Cardiol Therapeutics Inc. (TSX:CRDL) (“Cardiol” or the “Company”), a leader in the research and development of pharmaceutical cannabidiol and targeted therapies for inflammatory disease, today announced the filing of its audited year-end financial statements and management’s discussion and analysis for the year ended December 31, 2018. Both are available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.cardiolrx.com.

“Cardiol Therapeutics achieved a number of important milestones during 2018 which have positioned the Company to commercialize our proprietary, ultra-pure CardiolRx pharmaceutical cannabidiol (CBD) later this year,” stated David Elsley, President and CEO. “We are planning to launch our unique CBD formulation in the billion-dollar, supply constrained, Canadian medicinal cannabinoids market where we see a significant opportunity to introduce a premium pharmaceutical brand. We believe that CardiolRx will represent the purest, safest, and most consistent cannabidiol product in a growing market predominantly supplied by low purity products that do not meet the quality standards physicians, pharmacists and consumers expect from medicine. We are also advancing the development of novel therapeutics targeting inflammatory diseases of the heart which are characterized by high mortality, morbidity, and extraordinary healthcare costs.”


Highlights during the 2018 Fiscal Period:

We made significant progress with our CardiolRx pharmaceutical CBD program in preparation for product launch in the billion-dollar Canadian market for medicinal cannabinoids. Key accomplishments included:

  • Initializing manufacturing scale-up of our proprietary CardiolRx formulation at Dalton Pharma Services, our global exclusive Health Canada approved, FDA certified, cGMP manufacturer of pharmaceutical cannabinoids.
  • Entering into an exclusive supply agreement for Canada and Mexico with US-based Noramco, Inc., a global leader in the manufacture and supply of pharmaceutical cannabinoids. The Noramco agreement provides Cardiol with access to large-scale metric ton (one million grams) production capacity for ultra-pure pharmaceutical cannabidiol that is unparalleled in the industry.
  • Developing proprietary cannabidiol formulations in collaboration with our research partners at the University of Alberta; home of Canada’s Nanotechnology Institute.
  • Filing comprehensive patent applications covering proprietary formulations that we believe will offer competitive advantages designed to meet the requirements of physicians, pharmacists and consumers.

We advanced our drug innovation program aimed at developing nanotherapeutics designed to target pharmaceutical cannabidiol and other important medicines at sites of inflammation in the heart. Key accomplishments included:

  • Announcing results from our ongoing research program at the world-renowned Houston Methodist DeBakey Heart & Vascular Center, Texas, demonstrating the ability of our patented nanotherapeutics to target inflamed tissue in models of heart failure. This new data demonstrated that Cardiol’s propriety nanoparticles accumulate at regions of fibrosis in diseased hearts, offering the potential for an entirely new way to target effective medications to sites of disease.
  • Filing a comprehensive provisional patent application in the United States covering new ways to target anti-inflammatory and anti-fibrotic drugs directly to the regions of the heart where they will be most effective.
  • Entering into a USD$3,000,000 research and development agreement with TecSalud and Nano4Heart, a vast private research network headquartered in Monterrey, Mexico with collaborative relationships with the Houston Methodist DeBakey Heart & Vascular Center, the University of Calgary and the Massachusetts Institute of Technology (MIT), to promote research and development in nanoscience and nanotechnology. The primary objective of this collaboration, which is being 70% funded by the Instituto Tecnológico y de Estudios Superiores de Monterrey’s Clinical Academic Research Organization, S.A. de C.V. , is to develop the experimental evidence necessary to support advancing breakthrough nanomedicines for heart failure into clinical development during 2019.

