Full Press Release Details
Spectrum Biomedical UK Opens New Chapter
for Medicinal Cannabis Industry
OXFORD, England, Jan. 21, 2019 /CNW/ - Spectrum
Biomedical UK (Spectrum UK) is a newly formed company focused on providing access of cannabis-based medicinal products to UK patients
with severe clinical unmet need. The joint venture between Canopy Growth Corporation (Canopy Growth) (TSX: WEED) (NYSE: CGC) and
Beckley Canopy Therapeutics (Beckley Canopy) will be the exclusive distributor of Spectrum Cannabis medicinal products in
Spectrum UK was formed to address a groundswell
of patient need for high quality, standardised cannabis-based medicinal products in the UK. Under the government's new classification,
which took effect November 1, specialist doctors in the UK can prescribe cannabis-based medicines for patients with severe clinical
"We are witnessing the birth of the UK
medical cannabis industry, an industry borne out of the unmet clinical needs of patients across the country. The formation of Spectrum
UK is testament to the importance of the opportunity to help patients access the medicine here in the UK," said Marc Wayne,
Co-Managing Director, Spectrum Biomedical UK.
Spectrum UK is a built-for-purpose distribution
company that will introduce Spectrum Cannabis medicinal cannabis products to UK patients and doctors. The company combines the
scientific rigour, research experience and local management team of Beckley Canopy Therapeutics, with the expertise in production,
formulation of pharmaceutical-quality cannabis-based products of Canopy Growth. Spectrum UK will also engage in physician education
to ensure doctors are exposed to the deep breadth of research showing the therapeutic benefits of cannabis.
"There is significant real world and clinical
evidence supporting the safety and effectiveness of cannabis-based medicinal products. However, due to the current regulations
and lack of education about medicinal cannabis among clinicians in the UK, there remain considerable obstacles to patient access.
Spectrum UK has the expertise and ambition to simplify the UK medicinal cannabis landscape and ensure access to cannabis-based
medicinal products for patients with great clinical unmet need," said Dr Mark Ware, Chief Medical Officer, Canopy Growth.
Spectrum UK will distribute a full range of
Spectrum Cannabis products. Spectrum Cannabis products use an industry-first strain classification system, designed to simplify
dialogue around strength, dosage, and THC:CBD ratios of medicinal cannabis using a straightforward colour-coded guide. The portfolio
includes whole flower cannabis, oils and new innovations such as softgel capsules. There are currently over 80,000 patients being
treated with Spectrum Cannabis products worldwide with Spectrum UK aiming to have products available for patients in the UK early
About Beckley Canopy Therapeutics
Beckley Canopy Therapeutics is a biopharmaceutical company designed to research and develop innovative cannabis-based health products,
with a strict focus on intellectual property protection. Our goal is to provide a range of safe and effective cannabinoid formulations
and delivery methods to meet the needs of doctors and patients around the world. A collaborative joint venture, Beckley Canopy
represents a partnership between world-renowned drug researcher Lady Amanda Feilding, Founder and Director of the Beckley Foundation,
with Canadian cannabis pioneers Canopy Health Innovations.
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties
in dried, oil and Softgel capsule forms. Canopy Growth offers medically approved vaporizers 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 is proudly dedicated to educating
healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and through
its wholly owned subsidiary, Canopy Health Innovations ("Canopy Health"), has devoted millions of dollars toward cutting
edge, commercializable research and IP development. Canopy Growth works with the Beckley Foundation and has launched Beckley Canopy
Therapeutics to research and develop clinically validated cannabis-based medicines, with a strong focus on intellectual property
protection. Canopy Growth acquired assets of leading hemp research company, ebbu, Inc. ("ebbu"). Intellectual Property
("IP") and R&D advancements achieved by ebbu's team apply directly to Canopy Growth's hemp and THC-rich cannabis
genetic breeding program and its cannabis-infused beverage capabilities. Through partly owned subsidiary Canopy Rivers Corporation,
the Company is providing resources and investment to new market entrants and building a portfolio of stable investments in the
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 icon Snoop Dogg, breeding legends DNA Genetics and Green House seeds, Battelle, the world's largest nonprofit research
and development organization, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates ten
licensed cannabis production sites with over 4.3 million square feet of production capacity, including over 500,000 square feet
of GMP certified production space. The Company operates Tweed retail stores in Newfoundland and Manitoba and has entered into supply
agreements with every Canadian province and territory. For more information visit www.canopygrowth.com
SOURCE Canopy Growth Corporation
View original content: http://www.newswire.ca/en/releases/archive/January2019/21/c1482.html
For further information: Spectrum Biomedical UK, Cosmo Feilding
Mellen, Managing Director, Tel: +44 1865 351 209
CO: Canopy Growth Corporation
CNW 02:00e 21-JAN-19