Medical cannabis consumers in Canada might soon have a new paraphernalia option.
Resolve Digital said Tuesday the first product in its range of smart vaporizers, the Resolve MD, received the approval for a medical device license for cannabis use from Health Canada.
The Cannabis Capital Conference returns to Toronto April 17-18!
What Happened
Resolve Digital said it managed to satisfy the strict regulatory standards in place for medical device establishment licenses. The license allows Resolve to distribute its vaporizer for medical purposes and is issued separately from a medical device license.
Why It's Important
The vaporizer received the first cannabis-related medical device license issued under Canada's new regulatory system, Resolve said.
Large cannabis producers like Canopy Growth Corp (NYSE: CGC) also provide medical vaporizers that were previously approved. For example, Canopy's Volcano Medic vaporizer was licensed back in 2014.
The Resolve MD is a smart vaporizer that uses technology that ensures consistent dosing using pre-fill proprietary pods with pre-selected cannabis formulations.
The company's receipt of a medical device license means the vaporizer is fully compliant with Health Canada's regulations for such devices, including satisfying medical device, biological and electrical standards throughout the design and manufacturing process.
What's Next
Resolve has plans to further expand its market into other countries and is seeking similar certifications as the one announced Tuesday in other regions — particularly Europe, which is poised to become the largest medical cannabis market within five years.
Aside from vaporizers, Resolve said it is also working on an app that would help patients capture data on medical conditions, prescriptions, family history, lifestyle and effectiveness per dose, in order to improve their medical cannabis treatment experience.
Related Links:
Cronos Group Reports 250% Revenue Growth In Q4
Canopy Growth Receives License For New Brunswick Facility From Health Canada
See more from Benzinga
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.