We made key appointments to our Management Team, Board of Directors, and Scientific Advisory Board, bringing together a wealth of experience and expertise in developing and commercializing novel therapeutics for poorly served areas of medicine. Key appointments included:

  • Dr. Eldon Smith, OC, LLD (Hon), MD, FCAHS, FCCS, FRCPC, as Chairman of the Board of Directors. Dr. Smith’s extensive experience in the cardiovascular field has led him from the Head of Cardiology and Dean of Medicine at the University of Calgary and the Foothills hospital in Calgary to the Chair of the Steering Committee for Canadian Heart Health Strategy. He is an Officer of the Order of Canada and has published more than 250 papers over the past 20 years. Dr. Smith has been a director of more than ten public companies, including Resverlogix Corp., Canadian Natural Resources and Zenith Capital Corp.
  • Chris Waddick, MBA, CPA, as Chief Financial Officer. Mr. Waddick has thirty years’ experience in financial and executive roles in the biotechnology and energy industries, with substantial knowledge of public company management and corporate governance, and in designing, building, and managing financial processes, procedures, and infrastructure. Chris spent more than twelve years at Vasogen Inc., a biotechnology company focused on the research and commercial development of novel therapeutics for the treatment of heart failure and other inflammatory conditions that raised over $200 million, completed international multi-center pivotal trials involving 2500 patients and reached a market capitalization of over US$1 billion.
  • Anne Tomalin, BA, BSc, RAC, to Director Regulatory Affairs. Ms. Tomalin is the founder and currently Executive Director at TPIreg, a division of Innomar Strategies Inc. She has a strong background in business, government, regulations and reimbursement policies and has practiced exclusively in regulatory affairs since 1971. Anne has participated in the Regulatory Initiative Advisory Committee for the Pharmaceutical Manufacturers Association Canada (PMAC). Ms. Tomalin has also served on the executive of the Pharmaceutical Sciences Group (PSG) and the Canadian Association of Pharmaceutical Sciences Group (PSG) and the Canadian Association of Pharmaceutical Regulatory Affairs (CAPRA).
  • Dolly Kao, BSc, JD, as Intellectual Property Counsel. Ms. Kao is an intellectual property lawyer, a registered patent agent, and a registered trademark agent with over 20 years of experience gained at several leading IP firms in Toronto, Canada. She has been practising exclusively in intellectual property (IP) for clients primarily in the chemical, pharmaceutical and biotech industries. Ms. Kao is well versed with Canada’s Patented Medicines (Notice of Compliance) Regulations, which provide an avenue for innovative drug companies to gain time-limited freedom from generic competition by listing patents on the Patent Register maintained by the Minister of Health.
  • Dr. Guillermo Torre-Amione, MD, PhD, to the Board of Directors. Dr. Torre-Amione is former Chief of the Heart Failure division and former medical Director of Cardiac Transplantation at the Houston Methodist DeBakey Heart and Vascular Centre. Now as President of TecSalud, an academic medical center and medical school of the Instituto Tecnológico y de Estudios Superiores De Monterrey in Mexico, he spearheads the Gene and Judy Campbell Laboratory for cardiac transplant research where his primary areas of research include heart failure, cardiac transplantation and the role of immune response in modulating the progression of heart failure.
  • Deborah Brown, BSc, MBA, to the Board of Directors. Deborah is Managing Partner of Accelera Canada Ltd., a specialty consultancy firm that assists emerging biopharma ventures with the development and implementation of their Canadian market strategy. She has extensive North American leadership experience from 15 years at EMD Serono (a division of Merck KGaA, Merck Serono) where she reached President and General Manager of the Company’s Canadian operations. Currently, she sits on the Boards of Life Sciences Ontario, Oncolytics Biotech Inc., and the Strategic Executive Advisory Council for Canadian Cancer Trials Group.
  • Iain Chalmers, BA, BEd, MBA, to the Board of Directors. Iain is a professor of Marketing and Alcohol Business Management at Centennial College in Toronto, Ontario. He has an impressive thirty years’ experience in product marketing and the Consumer Packaged Goods business with eight years as Vice President of Marketing and Innovation for Diageo Canada, and eleven years at Gillette/Procter & Gamble, including General Sales and Marketing Director for the Gillette Grooming Division.
  • Dr. James Young, MD, as Chair of the Company’s Scientific Advisory Board. Dr. Young is the Chief Academic Officer at the Cleveland Clinic. He is also the George and Linda Kaufman Endowed Chair in the Kaufman Center for Heart Failure, Heart & Vascular Institute. Dr. Young is Professor of Medicine and Vice Dean for Academic Affairs at the Cleveland Clinic Lerner College of Medicine of Case Western Reserve University. During his career, he has contributed substantially to the areas of heart failure and cardiac transplantation both clinically and through his extensive research career. Dr. Young has participated in more than 150 clinical trials as an investigator and published almost 600 manuscripts and several textbooks.

We raised gross proceeds of over $28 million to support the manufacturing scale-up and commercial launch of our CardiolRx pharmaceutical cannabidiol products and to advance novel formulations of cannabidiol and other pharmaceuticals designed to target inflammation in poorly served areas of medicine. Key corporate finance accomplishments included:

  • Closing a brokered private placement totaling approximately $12.9 million principal amount of unsecured convertible debentures of the Corporation. In December 2018, the principal plus accrued and unpaid interest was converted into common shares.
  • Completing our IPO on the Toronto Stock Exchange (TSX) which was led by Noramco, our US pharmaceutical partner, and raised gross proceeds of $15,000,000 through the placement of 3,000,000 units at $5.00. Each unit consisted of one Class A common share and one common share purchase warrant exercisable into one Common Share at the price of $6.50 per share for a period of two years.

About Cardiol Therapeutics

Cardiol Therapeutics Inc. is a leader in the research and commercial development of pharmaceutical cannabidiol products and targeted therapies for inflammatory disease. The Company is leveraging its expertise in pharmaceutical cannabinoids to develop: (1) an ultra-pure pharmaceutical cannabidiol (CBD) product for commercialization in the billion dollar market for medicinal cannabinoids in Canada; (2) nanotechnologies designed to deliver cannabinoids and other anti-inflammatory drugs for the treatment of heart failure, a leading cause of death and hospitalization with associated healthcare costs exceeding $30 billion annually in the U.S. alone; and (3) immunotherapeutics in combination with cannabinoids for the treatment of Glioblastoma Multiforme, the most malignant and deadly form of cancer of the central nervous system and a Fast Track eligible Orphan Indication. For further information about Cardiol, please visit the Company’s website at www.cardiolrx.com.

For further information, please contact:

David Elsley, President & CEO
905.491.6793
david.elsley@cardiolrx.com

Trevor Burns, Investor Relations
905.491.6791
trevor.burns@cardiolrx.com

Cautionary statement regarding forward-looking information:

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws which may include, but is not limited to, statements with respect to: future events; the future performance or the intended business strategy of Cardiol Therapeutics Inc. (“Cardiol”); the potential for Cardiol’s licensed drug encapsulation and delivery technologies to enhance the bioavailability of pharmaceuticals; management’s expectations regarding estimated future pharmaceutical research and development opportunities, collaborations and prospects; the success and proposed timing of Cardiol’s product development activities, including, but not limited to, the proposed timeline of Cardiol’s product candidate pipeline for commercial introduction; the ability of Cardiol to develop its product candidates; Cardiol’s plans to research, discover, evaluate and develop additional products; Cardiol’s proposed future collaborations to advance Cardiol’s lead nanoformulations into clinical development; and the potential for Cardiol’s cannabinoid-based products to provide sources of future revenue. All statements, other than statements of historical fact that address activities, events or developments that Cardiol believes, expects or anticipates will, may, could or might occur in the future are “forward-looking information”. Forward-looking information is frequently identified by the use of words such as “plans”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “forecasts”, and other similar words and phrases, including variations (and negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions, events or conditions “may”, “could”, “should”, “would”, or “will” be taken, occur or be achieved. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. These risks and uncertainties and other factors include that the success of Cardiol’s product candidates will require significant capital resources and years of clinical development efforts; the results of clinical testing and trial activities of Cardiol’s products; Cardiol’s ability to obtain regulatory approval and market acceptance of its products; Cardiol’s ability to raise capital and the availability of future financing; Cardiol’s lack of operating history; unforeseeable deficiencies in the development of Cardiol’s product candidates; uncertainties relating to the availability and costs of financing needed in the future for Cardiol’s research and development initiatives; Cardiol’s ability to manage its research, development, growth and operating expenses; the potential failure of clinical trials to demonstrate acceptable levels of safety and efficacy of Cardiol’s product candidates; Cardiol’s ability to retain key management and other personnel; risks related to fluctuations in medicinal cannabinoid markets in Canada and worldwide; uncertainties regarding Cardiol’s ongoing collaborative and manufacturing partnerships; uncertainties regarding results of researching and developing products for human use; Cardiol competes in a highly competitive and evolving industry; Cardiol’s ability to obtain and maintain current and future intellectual property protection; and other risks and uncertainties and factors. These risks, uncertainties and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events or results or otherwise. Although Cardiol believes that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks, and uncertainties and are not (and should not be considered to be) guarantees of future performance. It is important that each person reviewing this news release understands the significant risks attendant to the operations of Cardiol.

