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VICTORIA, Australia, 5 September 2019 /PRNewswire/ -- Spectrum Therapeutics Australia (Spectrum), the medical division of Canopy Growth Corporation Australia (Canopy Growth), is pleased to announce that the Therapeutic Goods Administration (TGA) has approved the registration of its Storz & Bickel GmbH & Co. KG (Storz & Bickel) medical standard vapourisers and an update on local operations.
With a 22-year track record of breakthrough innovations, Storz & Bickel is widely recognised as the global leader in medically approved vapouriser design and manufacturing, most notably the Volcano® Medic and the Mighty® Medic. Storz & Bickel has spent the last two decades developing an automated and internationally certified factory, achieving ISO 13485[1] certification in 2009.
"Medicinal cannabis is not a one-size-fits-all approach," said Ben Quirin, Asia-Pacific Managing Director, Canopy Growth, "so having a registered device available for patients is crucial to ensuring a range of products are available locally that meets the diverse needs of patients and can be administered safely with the support of their medical professional."
Canopy, parent company of Storz & Bickel, launched its Spectrum Therapeutic Asia-Pacific Headquarters last year and is currently importing products from Canada, which have been tested to comply with TG093 standards, while the facility, located in Victoria, is retrofitted and licensed to meet Australian regulatory standards.
"Patient numbers are growing in Australia, we are seeing this in the SAS approval numbers. While we are currently importing our products from Canada, our first priority has always been to deliver locally produced medicinal cannabis products for patients," says Quirin.
"We have secured the permits required to start construction, with the expectation of completion by first quarter 2020. Our completed facility will produce approximately 15,500 kg of dry flower per year which we will use to develop standardised and GMP-certified dried flower, oil and Softgel capsules."
Here's to Future Growth.
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1An ISO 13485 certification means that the Storz & Bickel's facilities have been scrutinised by external auditors and found to be compliant with all requirements needed to produce medical devices. |
Contact:
Canopy Growth Australia
Renee Shingles
Media Relations
renee.shingles@canopygrowth.com
+61 402 759 238
About Canopy Growth Corporation
Canopy Growth (TSX: WEED, NYSE: CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices 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's medical division, Spectrum Therapeutics, is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercialisable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics. The Company operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognised cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer 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 value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 4.7 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com
About Spectrum Therapeutics
Spectrum Therapeutics, the medical division of Canopy Growth Corporation (TSX: WEED, NYSE: CGC), is dedicated to educating healthcare practitioners, furthering the public's understanding of medical cannabis and its various applications, and cutting edge, commercialisable research and IP development. Founded in Canada, Spectrum Therapeutics operates in Australia, South America, Africa and across Europe. Its products are available in a wide range of potencies and formats designed to simplify the dialogue around strength and dosage by applying a colour-coded spectrum to categorise medical cannabis according to THC and CBD levels.
Spectrum Therapeutics' offerings include whole flower cannabis, oils and new innovations such as Softgels in addition to single cannabinoid medicine Dronabinol under the brand Bionorica Ethics. Through product simplification, robust clinical research and ongoing education of healthcare professionals, Spectrum Therapeutics is committed to addressing the unmet medical needs of patients around the globe.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include respect to project completion dates and grow projections. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including content development and such risks contained in the Company's annual information form dated June 5, 2019 and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
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