Home Stock Flora Growth sets up a new division to develop data-backed pharmaceutical cannabis products

Flora Growth sets up a new division to develop data-backed pharmaceutical cannabis products

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Flora Growth Corp (NASDAQ: FLGC) set up a new division it’s calling Flora Pharma to begin scientific clinical trials globally, the Canadian cannabis company revealed in a press release on Wednesday.

Our team is incredibly excited to announce our entry into cannabinoid science which will help us achieve our goal of developing pharmaceutical cannabis products while working to advance global cannabinoid research and become a thought leader in the space.

Dr Annabelle Manalo-Morgan to lead molecular and pharmacokinetic studies

Flora Pharma aims at studying the medical benefits of cannabinoids in patients with chronic pain or Fibromyalgia. The new division will run phase trials in parallel at its research sites in the U.S. and U.K. to shrink the traditional FDA and NHS timelines.

In the United Kingdom, Flora Pharma will collaborate with the University of Manchester to begin the Human Pilot Study. Meanwhile, its lead scientific advisor, Dr Annabelle Manalo-Morgan and her team will conduct molecular and pharmacokinetic studies in the United Studies.

Further details will be disclosed upon approval from the ethics committee.

Flora Pharma to create long-term value for patients and shareholders

Flora Pharma wants to fill scientific gaps with research to introduce data-backed pharmaceutical cannabis products with better efficacy and safety profile than the traditional treatments. The endeavour, as per Dr Manalo-Morgan, will create long-term value for patients and shareholders.

This may seem like an ambitious and costly endeavour, but we’ll leverage our seed-to-sale platform to supply products for research and commercialization at competitive price points, while partnering with established organizations and institutions where additional funding subsidies are available.

The announcement comes a month after Flora Growth stuck a deal with TruTrace Technologies to increase its sales opportunities.  

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