infoClick here to connect with Cardiol Therapeutics Inc. (TSX:CRDL) for an Investor Presentation. 

Source: www.newsfilecorp.com

Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), announces that, further to its news releases dated December 22, 2020 and January 7, 2021 the Company has closed its non-brokered private placement financing comprising of 7,500,000 units, at $0.10 per unit, for total gross proceeds of $750,000 .

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 Revive Therapeutics Ltd. (” Revive ” or the ” Company “) (CSE: RVV) ( USA : RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce that is has entered into an agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc. as the co-lead underwriters (collectively, the ” Underwriters “), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 20,000,000 units (the ” Equity Units “) at a price of $0.50 per Equity Unit for gross proceeds to the Company of $10,000,000 (the ” Offering “).

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The Australian cannabis market has been maturing since medical marijuana was federally legalised in 2016.

The next year, Food Standards Australia New Zealand legalised low-THC hemp food for human consumption in Australia. The country went on to legalise medical marijuana exports in 2018, allowing medicinal marijuana products developed in Australia to be exported to licenced recipients in countries where the drug is legal.

Recreational cannabis remains federally illegal in the country, but recent legislation shows the door may be opening. In 2019, the Australian Capital Territory passed a bill allowing for the possession and growth of small amounts of cannabis for personal use. The law went into effect on January 31, 2020.

More recently, in late 2020, the Therapeutic Goods Administration greenlit the sale of low-dose cannabidiol (CBD) through over-the-counter methods without a prescription. The ruling from the Australian regulatory agency is expected to officially come into effect in February 2021.

With these and other changes in the works, Australia’s cannabis industry is projected to have long-term potential. The legal cannabis market in Oceania is expected to be worth US$1.55 billion by 2024, with Australia accounting for 79 percent of the region’s market, Prohibition Partners forecasts.

According to a study from FreshLeaf Analytics, the value of the medical market in Australia reached AU$95 million in 2020, and the firm expects revenue to jump again to over AU$150 million in 2021. In short, Australia’s role in the global cannabis industry will certainly continue to grow.

Here the Investing News Network profiles 10 ASX cannabis stocks with market caps between AU$30 million and AU$225 million. All ASX cannabis stocks below are listed in order of market capitalization from largest to smallest, with data compiled using TradingView’s stock screener on January 12, 2021.

1. Creso Pharma (ASX:CPH)

Market cap: AU$209.83 million

Creso Pharma was the first company to import medical cannabis into Australia and the first to launch these products in Switzerland for people, as well as animals. The cannabis company’s anibidiol product was the first hemp CBD complementary feed in animal health thanks to a partnership with Virbac Switzerland. Creso Pharma has also launched cannaQIX in Switzerland; it was the first CBD nutraceutical in human health.

The company’s medicinal cannabis product lines cover therapeutics, nutraceuticals, animal health, lifestyle and topicals.

