Chatham, Ontario – October 12, 2018 – AgMedica Bioscience Inc. (“AGMEDICA” or the “Company”), a licensed producer of medicinal cannabis, is pleased to announce that the Company has entered into a strategic alliance (the “Alliance”) with Nutrasource Pharmaceutical and Nutraceutical Services (“NUTRASOURCE”), a contract research organization (“CRO”) specializing in the provision of global regulatory, clinical trial design and execution, as well as analytical and bio-analytical testing, all of which represent key components for the successful commercialization of health products. The Alliance ideally positions AGMEDICA to clinically validate the numerous cannabis-derived medicines and health products being developed based on the Company’s global intellectual property (“IP”), strategic partnerships and international joint ventures.
NUTRASOURCE brings a seasoned and proven approach to research and development, coupled with exceptional clinical trial design and implementation. Through the Alliance, AGMEDICA and its industry partners will have access to NUTRASOURCE’s expertise in generating evidence-based claims substantiation for products, a critical requirement for global regulatory approval, acceptance by the medical community and adoption by consumers. With competent and reliable scientific evidence of product claims, doctors and health practitioners are afforded the required information and confidence to recommend and prescribe cannabis-derived medicines and health products to target the treatment of specific conditions.
“We are very pleased to enter into this important strategic alliance with NUTRASOURCE, whose approach, culture and values are optimally aligned with AGMEDICA’s, as we aim to accelerate our ultimate goal of commercializing and providing access to differentiated cannabis products for the medicinal, pharmaceutical and health and wellness sectors,” said Dr. Trevor Henry, CEO of AGMEDICA. “Our relationship with NUTRASOURCE is expected to help AGMEDICA bring new cannabis products to market with trust and confidence, backed by strong science and regulatory credibility.”
William Rowe, President and CEO of NUTRASOURCE commented, “We’re thrilled that AGMEDICA has chosen NUTRASOURCE to fulfill the global regulatory and clinical trial needs across its unique portfolio of products being advanced for commercialization. AGMEDICA’s leadership role in the development of cannabis and cannabis-derived products is demonstrated by their methodical approach and thorough investment in research to confirm the therapeutic value of new and important medicines.”
About AgMedica Bioscience Inc.
As a licensed producer of medicinal cannabis, AGMEDICA is dedicated to becoming a global leader in the development and commercialization of cannabis and cannabis-derived products to support the health and wellness of our clients. We aspire to drive the evolution of the cannabis industry by focussing investment on the development and commercialization of differentiated products in the medicinal, health & wellness and pharmaceutical sectors. The Company’s established Riverview Cultivation Facility is located in Chatham, Ontario, and Phase I of our first innovative multi-tier cultivation facility is currently in production with a total annual capacity of 6,000 kg of medical-grade cannabis. Construction on Phase II of the Riverview Cultivation Facility is well under way, with completion and start-up expected in Q1 2019 which will bring total annual capacity up to 26,500 kg.
NUTRASOURCE is a premier CRO that brings unparalleled expertise in nutrition, regulatory affairs, and pharmaceutical science to help clients achieve compliance and gain market entry for health products globally. With nearly 20 years’ experience across the entire product spectrum from foods and supplements to pharmaceuticals, NUTRASOURCE provides vertically-integrated solutions and unmatched scientific acumen in the pharmaceutical and nutraceutical industries to design and execute clinical trials as well as develop regulatory strategies that provide a unique advantage in product commercialization. No other CRO has the combination of personnel, with the breadth and depth of experience in both pharmaceutical development and natural health products, providing the leadership needed to launch products with strong science and regulatory confidence – from concept to claim. www.nutrasource.ca.
William Rowe, President and CEO
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance, results or offering of products. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. These risks and uncertainties include, but are not limited to, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, and anticipated and unanticipated costs and delays. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.