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Aleafia to Launch Cannabis R&D Division Aleafia Labs
Patient Data, Intellectual Property to be Used in Development of Proprietary Products
TORONTO, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF, FRA: ARAH) (“Aleafia“) or (the “Company“), a highly differentiated cannabis company with major cannabis cultivation and medical clinic operations is formally launching a research, development and innovation division to be called Aleafia Labs (“Aleafia Labs”).
Aleafia Labs will leverage the company’s existing patient database and intellectual property to advance the development of proprietary cannabis products. R&D activities will focus on the development of cannabis products that may act as a replacement for addictive prescription opioids and sleeping aids.
Dr. Gary Goodyear, Aleafia’s President of Clinic Operations, led the Government of Canada’s research and innovation programs as the federal Minister of State for Science and Technology. Aleafia previously announced a medical cannabis sleep study with Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) and expects to announce a new biotechnology study in the near term.
“Aleafia is uniquely positioned to develop intellectual property and commercial products following a data-driven approach,” said President of Clinic Operations, Dr. Gary Goodyear. “While the relationship most cannabis companies have with their patients ends at the point of sale, our physicians closely monitor and track a patient’s progress throughout the entire treatment cycle. This unique data will lead to the development of innovative cannabis products.”
“For far too long, the answer to a patient’s sleeping disorder or chronic pain has been a prescription and a bottle of pills,” said Aleafia Chief Medical Officer Dr. Michael Verbora. “With a clinical approach to research and development, we will be able to tackle some of the largest public health problems of our time.”
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About Aleafia Health Inc.:
Aleafia is a vertically integrated, national cannabis company with major medical clinic, cannabis cultivation and R&D operations. The company is a federally licensed producer and vendor of cannabis and will reach an annual production capacity of 98,000 kg of dried cannabis in 2019.
Aleafia operates 22 medical cannabis clinics staffed by physicians and nurse practitioners, with over 50,000 patients. The company is highly differentiated, maintaining the largest medical cannabis dataset in the world with significant intellectual property holdings and current R&D operations.
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FORWARD LOOKING INFORMATION
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the implementation of Aleafia Health's business plan. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the implementation of Aleafia Health's business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, and the volatility of the Company's common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.