CB2 Insights (CSE:CBII, OTCQB:CBIIF) (“CB2” or the “Company”), a leading data-driven company focused on bringing real-world evidence-driven from the point-of-care to the medical cannabis community, today announced that it is partnering with Licensed Producer FCM Global (“FCM”), the first Colombian cannabis company to be fully licensed in research, cultivation, extraction, distribution and export. The partnership will work to create market access and the design of clinical trials to support the deployment of future FCM cannabinoid-based products. FCM owns and operates a 235,800 sq. ft. production facility in La Ceja, Antioquia, as well as an expanded cultivation and biomass production facility of 474 hectares in Tolima. The two companies will look to build a foundation for future clinical trials and product innovation in Colombia.
CB2 is one of the only purpose-built technology and CRO services for the maturing global medical cannabis market. The Company will look to blend its clinical operations with technology, analytics clinical research expertise to support FCM with market access, data collection and analysis, and drug discovery. Having three autonomous verticals allow us to put together a comprehensive suite of services and solutions to meet the need of a wide variety of stakeholders.
“Research remains the primary gap between new government regulations and patient access – with physicians creating a major barrier due to a lack of understanding of how to prescribe and integrate cannabinoid therapy into traditional treatment programs,” said Prad Sekar, CEO, CB2 Insights. “In partnership with FCM, we will look to collect real-word evidence data to allow physicians to be come more confident, the industry can be more informed and ultimately creating access for patients incorporating cannabinoid-based therapies into their traditional healthcare. FCM continues to show their leadership by recognizing that traditional healthcare protocols are the key to unlocking the potential of medical cannabis regardless of the jurisdiction. We look forward to laying a framework that places an importance in clinical trials for new products going forward.”
Despite having over US$400 million total investments from licensed producers into the Colombian medical cannabis market since regulations were enacted in 2016, medical cannabis is still not legally available for domestic patients to use. And while the country’s geography, climate, low labour costs and positive patient attitude make it an ideal market for that investment, it is not until comprehensive, clinical research occurs that the market will begin to grow.
Led by CB2 Insights’ Medical Director – Colombia, Dr. Paola Cubillos, both companies are working to increase physician education with respect to how best to incorporate cannabinoid-based medicine into their patients’ treatment plans. In tandem, both companies will also develop multi-phase clinical trials that will provide product-specific and condition-specific safety and efficacy data. The outcome will help with FMC’s drug development process as well as improve physician attitude about cannabinoid therapy.
“We are proud of the foundation that we have built in Colombia and we are ideally suited to bring about traditional pharmaceutical protocols into our business with the help of a well established contract research organization,” said Filipe Velasquez, CEO & Co-Founder, FCM Global. “CB2 Insights’ is that ideal partner as they have outstanding international experience but also have localized support to ensure we put these plans into motion efficiently and effectively.”
About CB2 Insights
CB2 Insights (CSE:CBII) is a global leader in clinical operations, technology & analytics solutions and research and development services with a mission to mainstream medical cannabis into traditional healthcare. Providing immediate market access through its wholly-owned clinical network across 12 jurisdictions, proprietary data-driven technology solutions and comprehensive contract research services designed for those in both the medical cannabis and traditional life sciences industries, CB2 Insights is able to support its partners across the entire data and research spectrum.
CB2’s Clinical Operations business unit leverages extensive experience to develop clinical models with standard operating procedures, advanced workflows, training and ongoing management support. CB2 also owns and operates its own speciality clinics including the brands Canna Care Docs and Relaxed Clarity which assess nearly 100,000 patients seeking medical cannabis treatment to provide immediate market access to US-based product manufacturers for clinical trial ‘and research programs.
The Company has built both electronic data capture (EDC) and clinical data management software (CDMS) which work to support its partners of any size to execute their data and clinical strategies.
CB2 also offers comprehensive contract research organization (CRO) services including full scale clinical trial management, trial design, monitoring and other key research functions used by licensed producers, multi-state operators and traditional pharmaceutical companies entering the medical cannabis space.
For more information please visit www.cb2insights.com.
About FCM Global S.A.S.
FCM Global S.A.S. is a fully licensed Colombian medical cannabis company producing a range of full spectrum oils, CBD isolates, and micro-emulsions in support of finished goods manufacturers in legal markets worldwide. Headquartered in Medellin, with a 235,800 ft2 production facility in La Ceja, the FCM Global platform encompasses genetics, cultivation, extraction, quality testing, formulation, and distribution. FCM Global’s “Co-Sourced Colombia” model reliably delivers lower production costs and high-quality inputs at scale to its clients in the nutritional, wellness, pharmaceutical, and research sectors. FCM Global will soon break ground on FCM Tolima, a planned 450 hectare cultivation and production site which will produce over 1,000 tons of cannabis oil at full capacity. Please see www.fcm-global.com for additional information.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CB2’s filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements regarding the opportunity to provide services and software to the U.S. cannabis industry.
Although CB2 has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CB2 disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CB2 does not assume any liability for disclosure relating to any other company mentioned herein.
No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.