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TruTrace Technologies Inc

TruTrace Technologies successfully completes first phase of StrainSecure pilot with Shoppers Drug Mart

The medical cannabis verification company is teaming up with the pharmacy giant to develop a standardized method of tracing product from genome to distribution

TruTrace Technologies Inc - TruTrace Technologies successfully completes first phase of StrainSecure pilot with Shoppers Drug Mart
StrainSecure’s blockchain-enabled technology collects plant testing data and performs genomic verification

TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF) hit another milestone in its partnership with Shoppers Drug Mart to increase transparency and product identification of medical cannabis.

The Toronto-based company said on Wednesday that it had successfully completed the first phase of the blockchain-secured pilot program and will move forward with the second phase in preparation for full implementation of TruTrace’s StrainSecure platform.

In conjunction with Deloitte Canada, Phase 2 will focus on developing a unified method to medicinal cannabis standards in order to trace product history from genome to distribution.

READ: TruTrace's medical cannabis verification program at Shoppers Drug Mart finds a new member in Flowr

The program is expected to help researchers and clinicians match therapeutic outcomes to specific genetic and chemical profiles, providing physicians, pharmacists, and patients with greater confidence in the products, TruTrace said in a statement.

StrainSecure’s blockchain-enabled technology allows TruTrace to collect plant testing data and perform genomic verification on the plants to be stored and tracked in a database. It serves as the central hub for identity management, asset tracking, validation and product authentication, as well as a master registry for standardized testing, product verification, and quality assurance.

Ken Weisbrod, vice president of business development at Shoppers Drug Mart, said the pharmacy giant is “encouraged” by the response to the pilot program.

“There is a clear consensus within the cannabis industry that the source and quality of medical cannabis must be transparent and identifiable in order to meet the expectations of patients and health care practitioners," Weisbrod said in a statement.

"It is more important than ever to be able to assure all stakeholders, from regulators to health care practitioners, that the medical cannabis industry is taking the necessary steps to establish the infrastructure required to deliver standardized, consistent medication to our patients,” he added.

In the release, Deloitte Canada partner David Steward said that the cannabis industry needs to increase transparency to stakeholders by implementing rigorous procedures to maintain supply chain integrity.

“Strengthening traceability and verification of cannabis products will bring benefits to the industry as a whole, and most importantly, build confidence and accountability into the cannabis medical value chain.”

The pilot program was first announced in June 2019 and is expected to be fully implemented by November 2019.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: $0.24

Market: CSE
Market Cap: $19.25 m
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Full interview: TruTrace Technologies and Shopper Drug Mart finish phase 1...

TrueTrace Technologies (CSE: TTT; OTCQB: TTTSF) President and CEO Robert Galarza joined Steve Darling on Skype from Seattle with news the company, along with their partner, Shopper Drug Mart completed phase 1 of their Pilot Program designed to increase transparency and product identification...

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