Canopy Growth Corporation’s (NYSE:CGC) medical division Spectrum Therapeutics has shared an update on the progress of its development and commercialization of validated cannabis medicines through clinical trials.
There is an increasing demand for cannabinoid-based medicines in the growing cannabis market. Spectrum Therapeutics is carrying out clinical trials on research to develop products for pain, sleep, and mood.
Over the next 24 months, Spectrum Therapeutics will be focused on furthering the science of cannabinoids and thus offer evidence through clinical trials on the conditions medical cannabis can treat. The research will include ingredient selection, product design, formulation as well as efficacy and safety testing geared to the development of a standardized formulation of s drugs and dose delivery system.
The research will begin with registration trials in the first phase studies of CBD products and will involve a range of CBD and THC ratios. The company has announced that two first phase trials have already been finalized in Chile and Canada and will provide safety and dosing data to inform the second phase.
The second part will be exploratory proof of concept trial that will use Spectrum design techniques to explore safety and efficacy as well as dose responses for target conditions. The company announced a proof of concept trials evaluating the uses of medical cannabis in the treatment of insomnia to be complete by Q2 2020 with results following in Q3 2020.
For purposes of good clinical practice and patient safety, the company has announced the implementation of a “pharmacovigilance†program to be used in capturing and documenting adverse effects of medical cannabis products plus its cannabis brands like Tweed and DNA Genetics across the globe.
Canopy Growth Chief Medical officer Mark Ware said that the company has taken a strategic approach in clinical research by partnering with experienced researchers and institutions led by the company’s scientific team to produce premium cannabis products for indications with significant unmet needs. He added that they are pleased to launch the pharmacovigilance program worldwide whereby each of the company’s over 3000 employees is trained to report adverse effects.
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