As the Food And Drug Administration takes a firmer stance on the health benefit claims of CBD products, companies involved in the cannabis and hemp business have begun kicking off clinical trials and research projects aimed at quantifying the specific effects of cannabidiol.
Following federal approval, this morning British Columbia-based Tilray Inc. (NASDAQ: TLRY) imported a shipment of Good Manufacturing Processes certified CBD in capsule form to the U.S. for upcoming double bind tests.
Those capsules will be utilized in two clinical trials at the NYU School of Medicine looking at potential anti-addictive effects of CBD and methods for treating returning veterans with Post-Traumatic Stress Disorder.
The school’s Professor of Psychiatry, Dr. Michael Bogenschutz, will oversee the first trial with patients suffering from Alcohol Use Disorder alone.
Dr. Charles R. Marmar, the NYU Lucius Littauer Professor and Chair of the Department of Psychiatry, will then oversee a second test on patients suffering from both Alcohol Use Disorder and Post-Traumatic Stress Disorder together.
Discussing the clinical trial recruitment process that will begin later this summer, Dr. Marmar commented:
As CBD products continue to gain in popularity, Tilray isn’t the only Canadian cannabis company teaming up with U.S. organizations to study the effects of hemp-derived cannabidiol.
Last month Aurora Cannabis Inc (NYSE: ACB; TSX: ACB) launched a research initiative in conjunction with Ultimate Fighting Championship to study the effectiveness of CBD for treating inflammation and injuries sustained by athletes.
While the FDA is expected to continue issuing desist letters to companies making unproven health claims about CBD and new regulations on products are due to arrive later this year, a broad range of cannabis companies continue to jump into the growing industry.
Charlotte’s Web Holdings, Inc. (TSX: CWEB, OTCQX: CWBHF) just placed a series of CBD skincare products in Kroger and Smith’s grocery chains across the United States, while KushCo Holdings (OTCQX: KSHB) launched a new retail services division aimed at CBD clients earlier this week.