With medical cannabis usage now legal across Canada and in 33 U.S. states, licensed producers have been engaging in lab work, clinical trials, and scientific studies to determine the specific uses for cannabis in the medical field.
Canopy Growth Corporation (TSX: WEED; NYSE: CGC), through the company’s medical division Spectrum Therapeutics, today outlined a two-year research plan to find new uses for cannabis and new ways to market products towards specific ailments.
In conjunction with that plan, Canopy just appointed Dr. Marcel Bonn-Miller to the newly created role of Global Clinical Scientific Director. Dr. Miller moves into the position after previously working with Zynerba Pharmaceuticals as Director of Cannabinoid Research, as well as serving on the editorial board for a variety of academic journals.
Under that new leadership, Spectrum will research cannabis applications for use in pain management, sleep aids, and mood enhancement for patients while they deal with a variety of health issues.
In addition to attempting to quantify the specific effects of cannabis usage from various strains, this ongoing research also aims to find standardized medical formulations for the company to develop products that provide consistent dosages.
The next 24 months of research will be broken into two phases, with two of the initial phase 1 trials launched in Chile and Canada already completed. That first phase focuses on registration trials to discover dosage and safety details on cannabis products with differing CBD and THC ratios.
The second phase focuses on exploratory studies to find patient responses to different dosages targeted at specific medical conditions. This phase includes a currently ongoing study at the University of Montreal for treating patients with insomnia, with the results of that trial expected to be released in the second half of 2020.
Other currently ongoing trials from Spectrum and Canopy Growth include research into the following conditions:
- Anxiety disorders
- Neurodegenerative disorders
- Using CBD therapies for concussion symptoms in athletes
- Using dronabinol to treat spasticity due to multiple sclerosis (conducted through new Canopy acquisition C3)
A trial in conjunction with The Beckley Foundation will also begin this coming September to research cannabis as a pain treatment option for cancer patients.
Canopy Growth isn’t the only cannabis organization currently engaging in trials around the world, with other companies such as Aleafia Health Inc. (TSXV: ALEF, OTC: ALEAF) recently issuing the findings of studies in peer-reviewed journals. Notably, Aleafia’s study results released back in January found medical cannabis led to decreased usage of benzodiazepines.
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.