2. Cann Group (ASX:CAN)

Market cap: AU$176.84 million

Cann Group provides a range of medicinal cannabis products for patients in Australia and globally. In 2017, the company was granted Australia’s first cannabis research licence, as well as the first medicinal marijuana cultivation licence. Cann Group partners with leading medical scientists in Australia to research and harness the therapeutic potential of cannabinoids, terpenes and other bioactive constituents of cannabis.

The company has secured supply agreements in global cannabis markets, including the UK, Germany and other European segments.

3. Incannex Healthcare (ASX:IHL)

Market cap: AU$166.42 million

Incannex Healthcare is a clinical-stage cannabinoid medicine company with global export capacity. It has four clinical programs underway for the development of a variety of cannabis medicinal products aimed at major unmet medical needs, including obstructive sleep apnea, traumatic brain injury/concussion, sepsis-associated acute respiratory distress syndrome and temporomandibular joint disorder.

In 2020, the company worked to advance its clinical trials. By the second half of the year, cannabinoid products accounted for Incannex’s entire revenue stream.

4. Botanix Pharmaceuticals (ASX:BOT)

Market cap: AU$131.37 million

Botanix Pharmaceuticals has a product pipeline that includes three advanced clinical programs using synthetic cannabidiol for the topical treatment of serious skin diseases and for antimicrobial applications. The company also has an exclusive licence to use a proprietary drug-delivery system called Permetrex for direct skin delivery of pharmaceuticals.

Botanix Pharmaceuticals’ programs are focused on treating acne, rosacea, atopic dermatitis and microbial infection. The company secured a clear development path for its BTX 1801 synthetic cannabidiol antimicrobial product after the successful completion of a pre-investigational new drug meeting with the US Food and Drug Administration.

5. Althea Group Holdings (ASX:AGH)

Market cap: AU$114.2 million

Althea Group Holdings takes the concept of medical cannabis a step further with its work as a pharmaceutical-grade cannabis supplier. In addition to offering relief through accessible medical cannabis, the company is implementing components of the plant in its research on advanced drugs.

Althea has successfully expanded into the global cannabis market with a wholesale supply agreement to import a range of Althea-branded finished products for sale and distribution in South Africa beginning in Q2 2021. This agreement came on the heels of the news that the company is slated to become the first commercial supplier of Australian medicinal cannabis extract products to the German market, with all necessary licences for sale and distribution granted by the German government.

6. Zelira Therapeutics (ASX:ZLD)

Market cap: AU$113.79 million

Zelira Therapeutics’ efforts are on unmet clinical needs and on using medicinal cannabis to treat a range of diseases and disorders. Its most common target areas include pain, anxiety and sleep.

Zelira is largely focused on developing treatment options using plant-based medicinal marijuana, and currently has three clinical-stage programs with a focus on insomnia, autism and opioid reduction. The company is also conducting a pre-clinical research program to test cannabinoids in breast, brain and pancreatic cancer.

7. Medlab Clinical (ASX:MDC)

Market cap: AU$75.51 million

Medlab Clinical is a medical research and development company focused on novel biotherapeutics such as nutraceuticals and pharmaceuticals. The company is also developing pharmaceutical cannabis products.

In early 2020, Medlab Clinical launched the NanaBis Observation Study in Australia. NanaBis is a cannabis-based pain treatment drug that may prove useful as an alternative to opioid medication. It is also being used to investigate cancer pain management.

8. BOD Australia (ASX:BDA)

Market cap: AU$49.25 million

BOD Australia is focused on cannabis and hemp-related products. It develops, distributes and markets health and skincare products created using plant-based extracts in Australia. The company secured a foothold in the European cannabis market in 2020 with a AU$200,000 purchase order for four Swiss-branded hemp seed oil products to be sold in France, the Netherlands and the UK.

BOD Australia’s reach in Australia ranges from selling prescription and over-the-counter products to more than 1,000 outlets, such as pharmacies, retail stores and healthcare chains. It also has distribution agreements with two pharmacy wholesalers in Australia.

