Veritas Pharma (CSE:VRT) has announced that its research arm, Cannevert Therapeutics, will soon enter the security inspection stage of its Health CAnada Dealer’s license application to produce and cultivate cannabis for scientific purposes.
As quoted in the press release:
Cannevert originally submitted its application on August 23, 2016 to Health Canada’s Office of Controlled Substances; this was processed as a continuation of our previous application by the group’s chemistry team. Cannevert currently holds a Health Canada scientific exemption which allows it to order a set total amount of cannabis using one Canadian licensed producer at a time. The new application will enable the team to produce “whole-plant” extracts, source from multiple licensed producers, and export cannabis materials for research purposes such as clinical trials being conducted overseas. Cannevert also indicated on its application that it would like to be on a public list of licensed laboratories able to conduct such activities with cannabis under the Narcotic Control Regulations; this list can be found at https://www.canada.ca/en/health-canada/services/list-licensed-dealers.html
This Dealer’s License will include analytical testing for persons who fall under the following Section 56 exemption, which is for registered persons and individuals responsible for them or authorized persons to provide, deliver, transport or send fresh and dried marijuana and cannabis oil to Licensed Dealers for analytical testing. Cannevert also indicated that it would like to perform analytical testing of cannabis samples received from holders of a valid license issued under the Industrial Hemp Regulations.
Cannevert has been notified that the company will be undergoing a security inspection soon. Veritas CEO, Lui Franciosi stated, “We are pleased with the status of Cannevert’s Dealer’s License Application. Reaching the security inspection stage means that the company is getting closer to being one of the few labs in Canada allowed to perform analytical testing and biological screening of cannabis and hemp for licensed producers. The License also complements Cannevert’s research, by removing existing barriers of supply, thereby enabling to progress in faster, more efficient and more comprehensive manner.