CanaQuest Aiming for Global Medical Cannabis Market

Company Files International Patent for Mentabinol – LPC

CanaQuest Medical Corp. announced expansion plans into the global medical cannabis market. Chairman and co-founder Paul Ramsay said it now has Health Canada sales, export, and import licences lined up. Its medical sales licence is through its subsidiary company, ADC BioMedical Corp .

“We can expand globally very easily by choosing the right partners,” Ramsay said. “We’re aligned and we’re all very passionate about making an impact on peoples’ lives.”

There is no word on who those partners may be. But many Canadian LPs have expansion plans for the global medical cannabis market, especially to European countries . Companies such as Aurora Cannabis , Cronos Group , and Tilray all have operations there. Canopy Growth recently announced that its subsidiary, Spectrum Therapeutics , had won the first UK import licence to sell medical cannabis.

It seems likely that CanaQuest will partner with a local company in the country or countries it targets. Aphria did the same when it bought the German pharmaceutical company CC Pharma earlier this year.

New Formulation Key to Global Medical Cannabis Market Expansion – LPC

CanaQuest sees its new formulation, Mentabinol, as the key. Canaquest said the cannabis formulation gives the medical user all the benefits of THC without the high. Many medical patients, it said, do not enjoy its psychoactive effects.

Mentabinol can also “offer a solution” to four other specific side-effects, the company said: depression-like symptoms, memory impairments, hyperactive activity, and gene vulnerability.

The company developed Mentabinol with the help of Western University. It will be sold in Canada and on the global medical cannabis market through ADC BioMedical, which received its Health Canada medical sales licence in August . CanaQuest filed an international patent for Mentabinol in November 2019.

“We’re looking at a game-changing discovery with Mentabinol,” Ramsay said. “In essence, what we’re offering is a safer alternative for users of cannabis.”

The “safer” alternative will likely appeal to the global medical cannabis market, and European countries in particular.

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