VANCOUVER, BC--(Marketwired - December 14, 2016) - Canabo Medical Inc. (TSX VENTURE: CMM) ("Canabo" or the "Company") applauds the Federal Government Task Force Report on Cannabis Legalization and Regulation, and the need to advance research data on cannabinoid treatments.
Dr. Neil Smith, Executive Chairman of Canabo commented on the Task Force findings relating to medical access, "The Task Force Report clearly indicates the need for credible, evidence-based research. Canabo is a global leader in advancing clinical data on cannabis treatments." Dr. Smith went on to say, "Canabo has already compiled a comprehensive clinical data set allowing us to identify effective cannabinoid treatments. Our recently announced study for 2017 further demonstrates our position as the industry leader for medical data within the medical marijuana industry." (See Canabo news release, December 7, 2016.)
Canabo's database of over 10,000 patients will assist in the advancement of research for the benefit of insurers, medical practitioners, clinical researchers and the pharmaceutical industry. Canabo's dataset includes a full medical profile of each patient, cannabinoid consumption, and efficacy following the start of treatment. This data will build a long-term view of how medical marijuana is helping patients over time by condition, medication usage, and on many other fronts.
Dr. Smith points to the Company's analysis of the effects of cannabinoid treatments on opioid use to demonstrate the importance of Canabo's clinical data.
- "A large percentage of our patient database are using opioids, including hydrocodone, oxycodone, and fentanyl for chronic pain conditions. Since Canabo tracks patients' cannabis treatment, changes in pain levels and opioid consumption, we are equipped to respond to a variety of questions with respect to the effects of cannabis on opioid use. Do medical cannabis patients use fewer opioids over time? Do we see improvements in patient pain levels, overall health and quality of life? Is medical cannabis more impactful with certain medical conditions? What cannabis strains and dosage levels have the greatest impact on specific conditions?
- Almost three-quarters of patients had been coping with their medical ailment in excess of three years before coming to Canabo. Our patient data is characterized by long-term, persistently chronic ailments. This suggests that patient improvements following cannabinoid treatments are not just a function of recovery over time, and that our dataset is crucial to understanding the interaction of cannabis with patient health."
Dr. Smith congratulates the Federal Task Force for its insight relating to the requirement for evidence- based research relating to cannabis treatments.
About the Company
Canabo wholly owns and operates Cannabinoid Medical Clinics, or CMClinics, Canada's largest physician led referral-only clinics for medical cannabis. Established in 2014, Canabo has ten clinics located in Toronto, Barrie, Ottawa, Hamilton, Halifax, St. John's, Calgary and Edmonton, with a number of additional clinics planned for opening in 2016 and 2017.
Canabo operates referral-only medical clinics dedicated to evaluating the suitability of prescribing, and monitoring cannabinoid treatments for patients suffering from chronic pain and disabling illnesses. Clinics operated by Canabo are staffed by physicians and qualified health care practitioners specifically trained to assess patient suitability for cannabinoid treatment, recommend treatment regimes, and monitor treatment progress.
Except for historical information, this press release contains forward-looking statements, which reflect Canabo Medical Inc.'s current expectations regarding future events. These forward-looking statements involve known and unknown risks and uncertainties that could cause Canabo's actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, our ability to access capital, the successful and timely completion of opening clinics, regulatory changes, competition, approvals and other business and industry risks.
The forward-looking statements in this press release are also based on a number of assumptions which may prove to be incorrect. Forward-looking statements contained in this press release represent views only as of the date of this release and are presented for the purpose of assisting potential investors in understanding Canabo's business, and may not be appropriate for other purposes. Canabo does not undertake to update forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf, except as required under applicable securities legislation. Investors are cautioned not to rely on these forward-looking statements and are encouraged to consult with a professional investment advisor.