- Dharma will license the Company’s proprietary technology platform “Sail” to use at the point of care within Dharma dispensaries and its network of support centers in Virginia.
- Sail will be used to monitor, track and generate insights on patient health outcomes on Dharma’s product portfolio.
- Dharma will use the anonymized data to support post-commercialization efforts in demonstrating safety and efficacy of its products, and in new product development.
TORONTO, ON – August 5, 2020 – CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), has been selected by Dharma Pharmaceuticals (“Dharma”), as a preferred partner and platform to establish and generate real-world evidence (RWE) on a full suite of Dharma products in Virginia. The announcement comes ahead of Dharma’s commencement of sales of high-quality medical cannabis oils to patients in the near future. Dharma’s mission is to bring targeted medical cannabis products to Virginia’s patients.
Dharma will utilize Sail to standardize and complement other sources of information used in its intake and patient monitoring program. As one of 5 license holders in Virginia, Dharma Pharmaceuticals is a locally-owned company based in Bristol, Virginia and is committed to bringing high-quality medical cannabis oil products to Virginia’s patients.
Sail is currently being used in CB2’s wholly owned clinical operations in the US, as an electronic health record (“EHR”) platform. Unlike many traditional EHR systems, Sail was designed to not only digitize the clinical experience, but with a focus on health outcome reporting. As Sail continues to partner with global organizations to advance RWE efforts, its analytics and technology platform will further enhance Dharma’s research and development efforts and study of global anonymized data sets.
“We are excited to have been selected by Dharma to support their mission for delivering targeted medical cannabis products to Virginia’s patients in need. We are excited to work with research driven organizations like Dharma, who believe in a patient centered approach to healthcare, and investing in the knowledge on what products can lead to the best outcomes for patients.” said Kash Qureshi, President and CTO, CB2 Insights.
“Dharma has long believed in a data driven approach to product development and understanding long term effects of our products on patient health outcomes. CB2’s platform Sail, will enable us to utilize an out-of-the box technology platform, that has been proven to support efforts in monitoring, assessing and tracking patient health outcomes. Through this partnership, we look to develop new standards in medical cannabis products, and more broadly how RWE can better inform decision makers on the benefits of cannabis treatments on major issues like opioid reduction.” said Jack Page, Founder and COO, Dharma Pharmaceuticals.
As the Company enters this critical phase of rapid sales ramp-up and focuses on maximizing the sales impact of its cash resources, executives Pradyum Sekar and Kashaf Qureshi have agreed to a temporary 30% reduction in cash salary and compensation. The Company will issue 954,564 shares collectively to these executives as payment in lieu of cash. Neither executive has sold any of their shares to-date and remain committed to the long-term growth of the Company. Further, a total of 605,928 options have been cancelled as part of the restructuring of the employee options plan.