NEW YORK--(BUSINESS WIRE)--Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) announced today the launch of its proprietary solid-fill cannabis powder capsule for medicinal use throughout the United Kingdom. This is the first solid-fill capsule of its kind available in the UK and the first dose-metered medicinal cannabis product to be manufactured in the UK. The capsules are part of Columbia Care’s trademarked Ceed medicinal product range.
The patent-pending, proprietary capsules were first developed and successfully commercialized in the United States by Columbia Care. They incorporate a portfolio of primary and secondary cannabinoids and are available in a number of formulations with various THC and CBD doses. These dosing options enable prescribing physicians to offer proven, cannabis-based medical solutions with a degree of precision previously unavailable in the UK market. When compared with other cannabinoid-based medicinal product (CBMP) formulations, this form factor has longer-lasting effects, with demonstrated success throughout the United States, by offering patients relief that lasts all night, or throughout their day. Data from Columbia Care’s proprietary IMPACT REGISTRYTM database demonstrates that this formulation is preferred by certain demographics, such as patients over 65, increasing the potential addressable market due to the familiar and trusted medical form.
“This achievement is a testament to our team and partners who worked diligently to bring a product to market that fulfills a significant unmet patient and physician need in the UK. To be the first in any market is a reflection of our prudent capital allocation process and the culture of collaboration that permeates all aspects of our business. It also highlights the commitment to our medical heritage, research and development, and leading the industry on a global basis through innovation. We are thrilled to be among the market leaders responsible for driving the cannabis industry forward in the UK,” said Nicholas Vita, CEO, Columbia Care.
As the UK’s medical cannabis market continues to grow, this formulation has been introduced in response to physician and patient demand for more precise dosing options as well as more familiar form factors in CBMPs. Prior to the launch of Columbia Care’s solid-fill cannabis powder capsules, UK patients’ and physicians’ formulation options for CBMPs had been limited to cannabis flower and sublingual tinctures made with cannabis extracts. This capsule provides more ease-of-use for those with limited dexterity, and due to its bioavailability profile, has longer lasting effects - meaning patients can save money, benefit from less frequent dosing, and incorporate this efficacious treatment into their daily routine as they would any other medicine.
“Our solid-fill capsule provides numerous advantages for the patient. We believe this has the potential to truly drive normalization around cannabis use for physicians and patients alike,” said Rosemary Mazanet, M.D./Ph.D., Chief Scientific Officer, Columbia Care. “As we’ve seen with other medical cannabis programs around the world, doseable formulations, de-stigmatization and improved understanding of therapeutic cannabinoid use across healthcare professionals, patients and their families underpin market development. Familiarity with the product formulation itself drives adoption. Not only are most patients familiar with a capsule, but many will also see other benefits of this formulation. We are thrilled to see this product come to fruition in the UK and we are grateful to our partners helping us achieve this goal. This is the first milestone for us in our pipeline of innovative formulations we aim to bring to the UK and EU markets.”
Columbia Care’s partners in the UK are IPS Pharma, a leading pharmaceutical manufacturer licensed by the UK’s Medicines and Healthcare products Regulatory Agency (MHRA), who manufacture Columbia Care’s proprietary product formulations under the highest standards, and Grow Pharma, Columbia Care’s market access partner. Any interested parties can obtain further details from IPS Pharma and Grow Pharma. For more information on the UK medical cannabis program, visit The Centre for Medicinal Cannabis at https://thecmcuk.org/.
About Columbia Care
Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of medical and adult use cannabis products and related services with licenses in 18 U.S. jurisdictions and the EU. Columbia Care operates 114 facilitiesi including 87 dispensaries and 27 cultivation and manufacturing facilities. Columbia Care is one of the original providers of medical cannabis in the United States, and continues to deliver an industry-leading, patient-centered medicinal cannabis operation that has quickly expanded into the adult use market as a premier operator. The company currently offers products spanning flower, edibles, oils, capsules and tablets, and manufactures popular brands including Seed & Stain, Amber and Platinum Label CBD. With more than four million sales transactions since its inception in 2012, Columbia Care is known for setting the standard for compassion, professionalism, quality, care, and innovation in the rapidly expanding cannabis industry. For more information on Columbia Care, please visit www.col-care.com.
Caution Concerning Forward-Looking Statements
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. The Company has made assumptions with regard to its ability to execute on brand and product initiatives, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. Securityholders should review the risk factors discussed under "Risk Factors" in Columbia Care’s Annual Information Form dated March 31, 2021, filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and described from time to time in documents filed by the Company with Canadian securities regulatory authorities.
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i Pro forma facilities either open or under development