Canopy Growth Corporation (TSX:WEED, NYSE: CGC) (“Canopy Growth” or the “Company”) and its wholly owned subsidiary, Canopy Health Innovations Inc. (“Canopy Health” or “CHI”) is pleased to announce that approval has been received from the Veterinary Drug Directorate of Health Canada to research the effectiveness of cannabidiol (“CBD”) to treat anxiety in certain animals. The research will be conducted by Canopy Animal Health (“CAH”), a division of Canopy Health which focuses on developing cannabis-based healthcare products for companion animals.
The approval comes in the form of a No Objection Letter for the use of a proprietary CBD enriched oil formulation, previously administered in preclinical dosing and safety studies, as a potential therapy for anxiety. The CBD formulation will be produced by Canopy Growth in its GMP-certified production facility in Smiths Falls, Ontario.
“Our passion to create safe and effective products for animals is driven by the love we share for our pets,” commented Marc Wayne, Managing Director, Canopy Health Innovations. “The use of natural-occurring cannabinoids as a therapy for companion animals is a logical new forefront of medical discovery and the research we are working on at CAH is world leading. These trial approvals mark a significant milestone on the journey of making cannabis-based drugs accepted and recommended by veterinarians.”
Canopy Animal Health, the global leader in cannabinoid science for pets, continues to build a strong portfolio of safety and dosing data for certain animals which it plans to share with the veterinary community and pet owners, through publications and scientific conferences.
Canopy Health continues to focus on the robust research and development of innovative cannabis-related products. Recently, it was announced that Canopy Growth had acquired the remaining unowned interest in Canopy Health, a move that will further accelerate CHI’s efforts to research effective cannabis formulations and dose delivery systems for human and animals.
Here’s to Future Growth (and to helping our pets!)