9. IDT Australia (ASX:IDT)

Market cap: AU$42.47 million

One of Australia’s oldest listed life science companies, IDT Australia is a pharmaceutical manufacturing company with extensive experience in the development and production of pharmaceutical products. Through its GMP-compliant facilities, the company provides full-scale services for new drug development, plus scale-up and commercial active drug manufacturing for local and international clients.

IDT Australia’s clients include Cann Group; IDT Australia is the manufacturer of the medical cannabis products that are a part of two of Cann Group’s export supply agreements with European and UK partners.

10. MMJ Group Holdings (ASX:MMJ)

Market cap: AU$31.04 million

MMJ Group Holdings has a wide range of cannabis investments, including healthcare products, technology, infrastructure, logistics, processing, cultivation, equipment, retail and research and development.

Among other companies, it has invested in Harvest One Cannabis (TSXV:HVT,OTCQB:HRVOF), which develops health and wellness products; Fire & Flower Holdings (TSXV:FAF,OTCQX:FFLWF), a recreational cannabis retailer that’s developed a variety of cannabis products and accessories; and MediPharm Labs (TSXV:LABS,OTQQX:MEDIF), a cannabis extraction company that received its cannabis oil production licence from Health Canada in 2018. MediPharm Labs has launched cannabis extraction services in Australia.

Investor takeaway

The presence of these ASX-listed cannabis companies shows that the cannabis industry in Australia is undoubtedly growing, as are investment opportunities in Australia’s cannabis industry. While recreational marijuana remains illegal in the land down under, the medical cannabis industry is thriving, making that side of the sector worth considering.

So far, Australia has no timeline attached to the legality of recreational use of marijuana, but it will be a story to watch over the coming years for those interested in the space.

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Legal cannabis is spreading. According to a new report by Grand View Research, the global legal marijuana market is expected to reach US$73.6 billion by 2027 with a compound annual growth rate of 18.1 percent.

A survey of over 1,000 US consumers found that the modern cannabis user is largely representative of the general population. Moreover, cannabis consumption today blurs the lines between strictly recreational or medical. In fact, more than 50 percent of consumers report using cannabis for both purposes. As THC and CBD products make their way into an even wider array of product categories, our frame of reference for the modern cannabis user will continue to evolve.

In 2019, the medical cannabis market took home a leading revenue share of 71 percent, driven by the widespread adoption of cannabis as a pharmaceutical alternative for a wide range of conditions, including cancer, arthritis, Parkinson’s disease and more. A growing need for effective pain management therapies is expected to boost product demand even further.

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Khiron Life Sciences Corp. (TSXV:KHRN) is a vertically-integrated medical cannabis company fully licensed to conduct its core operations in Colombia.Send me an Investor Kit

Major telehealth platforms in the medical cannabis industry

Telehealth represents the intersection between innovative technology and the forefront of medical science. While remote medical practice saw its beginnings more than half a century ago, recent technological advancements have connected more patients to physicians than ever before.

In the US, platforms like NuggMD and IndicaMD provide patients with an online medical cannabis card that enables remote purchase of the drug. Patients can meet with physicians over secure video chat and can be approved to access cannabis within minutes. Physicians typically follow-up with patients by email, recommending the types of cannabis that would best alleviate their ailments and ensuring that they don’t purchase the wrong products. Other platforms exist to oversee the rapid delivery of cannabis and hemp products to patients across participating states.

Other parts of the world are undergoing the same transition. It has been more than eight years since Colombia — a country that represents more than a quarter of the world’s total export quotas — decriminalized the possession of small amounts of the drug, and roughly four years since the country legalized medical cannabis. In 2019, Colombia’s Constitutional Court overruled a ban on the public consumption of cannabis, which many considered a stepping stone toward full legalization. Recently, Colombia became one of the first countries in the world to extend national health insurance for patients requiring medical cannabis as a first-line therapy.

