Canopy Development to Obtain Cannabis Investigation Joint Venture – New Cannabis Ventures

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Canopy Development Strengthens Position as International Cannabis Investigation Leader by Getting into Agreement to Obtain Beckley Canopy Therapeutics

SMITHS FALLS, ON, Aug. 9, 2019 /CNW/ – Canopy Development Corporation (“Canopy Growth” or the “Company”) (TSX: WEED), (NYSE: CGC) is pleased to announce that it has entered into an agreement to obtain the international cannabinoid-primarily based health-related researcher Beckley Canopy Therapeutics (“Beckley Canopy”). The acquisition brings with each other Canopy’s wholly owned investigation plan with the Beckley Canopy investigation platform which is partly owned by Canopy Development in order to combine the finest teams, applications and clinical function all below a single strategic program. The investigation arm in turn straight supports the industrial efforts of Spectrum Therapeutics about the globe. As component of the acquisition, Canopy Development also acquires the outstanding shares in Spectrum Biomedical UK, the industrial arm of the Enterprise in the United Kingdom, as that markets starts to create into a commercially viable chance.

With the acquisition of C3, and Canopy Growth’s expanding investigation and improvement plans worldwide, the Enterprise is solidifying its status as a really international leader in cannabinoid investigation. Spectrum Therapeutics will leverage Beckley Canopy’s intellectual home, accelerate its extensive investigation applications, construct proof about the Company’s items and formulations and eventually increase patient access to cannabinoid-primarily based medicines globally.

The acquisition of Beckley Canopy will enable Spectrum Therapeutics to continue expanding its health-related cannabis leadership about the globe, strengthening our foothold in the UK and additional broadly across Europe – a area that desires to see stronger clinical proof about cannabis-primarily based medicines.

Mark Zekulin, CEO, Canopy Development Corporation

We’re excited to continue functioning with the extraordinary management group at Beckley Canopy to accelerate our shared vision to produce proof-primarily based cannabis formulations that will serve sufferers in have to have about the globe

Beckley Canopy was formed as a joint venture in January 2018 amongst Beckley Investigation &amp Innovations (“BRI”) and Canopy Development to investigation and create clinically validated cannabis-primarily based medicines, with a powerful concentrate on intellectual home protection. The investigation platform combined European and North American-primarily based leaders in cannabis investigation from BRI and Canopy Development to produce a powerful and complementary UK-primarily based European partnership. Because its inception, Beckley Canopy has produced considerable progress in 3 initial places of investigation, namely cancer discomfort, opioid sparing, and smoking cessation, with additional investigation in progress.

As soon as the acquisition is total, Beckley Canopy will be totally integrated into the existing Spectrum Therapeutics platform and management group in Europe, a area of concentrate for the Enterprise as policy surrounding health-related cannabis and patient access continues to evolve. The leadership group at Beckley Canopy has demonstrated a powerful track record of achievement in the quick period because its inception, and the senior investigation group boasts a combined 75 years of pharmaceutical investigation globally.

The acquisition remains topic to specific regulatory approvals and closing situations, and if happy, is anticipated to close inside the subsequent 60 days.

Here’s to Future (European, pharmaceutical grade) Development.

About Canopy Development Corporation

Canopy Development (TSX:WEED, NYSE:CGC) is a globe-major diversified cannabis, hemp and cannabis device organization, supplying distinct brands and curated cannabis varieties in dried, oil and Softgel capsule types, as properly as health-related devices by way of Canopy Growth’s subsidiary, Storz &amp Bickel GMbH &amp Co. KG. From item and method innovation to marketplace execution, Canopy Development is driven by a passion for leadership and a commitment to creating a globe-class cannabis organization a single item, web page and nation at a time. Canopy Development has operations in more than a dozen nations across 5 continents.

Canopy Growth’s health-related division, Spectrum Therapeutics is proudly committed to educating healthcare practitioners, conducting robust clinical investigation, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable investigation and IP improvement. Spectrum Therapeutics sells a variety of complete-spectrum items working with its colour-coded classification Spectrum technique as properly as single cannabinoid Dronabinol below the brand Bionorica Ethics.

Canopy Development operates retail retailers across Canada below its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has constructed a massive and loyal following by focusing on good quality items and meaningful client 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 worth by way of leadership is engrained in all we do at Canopy Development. Canopy Development has established partnerships with major sector names such as cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green Residence Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a handful of. Canopy Development operates eleven licensed cannabis production websites with more than four.7 million square feet of production capacity, such as more than a single million square feet of GMP certified production space. For additional info go to www.canopygrowth.com

Original press release

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Published by NCV Newswire

NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate higher good quality content material and info about major cannabis businesses to assistance our readers filter out the noise and to remain on top rated of the most crucial cannabis small business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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