HydRx Farms Ltd a biopharmaceutical company conducting research and product development for extracts and formulations related to medical cannabinoids and their derivatives, has received authorization under the Cannabis Regulations granting sale of cannabis for medical purposes and modifying the conditions of its processor licence to authorize sale of dried and fresh cannabis products.
These licences are effective as of December 21, 2018 and valid until September 22, 2020.
The Company previously obtained its Health Canada authorization to produce cannabis softgel capsules and oils and is currently finalizing launch preparations and building inventory in anticipation of product commercialization early this year. To date, existing extraction methods in the industry do not adequately activate the medicinal component of the cannabis plant, such as THC and CBD, nor do they compensate for large batch-to-batch variability inherent in natural plant materials. Scientus has solved these challenges on both fronts.
“Our strategy is to commercialize products with standardized, predictable and effective medicine,” said Har Grover, Chairman and CEO of Scientus. “Our sales license for dried cannabis is a stepping stone to ultimately advancing our capabilities for non-smokable products including softgel capsules and oils. We have developed a proprietary continuous flow extraction platform to produce consistent batch profiles of oils and softgel capsules with 100% decarboxylation.”
Scientus Pharma Inc. is a vertically-integrated biopharmaceutical Licensed Producer and Licensed Dealer under the Narcotics Control Regulations of Canada who conducts scientific research on cannabinoids with a focus on developing and commercializing pharmaceutical-grade cannabinoid derivative products.
Being one of a limited number of Licensed Dealers in Canada authorized to handle and conduct cannabinoid products, Scientus Pharma has the ability to wholesale, buy, process and sell cannabinoid derivatives, from and to other Licensed Producers, as well as international markets. Scientus is also a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR).