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Canopy Growth (TSX: CGC) (OTC: TWMJF) unveiled a new initiative today, Canopy Health Innovations (CHI), a cannabis research incubator that it formed in August. CHI will conduct exploratory studies and early stage clinical testing for cannabis products capable of disrupting existing pharmaceutical product categories.
There is a unique opportunity to develop an unmatched intellectual property portfolio in the medical cannabis industry. We believe that Canada is emerging as a potential global leader in cannabis research, and that the Canadian policy framework will enable CHI to access research products approved for human use. CHI’s goal will be to drive the medical transformation of whole plant cannabis options from dried flowers to forms and dose forms more consistent with traditional medical practice.
Bruce Linton, Chairman and CEO of Canopy Growth
CHI, which will operate outside of Canopy Growth, will be owned by the company as well as outside investors. Dundee Securities is currently conducting a private placement of shares, raising $7mm from accredited investors for the new incubator.
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