Healthcare & Pharmaceutical Awards 2021

96 GHP / Healthcare and Pharmaceutical Awards 2021 , An award-winning Life Science and Pharmaceutical company based in Ontario, Canada, CanaQuest Medical Corp. has successfully developed two commercial-readyMaster Formulations designed to treat amyriad of mental health conditions. Dedicated to creating safer andmore effective medical cannabis products, CanaQuest has recently been recognised once again for its market-leading innovations in the field of medical sciences. Best Health Products & Pharmaceuticals Provider - Canada Founded with a vision to be a global leader in the formulation and development of health products from cannabinoids and botanical derivatives, CanaQuest Medical Corp. is a leading Life Science and Pharmaceutical company of Mississauga, Ontario. The award-winning company works in partnership with Dr. Steven Laviolette and his team of 13 at Western University to develop medical formulations to treat neurological conditions and mental health ailments. In 2019, the global CBD oil and CBD consumer health market size was valued at USD 20.5 billion and is expected to grow at a compound annual growth rate (CAGR) of 25.6% between 2020 and 2027, while the global cannabis market was valued at an estimated USD 20.5 billion in 2020 and was projected to reach USD 90.4 billion by 2026. Meanwhile, the North America hemp-derived cannabidiol market size was valued at USD 1.7 billion in 2019 and was projected to expand at a CAGR of 27.7% in the period between 2020 and 2027. In short, the CBD and cannabis markets both globally and in the US are here to stay and growing fast – and with the many consumers paying greater attention to the health and wellness sectors in the midst of the global pandemic, the medicinal capabilities of products within this sector are under greater scrutiny than ever. However, the acceleration of development within this arena has meant that the markets have become inundated with companies, practices and products that are below standard. Consequently, CanaQuest’s ongoing focus is on clearing the stigmas long associated with the science of ‘medical’ cannabis products. Often, physicians will prescribe incorrect dosages of CBD, which has been proven to be ineffective for the treatment of mental health conditions in its pure form. Pure CBD does not attach to the PPAR (Peroxisome Proliferator Activated Receptors), meaning it has minimal interaction with the central nervous system (CNS). As such, while it can address inflammation, pure CBD has nominal effects on neurological conditions, and has to be administered in high doses to achieve minimal efficacy. Fortunately, the work pioneered by CanaQuest, with the support of Dr. Laviolette and the pre-clinical trials he and his team have developed, has proffered an ideal solution in two commercial-ready Master Formulations. Mentanine® and Mentabinol® are both designed to treat multiple mental health ailments and are lauded by the company as being the best in the world for this purpose – a claim that it is certain will be substantiated by testimonials and human trial results. Mentanine® comprises CBD isolate and Omega-3 compounds which have ten times greater efficacy than pure CBD in the treatment of anxiety, depression and PTSD. Evidence also demonstrated significant reductions of inflammation, which could be beneficial for pain management. Mentanine® requires lower doses of CBD to achieve the same efficacy compared to higher doses, minimizing negative side-effects of high CBD consumption. The main differentiator, however, is that Mentanine® works synergistically, attaches to the PPAR, crosses the blood brain barrier (BBB) and interacts with the CNS. CBD by itself does not. Mentabinol® is a unique, safer alternative for customers that consume THC for any ailment or for recreational purposes, making it a potential replacement for opioids. Made up of THC isolate/L-Theanine formula, Mentabinol® could protect THC users from negative psychiatric side effects. Preclinical trials have demonstrated reversal of depression-like and schizophrenia-related symptoms, blockage of memory impairment, hyperactive activity and gene vulnerability. So far, CanaQuest has identified the Rx regulatory pathways to obtain Pharmaceutical Drug Approvals in Canada and the USA for rare neurological conditions under the umbrella of epilepsy. The preclinical trials run by Dr. Laviolette have already highlighted the advantages of CanaQuest’s products over pharmaceutical grade CBD, leading the way for human trials within select universities and institutions to be set into motion. As such, the months ahead will see exciting developments for CanaQuest, not least owing to the commencement of human trials to develop its pharmaceutical Rx drugs to enable it to make health claims. Once CanaQuest has obtained its regulatory approvals, these pharmaceutical drugs will be produced and distributed in collaborations with the firm’s international and domestic partners. Meanwhile, its non-Rx products, namely Mentanine® and Mentabinol®, will be sold in the months ahead to patients through CanaQuest’s wholly owned subsidiary, ADC BioMedical Corp., which was awarded a Cannabis Medical Sales Import/Export License from Health Canada under the Cannabis Act. Thus, with key successes like CanaQuest’s recognition as Best Health Products & Pharmaceuticals Provider – Canada at the GHP Healthcare and Pharmaceuticals Awards 2021 already under its belt, and further successes undoubtedly ahead, it is clear that CanaQuest is one to watch in an industry that is well and truly booming. Company: CanaQuest Medical Corp Contact: Paul Ramsay Email: [email protected] Website: Sep21521 CanaQuest Medical Corp