LONDON--(BUSINESS WIRE)--Kanabo, the first medicinal cannabis company to IPO on London Stock Exchange, will be delivering its medicinal cannabis formula to the UK this month, as scheduled. The deal with LYPHE Group means that thousands of patients will be the first in Europe to have access to pain relief delivered in a metered dose via Kanabo’s VapePod.
The VapePod, a medical-grade handheld vaporiser, allows physicians to now confidently prescribe accurate and precise micro doses of cannabis; with each inhalation 1mg of formula is dispensed. Inhalation of cannabis extracts allows for a faster onset and higher bioavailability than tinctures and oils, and now that doctors can monitor a patient's metered-dosage, more accurate patient data.
In a letter from the Department of Health, giving support and guidance to clinicians about cannabis based products for medicinal use, it states that “the health harms of smoking are clear and patients should be informed of the health risks associated with such use.” Until now, UK patients were only able to have access to medical cannabis dry flower and oil tinctures; even though they are advised against it, the majority of patients choose to smoke medicinal cannabis flowers due to the fast onset via inhalation. Kanabo’s medical line aims to enable patients to move away from the harmful habit of smoking medical cannabis flowers. Patients can now take their medicine without inhaling soot, tar and carcinogens into the lungs.
The medical extract formula boasts a purity of 70% THC with 15% minor cannabinoids and terpenes, and is based on the Israeli medical cannabis pharmacopoeia as a recommendation for the treatment of pain management.
Following the announcement of Kanabo Group Plc’s agreement with PharmaCann Polska in March, the production of the UK’s first medical grade unlicenced cannabis extract formulas for inhalation are scheduled for delivery within a matter of days.
Under the agreement, PharmaCann and Kanabo established a customized production line for Kanabo’s VapePods cartridges. Patients of LYPHE Group’s UK ecosystem which includes The Medical Cannabis Clinic and Dispensary Green, will, for the first time, be able to access Kanabo’s VapePods under the brand name NOIDECS. This production fulfills Kanabo's key milestone of the Sale of the Company’s Medical Cannabis Products in a primary market as laid out in the prospectus as scheduled, and is an example of Kanabo’s fully operational supply, production and distribution.
Dean Friday, LYPHE’s CEO commented: “Kanabo are experts in novel delivery with their VapePod greatly improving onset times, and for our chronic pain patients we now have an alternative to flower vaporisation. This is the start of a revolution in medical cannabis application and we are delighted to be supplying it under the NOIDECS* brand.”
Avihu Tamir, Kanabo's CEO commented: “The VapePod is a world first allowing specialist consultants to prescribe a metered dose of medicinal cannabis that is healthier for patients than the alternative which is typically smoking. Medical cannabis is a safer alternative to the conventional opiate solutions and other pain management treatments. This announcement ensures that 1000s of UK patients have access to the most effective medicinal cannabis delivery system.”
About LYPHE GROUP
LYPHE Group, delivers a patient-focused medical cannabis ecosystem, and has emerged as the UK’s market leader in patient care – seeing over 60% of the medical cannabis patients in the country. LYPHE delivers a reliable and seamless supply of medical cannabis care and medicine. It has built a patient-access ecosystem across the UK that provides clinics, pharmacy & dispensing, import infrastructure and vital educational services to patients, doctors and other health care professionals.
About KANABO GROUP PLC
Kanabo is creating a new standard in the medical cannabis industry by building an ecosystem that improves the well-being of millions around the world by providing an alternative solution to the smoking of medicinal cannabis flowers. With a focus on the distribution of cannabis-derived products for medical patients, and non-THC products for CBD consumers, Kanabo has conducted extensive Research & Development in order to produce high-quality cannabis extract formulas, innovative medical-grade vaporizers, and various non-smoking consumption solutions.
Note to editor:
* a brand of high potency medicinal THC products