World according to Newsweek Magazine, and Toronto Western Hospital, the Princess Margaret Cancer Centre, Toronto Rehabilitation Institute, and the Michener Institute of Education at UHN. The scope of research and complexity of cases at University Health Network has made it a national and international source of discovery, education, and patient care.
Why Traceability Is Important
Medical cannabis currently lacks assigned Drug Identification Numbers (“DINs”) that quantify attributes such as chemistry, genetics, and metabolomics. This information is critical for producers, distributors, government agencies, payers, clinicians, and patients. Maintaining an effective and interoperable traceability ecosystem built on reliable and immutable data provides safe and consistent medicine.
MediPharm Labs distinguishes itself as a supplier of medical cannabis through its GMP-certified production capabilities. This internationally recognized certification is only granted to companies that can demonstrate consistency, precision, and quality in all stages of production and are able to comply with GMP principles for manufacturing Active Pharmaceutical Ingredients and final medicinal products.
About TruTrace Technologies, Inc.
TruTrace (CSE: TTT / OTCQB: TTTSF) is a fully integrated software platform, secured on a blockchain infrastructure that gives clients the ability to store, manage, share and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory from batches and lots to serialized items. The platform was specifically designed to power the traceability of testing standards within the medical cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation.
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard built clean rooms. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision -dosed cannabis products for its customers. Through its wholesale and white label platforms, they formulate, consumer-test, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian Extraction facility. MediPharm Labs Australia was established in 2017.
For further information, please contact:
Laura Lepore, VP, Investor Relations
Telephone: 416-913-7425 ext. 1525
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
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