TORONTO, July 14, 2020 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce it is one of the first licensed producers (LP) to have its products and strains included in the University Health Networks’ (“UHN”) first-of-its-kind Medical Cannabis Real-World Evidence (“MC-RWE”) Study. UHN is launching nation-wide clinical trials studying cannabis use on chronic pain, issues with sleep, anxiety or depression. Participating patients can select medical cannabis products via the Medical Cannabis by Shoppers™ (“Shoppers”) portal, and registered under the TruTrace Technologies’ (“TruTrace”) medical cannabis verification program. Read UHN’s announcement here.
WeedMD is the only LP with all of its cannabis strains registered under TruTrace’s proprietary StrainSecure™ platform. The program focuses on testing and verification to confirm the origin, cannabinoid authenticity and quality assurance of cannabis products. Link here to read. A medical cannabis supplier to Shoppers since February 2019, WeedMD was the first LP to partner with TruTrace and utilize the StrainSecure platform to register its genetics in late 2018 with 40 proprietary strains initiated, including all products currently sold in Canada.
“Recognizing the importance of strain validation as cannabis products advance through Canada’s medical and pharmaceutical channels is paramount for building trust and accountability in our industry and we congratulate UHN, Shoppers and TruTrace on this breakthrough initiative,” said Angelo Tsebelis, CEO of WeedMD. “As the only producer with all its products registered under StrainSecure, we are proud to be included. Patients and their medical practitioners expect traceability, origin assurance and consistency in their medicine, particularly when used as a natural alternate for treating traumatic indications such as pain management – this study will present much needed evidence and we’re looking forward to the results.”
“Shoppers Drug Mart is trusted by patients and healthcare providers to provide medical products that have been tested and validated, regardless of whether that medication came from a lab or a greenhouse,” said Ken Weisbrod, Pharmacist and Vice President, Business Development/Cannabis Strategy, Shoppers Drug Mart. “Many partners came together to launch this initiative and we are proud to work with industry leaders to further our ability to provide Canadians with safe, consistent, rigorously tested cannabis-based medication.”
More about the MC-RWE Clinical Trials
As noted by UHN’s announcement, the study is led by Dr. Hance Clarke, Director of Pain Services at Toronto General Hospital, a recognized leader in educating Canadians about chronic pain and the risk factors of opioids.
In an industry where standardization is still in its infancy, this study aims to give direction with the same rigour around medical cannabis that is demanded of any other pharmaceutical product.
About TruTrace’s StrainSecure Registration Program
Following the collection, sequencing and registration of the DNA of its cannabis strains, WeedMD became the first licensed producer in the world to incorporate a cannabis authenticity and tracking platform into its sales program.
Under the program, TruTrace’s team collects plant data and performs genomic sequencing in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. Known as the StrainSecure, all information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program. Once approved, a quick response (QR) barcode specific to each cannabis batch can then reveal how it was cloned and cultivated, its cannabinoid content and more.
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About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., federally-licensed producers of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario as well as CX Industries Inc., a wholly-owned subsidiary which specializes in cannabis extraction from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario processing facility. With the addition of Starseed, a medical-centric operator based in Bowmanville, Ontario, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with other employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.
Follow WeedMD, Color Cannabis & Starseed:
LinkedIn: https://ca.linkedin.com/company/weedmd
Twitter: https://twitter.com/WeedMD
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&
Instagram: https://www.instagram.com/starseedca/
For further information, please contact:
For Investor Enquiries:
Valter Pinto
Managing Director
KCSA Strategic Communications
1-212-896-1254
weedmd@kcsa.com
For Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
416-897-6644
marianella@weedmd.com
To learn more, visit us at www.weedmd.com
Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon WeedMD's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; the COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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