Khiron Life Sciences (TSXV:KHRN) was the first firm in Colombia authorized to sell both high and low THC formulations of medical cannabis. The company owns a telehealth platform that has accounted for over 5,600 medical cannabis prescriptions issued to date. Additionally, in June 2020 the company’s Doctor Zerenia telehealth platform was responsible for 14 percent of Khiron’s total medical consultations.

Since becoming the first company to fill medical cannabis prescriptions in Colombia, Khiron reports that 92 percent of its patients have experienced a marked improvement in their primary condition after four months of treatment. In light of these results, the Government of Colombia issued a directive that Khiron’s medical cannabis products and clinic services be covered by the country’s major health insurance providers. While countries such as Germany and the Czech Republic have taken similar legislative actions, a key difference in Colombia is that cannabis is considered a first line therapy with a vast array of applicable medical conditions. With more than 94 percent of Colombia’s population carrying health insurance policies, Colombia is quickly becoming one of the most favourable jurisdictions in the world for patient access; moreover, it has been shown that patient uptake is significantly increased by insurance coverage.

The next step forward for telehealth platforms includes opportunities such as virtual patient education and the fast, reliable delivery of essential drugs such as medical marijuana. Virtual care is also expected to expand across different types of patients, including those requiring intensive care. In the wake of the COVID-19 pandemic, many long-term care facilities have already adapted remote patient monitoring to maintain the safety of staff and patients.

The focus: Accessibility and improving patient outcomes

Medical marijuana has the power to improve patient outcomes across demographics. In the wake of groundbreaking research, patients, physicians and retailers are working together to increase the drug’s accessibility for patients who require relief from a range of health conditions. Telehealth platforms have been instrumental in not only increasing accessibility to medical marijuana, but also in improving quality of life across diverse populations of people.

A recent study completed by Canopy Growth (NASDAQ:CGC,TSX:WEED) in November 2020 found the absence of long-term toxicity despite long-term usage of CBD in a preclinical model, supporting the advancement of recent initiatives aimed at discovering CBD’s full range of therapeutic benefits. While CBD and tetrahydrocannabinol (THC) offer many of the same benefits, high levels of THC are responsible for most of cannabis’s psychoactive effects.

While the chronic pain segment dominated the medical cannabis market in 2019, application toward mental illness is expected to witness the fastest growth over the seven-year forecast period. Worldwide, a growing number of people suffer from depression, anxiety and other debilitating mental conditions with few low-risk pharmaceutical alternatives.

Medical cannabis is also becoming more popular among older adults. A recent study highlighted that cannabis use among individuals aged 65 and older has been steadily increasing, a trend that is consistent with reports from physicians who recommend cannabis in their daily practices. In the face of growing public acceptance and reduced stigma, we are beginning to see an increasing number of older adults rely on cannabis for relief against chronic pain, insomnia, neuropathy, anxiety and other conditions that traditionally call upon pharmaceuticals.

Much of the momentum in the medical cannabis market can be owed to the rise of telehealth platforms and health digitization efforts, increasing ease of access and promoting transparency. Over the next decade, legalization, increased awareness and the rise of remote medicine are expected to facilitate growth, creating lucrative opportunities for market stakeholders.

Takeaway

Telehealth platforms represent one of the easiest ways for patients, providers and retailers to collaborate remotely and fulfill needs faster. As more physicians and policymakers begin to recognize digital health tools as an advantage for maximizing efficiency and safety in health care, existing medical cannabis platforms are well-positioned to take advantage of a large-scale digital transition.

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 BioHarvest Sciences Inc. (CSE: BHSC) (the “Company” or “BioHarvest”) invites its shareholders and the general public to join a Live Video Conference (“Webinar”) on Thursday, January 21st, 2021 at 2:00 PM Eastern Standard Time (11:00 AM Pacific Standard Time). Ilan Sobel, CEO of BHSC, will host the event and discuss progress on Bioharvest’s Growth Plan, which will include highlights of the 2020 milestones achieved, key business capabilities built, and will provide an important overview of 2021 Priorities.

The presentation will be approximately 35 minutes, followed by a live question and answer session.

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