VIVO Cannabis™ Begins Australian Observational Trial
NAPANEE, ON, March 21, 2019 /CNW/ - VIVO Cannabis Inc. (TSXV: VIVO, OTCQB: VVCIF) ("VIVO" or the "Company") today announced the commencement of the Company's observational study on the use of cannabinoids as therapy for chronic pain (the "Study"). Led by a group of well-known pain specialists, the Study is taking place in Melbourne, Australia, and is expected to provide long-term (24 month) data with which to evaluate the efficacy of medical cannabis in treating pain and further support the development of VIVO's portfolio of medical cannabis products. VIVO has provided funding for the Study in the form of a research grant to its partner in the Study, Australian Medical Cannabis Service ("AMCS").
Driven by unmet clinical needs, medical cannabis products and treatment plans continue to gain momentum in Australia
said Barry Fishman, Chief Executive Officer of VIVO.
The Study will help to inform VIVO's product development through data gathered from both patients and physicians. This access to primary data is expected to continue to ensure our products address the specific health and wellness needs of our clients and customers, something that we believe provides distinct advantage. We remain committed to ensuring Australians have access to our medical cannabis, and to our efforts to change the way people view cannabis
In addition to providing funding for the Study in the form of a research grant, VIVO is working together with AMCS to create cannabis-based medications for Australian patients and has supplied the cannabis used in customized treatments for more than 150 patients to date. These patients are a mix of palliative and pain patients referred to AMCS through a growing clinical referral network across the greater Melbourne area.
VIVO, based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licences from Health Canada and operates world-class indoor cultivation facilities with proprietary plant-growing technology. VIVO has a collection of premium brands targeting unique customer segments, including Beacon Medical™, FIRESIDE™, Canna Farms™ and Lumina™. In August 2018, VIVO acquired Canna Farms, a premium cannabis company based in Hope, British Columbia. Canna Farms was B.C.'s first Licensed Producer and has several years of craft cultivation experience and expertise, as well as a significant patient base and positive cash flow. The Company is significantly expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany and Australia. VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics as well as a free telemedicine service. VIVO has a healthy balance sheet and is well-positioned to accelerate their growth in Canada and internationally.
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Disclaimer for Forward-Looking Statements
This news release contains forward‐looking statements, which are statements that are not purely historical, regarding the beliefs, plans, expectations or intentions of the Company and its management regarding the future, and should not be read as guarantees of future performance or results. Forward looking statements in this news release include, without limitation, statements: that the Study is expected to provide long-term data with which to evaluate the efficacy of medical cannabis in treating pain; that the Study is expected to support development of VIVO's portfolio of medical cannabis products; and that the Study is expected to ensure VIVO's products address specific health and wellness needs. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward‐looking statements, including, without limitation the delay or inability to complete the Study on the terms set out herein or at all, unexpected, unfavourable or invalid data or results obtained from the Study, inability to implement the results of the Study in development of VIVO's products and other factors beyond the Company's control. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's Annual Information Form for the year ended December 31, 2017 and other continuous disclosure filings, which are available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on these forward‐looking statements, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward‐looking statements as a result of new information or future events, or for any other reason, other than as required by applicable securities laws.
SOURCE VIVO Cannabis Inc.