Canopy Health Innovations, partly-owned by Canopy Growth Corporation (TSE:WEED), has brought on board a consultancy firm to help it develop and commercialise cannabis-based medicines as quickly as possible.
CHI and Quebec-based EPIC Consulting Inc. have agreed a three-year partnership during which they will work together to develop drug formulations and delivery systems targeting unmet medical needs.
EPIC is also the firm of Dr Mark Ware who has been conducting medical cannabis research for the best part of two decades and is well-respected in the field.
“We have a unique opportunity here in Canada to study cannabis and develop products that will change the world,” said Canopy Health President Marc Wayne.
“Bringing Dr Ware in at this exciting moment to consult on our clinical research strategy is an important step towards our vision of bringing validated cannabis medicines to market as quickly as possible.”
Canopy Growth Corp has first refusal to commercialise any resulting intellectual property developed by CHI.
Shares in Canopy Growth were up 1%, or C$0.10, to C$12.16.