XPhyto Therapeutics Corp (CSE:XPHY) announced that its pharmaceutical grade extraction and processing lab at the University of Alberta is ready for commissioning.
The company’s CO2 extraction equipment will operate in an ISO-certified clean room designed for pharmaceutical manufacturing. The lab is supervised by Raimar Loebenberg, founder and director of the Drug Development and Innovation Centre at the University of Alberta, and director of XPhyto.
"This is a major step forward for XPhyto in the development of novel pharmaceutical-grade cannabis formulations," Loebenberg said in a statement. "Our team has already identified a number of potential opportunities that merit development and clinical study. The ability to control the cannabis extraction, isolation and formulation process in an ISO certified cleanroom is quite remarkable."
The Vancouver-based company said its cannabis research will focus on treatments for inflammatory dermatology indications, oral and ingestible treatments for pain management and sleep disorders and solubility solutions for both decarboxylated and acid forms of cannabinoids.
The lab’s work will run parallel to its German outfit, operating through its subsidiary Vektor Pharma TF GmbH, which is currently focused on oral and transdermal thin film drug delivery methods and innovative cannabis-based products.
"We believe the next wave of cannabis investment opportunities will be focused on formulation, drug delivery, precision dosing, clinical validation, and European and emerging markets,” XPhyto CEO Hugh Rogers said. “With XPhyto's pharma-grade extraction lab coming online in Canada and our cannabis import licences and EU GMP lab in Germany, we are very well positioned to take advantage of emerging trends in the rapidly evolving cannabis industry."
The company said it has engaged in discussions with multiple potential third-party collaborators seeking cannabis related contract research and development services.
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