The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) has said it is participating in a new study on medical cannabis led by the University Health Network and Canadian pharmacy chain Shoppers Drug Mart’s medical cannabis division.
The first of its kind, the real-world evidence study will look at the therapeutic effects of medical cannabis in adults with chronic pain, sleep problems and anxiety issues, and will use TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF) blockchain secure technology of the Medical Cannabis by Shoppers online product portal that tests and verifies cannabis products.
Kelowna, BC-based Valens is contributing its Nüance brand of premium cannabis oil to the study, it said in a release.
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During the study, Nüance will be tested and verified results on each batch will be available through the Medical Cannabis by Shoppers portal for physicians and patients, who can also identify the contents of their product through the portal.
By identifying the potency levels of THC and CBD, patients can confidently rely on data to ensure consistency throughout batches, Valens noted.
The aim of the study, which is designed by Dr Hance Clarke of Toronto’s University Health Network, is to give physicians, pharmacists and patients more confidence in medicinal cannabis products to treat ailments such as pain, according to Valens.
"Nūance oils are developed exclusively for Shoppers Drug Mart with medical cannabis patients at the core,” Valens CEO Tyler Robson said in the statement.
“To be able to participate in this real-world study and have the opportunity to understand how our products could be used as a treatment is an exciting step in the right direction for us.”
Robson pointed out the firm is looking forward to using insights and data from the study to further advance its commitment to developing and testing the highest-quality and most reliable products for patients using cannabis for both medical purposes as well as recreational consumers.
"Medical Cannabis by Shoppers is best placed to offer Canadians the reassurance of medical products that have been tested and validated," said Ken Weisbrod, vice president business development and cannabis strategy at Shoppers Drug Mart.
"Our development of a blockchain secured initiative with TruTrace has now been integrated into an operational portal that will provide products with an immutable digital identity that can capture everything from detailed chemistry down to its DNA," he added.
The 24-week study will follow around 2,000 participants across Canada.
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