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TORONTO, Jan. 2, 2019 /CNW/ – HydRx Farms Ltd. (o/a Scientus Pharma) (“Scientus” or the “Company”), a biopharmaceutical company conducting research and product development for extracts and formulations related to medical cannabinoids and their derivatives, is pleased to announce that it 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.”