TORONTO, ON – December 3, 2019 – CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), a leading data-driven company focused on bringing real-world evidence-driven from the point-of-care to the medical cannabis community, today announced that it is partnering with Licensed Producer FCM Global (“FCM”), the first Colombian cannabis company to be fully licensed in research, cultivation, extraction, distribution and export. The partnership will work to create market access and the design of clinical trials to support the deployment of future FCM cannabinoid-based products. FCM owns and operates a 235,800 sq. ft. production facility in La Ceja, Antioquia, as well as an expanded cultivation and biomass production facility of 474 hectares in Tolima. The two companies will look to build a foundation for future clinical trials and product innovation in Colombia.
CB2 is one of the only purpose-built technology and CRO services for the maturing global medical cannabis market. The Company will look to blend its clinical operations with technology, analytics clinical research expertise to support FCM with market access, data collection and analysis, and drug discovery. Having three autonomous verticals allow us to put together a comprehensive suite of services and solutions to meet the need of a wide variety of stakeholders.
“Research remains the primary gap between new government regulations and patient access – with physicians creating a major barrier due to a lack of understanding of how to prescribe and integrate cannabinoid therapy into traditional treatment programs,” said Prad Sekar, CEO, CB2 Insights. “In partnership with FCM, we will look to collect real-word evidence data to allow physicians to be come more confident, the industry can be more informed and ultimately creating access for patients incorporating cannabinoid-based therapies into their traditional healthcare. FCM continues to show their leadership by recognizing that traditional healthcare protocols are the key to unlocking the potential of medical cannabis regardless of the jurisdiction. We look forward to laying a framework that places an importance in clinical trials for new products going forward.”
Despite having over US$400 million total investments from licensed producers into the Colombian medical cannabis market since regulations were enacted in 2016, medical cannabis is still not legally available for domestic patients to use. And while the country’s geography, climate, low labour costs and positive patient attitude make it an ideal market for that investment, it is not until comprehensive, clinical research occurs that the market will begin to grow.
Led by CB2 Insights’ Medical Director – Colombia, Dr. Paola Cubillos, both companies are working to increase physician education with respect to how best to incorporate cannabinoid-based medicine into their patients’ treatment plans. In tandem, both companies will also develop multi-phase clinical trials that will provide product-specific and condition-specific safety and efficacy data. The outcome will help with FMC’s drug development process as well as improve physician attitude about cannabinoid therapy.
“We are proud of the foundation that we have built in Colombia and we are ideally suited to bring about traditional pharmaceutical protocols into our business with the help of a well established contract research organization,” said Filipe Velasquez, CEO & Co-Founder, FCM Global. “CB2 Insights’ is that ideal partner as they have outstanding international experience but also have localized support to ensure we put these plans into motion efficiently and effectively.”