Image via Cannevert/Veritas Pharma
The medicinal benefits of Cannabis are one of the most promising catalysts in the Health Care space right now. But in order for that potential to be realized, the industry needs to validate the health claims with more research backed by scientific facts and empirical data. Evaluating the safety and effectiveness of medical marijuana for various ailments on a pharmaceutical level is crucial to advancing the sector. Pharmacy legislation and regulatory issues are just some of the unique barriers cannabis researchers have to deal with, and many companies are just not equipped or properly positioned to conduct accurate scientific analysis.
One of the few companies excelling in the science of Cannabis research and development, however, is Veritas Pharma Inc. (VRT:CSE). Veritas, along with its research arm Cannevert Therapeutics Ltd., continues to achieve significant progress toward their ultimate goal of providing conclusive scientific evidence surrounding claims of medical marijuana for doctors and patients to better understand Cannabis-based treatments.
The company’s clinical development pipeline currently includes marijuana’s effects on treating chronic pain (e.g. cancer pain), nausea and vomiting, muscle spasms, epilepsy and Post-Traumatic Stress Disorder (PTSD). The company takes a three-pronged to developing its scientific research and development:
- First, we aim to chemically profile different marijuana cultivars.
- Subsequently, those same cultivars will pharmacologically be profiled in the search for disease specific strains.
- Finally, we aim to perform clinical trials to establish the clinical utility of each cultivar.
Combined with its strategic alliances, Veritas intends to leverage its science to “effectively address the concerns over the medical cannabis industry’s varied output in content and quality, potency and efficacy.”
This month alone, Veritas announced an agreement with AlphaPheno Inc. to collaborate in research and development, provided an update for Cannevert’s Health Canada dealer’s license application and outlined a plan for its MMPR facility in Sechelt, British Columbia.
Reaching the United States Market Through Collaboration
Collaboration is key to enhancing innovation and Veritas certainly understands that, as evidenced by its recently announced agreement with AlphaPheno. As a Tier 3 cultivator and processing licensee in the State of Washington, AlphaPheno can apply for a Marijuana Research License, which provides for the ability to produce, process and possess marijuana. AlphaPheno will also be able to conduct research on the efficacy and safety of marijuana as part of medical treatment.
Veritas will create the strategy for the R&D program, and provide advice on the equipment, protocols and qualified personnel needed to for these programs. Most importantly, the deal opens up the US market for Veritas.
“Veritas is excited to expand into the United States market,” Dr. Lui Franciosi, CEO of Veritas, stated in the announcement. “Marijuana Business News estimates that the national US market is in the multi-billion a year range, while Huffington Post estimates the market is around $35 billion a year. Despite the range of estimates, it is very clear that the market opportunity is extremely substantial. We have the science, the experience, the team, and have an economic business model. Our team has created over a billion dollars of shareholder value in their past ventures and now is very excited to be involved in this new venture which is poised to be a very lucrative industry.”
The work with AlphaPheno continues to demonstrate Veritas’ commitment to building research behind medical marijuana and its potential.
Cannevert Moves Closer to its Dealer’s License
In Canada, Veritas’ research arm Cannevert Therapeutics is also in the process of acquiring its dealer’s license, which make it one of the few laboratories in the country allowed to perform analytical testing and biological screening of cannabis and hemp for licensed producers. The cannabis strains tested by Cannevert will eventually come directly from Veritas’ conditional acquisition of Sechelt Organic Medicine, which is in the process of obtaining a commercial grower’s license.
Sechelt has had an application pending with Health Canada since July 2014 for the building of a 10,000-square foot growing facility. The plans, compliant with government regulations for this facility include 6,800 square feet of budding rooms, 3,000 square feet of cloning rooms, as well as a small testing lab and secure storage room. “Our goal is to create shareholder value,” Franciosi said in a recent statement “To achieve this, we plan to create the most effective disease-specific strains of marijuana, and to provide conclusive scientific evidence so doctors and patients alike can recommend and use our proprietary strains with confidence. A key portion of the strategy is to produce high quality, consistent marijuana plants.”
“I am confident that with our strategy, which combines organic growing practices, industry leading testing standards, and scientific approaches to growing methods, we can produce the highest quality strains required for the branding of our proposed products,” he continued. “Good business allows for good revenue and good revenue allows for good profit and this too, is a goal for Veritas.”
Veritas’ strategy intends to bring unique cannabis cultivars to market quickly. The company’s advanced research team aim to profile multiple strains chemically and pharmacologically. With this scientific evidence already completed, developing a clinical platform for each well-tested strain will guarantee speed and cost-efficiency.
The company’s team continues to execute on its plan to support medical marijuana claims with real science. As one of the few companies equipped and positioned to do so, Veritas’ success will be essential to the wider expansion and adoption of medical cannabis treatments.
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