Canopy Growth unveils new cannabis commercial medical and research unit, Spectrum Therapeutics
Canopy Growth (TSX:WEED; NYSE:CGC) unveiled Spectrum Therapeutics, a new global brand that will encompass all of the company's ongoing commercial medical and clinical research operations.
These include Spectrum Cannabis, Canopy Health Innovations and recently acquired C3 Cannabinoid Compound Co., a European leader in cannabinoid-based medical therapies. Bionorica SE, one of the world's leading producers of herbal medicines, founded C3 in 2014.
Spectrum Therapeutics now encompasses the production and distribution of full-spectrum and single cannabinoid medical cannabis products; education, resources and support for patients and healthcare practitioners; as well as preclinical and clinical research and development of cannabinoid-based medicines.
“Integrating our commercial medical businesses and clinical research arm under a single entity better reflects our position as a healthcare company that's driving further acceptance of cannabinoids as mainstream medicine and addressing the medical and wellness needs of our patients worldwide," Dr. Mark Ware, CMO of Canopy Growth, said in a statement.
In addition to providing commercially available medical cannabis products on five continents, Spectrum Therapeutics will continue to offer medical cannabis education for patients and healthcare professionals in countries with legal regulatory frameworks.
Through the continuation of clinical research programs by Canopy Health and C3, Spectrum Therapeutics also will focus on the R&D of clinically ready cannabinoid drug formulations and dosage formats. In addition to supporting drug registration, this research also support's best-in-class physician and patient interaction and education for Spectrum Therapeutics' commercial operations on a global basis.