Resolve Digital Health taps former Purdue research head to investigate pain management alternatives in the US$42 billion Global Opioid Market
TORONTO – November 29, 2017 – Resolve Digital Health Inc. (“Resolve”), a Canadian developer of intelligent medical cannabis delivery devices, has begun protocol design for a series of studies examining the safety and efficacy profiles of Resolve medical cannabis formulations compared to commonly-prescribed oxycodone-based prescription drugs such as OxyContin®/OxyNEO® and Percocet®.
Resolve is designing 12 pain management studies that examine the effectiveness of several opioid products versus Resolve’s Breeze Smart InhalersTM formulations and ecosystem. Breeze products gather real-time dosing data from patients, including medical conditions, prescriptions, family history and lifestyle, in addition to location-based information.
The company’s research program will also explore two additional areas:
- Effectiveness of the Breeze Smart InhalersTM, and the role of medical cannabis, as a first-line and switch therapy in the prevention and management of opioid addiction.
- Examining the safety and efficacy profile of medical cannabis in the management of chronic pain, and as an alternative or adjuvant treatment to opioid-based medications.
To lead these studies, Resolve has appointed Joseph Reiz as its Director of Clinical Research. Reiz will spearhead Resolve’s new research program, set for launch in early 2018, supporting the company’s efforts to become a global leader in the medical cannabis space.
Reiz was formerly Director, Clinical Research at Purdue Pharma Canada, and brings 28 years of clinical research management experience to the position. He has a proven track record of overseeing the successful conception, planning and running of large clinical trial programs in the United States and Canada for product approval.
Rob Adelson, CEO of Resolve said: “We are delighted to welcome Joe to the Resolve team. His extensive experience in pharmaceutical clinical research and medical marketing will allow us to further our evidence-based approach to showcasing the huge potential of medical cannabis in tackling some of the most pressing issues faced by healthcare systems in North America today, including the current opioid crisis.”
Mr. Reiz added, “I’m very excited to join Resolve at a time when the company anticipates major growth. Through a robust program of research, I look forward to advancing understanding of medical cannabis’ therapeutic value among patients and healthcare practitioners, and helping to pave the way for medical cannabis to reduce the burden on clinicians and healthcare systems across the continent.”
Proposing a viable solution to North America’s opioid crisis
One in five Canadians[i], and one in three Americans [ii] experience chronic pain. In the United States, over 100 million prescriptions are filled to treat the symptoms of chronic pain each year, while in Canada; prescriptions for painkillers continue to increase despite an ongoing epidemic of opioid abuse and overdoses. Resolve is seizing this opportunity to lead, proposing viable solutions to the opioid crisis. Through its research, Resolve intends to establish a strong clinical pathway towards reducing the public health impacts of over- reliance on opioids in the treatment of chronic pain.
Vic Neufeld, CEO of Aphria Inc., one of Canada’s largest licensed producers of medical cannabis, and Chair of the Board for Liberty Health Sciences Inc., comments: “As a key partner of Resolve, we are most supportive of their commitment to addressing the opioid epidemic through clinical research studies. At Aphria, we’ll be using their real-world evidence to work towards creating best-in-class products that provide a safe and viable alternative or accessory treatment to opioid-based medications.”
According to Persistence Market Research, the global opioids market was valued at an estimated US$34.8 billion in 2015, and is anticipated to generate US$42.2 billion in revenue by 2021, registering a compound annual growth rate (CAGR) of 3.2 percent during the forecast period [iii]. Adelson said: “In the context of a multi-billion dollar, highly profitable opioid industry, there is a significant opportunity to support patients with safer and more affordable solutions”.
Recent partnerships with Aphria Inc. and Liberty Health Sciences Inc. in Florida
Resolve also recently entered into two major letters of intent, the first with Aphria Inc., under which Aphria has agreed to provide cannabis products to fill Resolve’s proprietary delivery pods and cartridges for sale to the Canadian medical cannabis market. The second, with Liberty Health Sciences Inc., establishes Liberty’s exclusive distribution rights to Resolve products within the state of Florida.
About Resolve Digital Health
Resolve Digital Health is positioned to be the leading provider of a metered dosing ecosystem for medical cannabis devices. The company’s proprietary technology, apps and cloud-based health information platform, found in Resolve’s debut product, Breeze, address the numerous issues with currently available methods of cannabis delivery – establishing a standard of care and rigorous medical approach for the medical cannabis industry. With over three years of research and development, the complete product ecosystem is expected to be initially available in select dispensaries in early 2018. For more information, visit: www.mybreeze.co or www.resolvedigitalhealth.com.
For more information:
Resolve Digital Health
1-888-329-6560 x. 224
Weber Shandwick Canada
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain information in this news release constitutes “forward-looking information” and “forward-looking statements” under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “projections”, “expect”, “believe”, “plan”, “intend”, “estimated” or the negative of these terms and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Resolve, Aphria, Liberty or the collaboration between Resolve, Aphria and Liberty to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such forward-looking information includes, but is not limited to, statements with respect to the anticipated benefits and timing of the collaboration between Resolve, Aphria and Liberty, the entering into of a definitive agreement between Resolve and Aphria and Resolve and Liberty, the receipt of third-party, regulatory approvals, the timeline for the availability of Resolve’s product lines, the timeline for implementation of the research program and the results and processes of the research program, and projected size of the opioid industry. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in the United States generally; income tax and regulatory matters; the ability of any party to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking information included in this news release are made as of the date of this news release and Resolve or Aphria or Liberty does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
[i] Schopflocher D, Taenzer P, Jovey R. The prevalence of chronic pain in Canada. Pain Res Manag 2011;16:445–50. Accessed November 10, 2017, available at: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3298051/pdf/prm16445.pdf
[ii] Institute of Medicine (US) Committee on Advancing Pain Research, Care, and Education. Relieving Pain in America: A Blueprint for Transforming Prevention, Care, Education, and Research. Washington (DC): National Academies Press (US); 2011. Accessed November 10, 2017, available at: https://www.ncbi.nlm.nih.gov/books/NBK91497/
[iii] Canadian Institute for Health Information, 2017. Pan-Canadian Trends in the Prescribing of Opioids, 2012 to 2016. Accessed November 10, 2017, available at: https://www.cihi.ca/sites/default/files/document/pan-canadian-trends-opioid-prescribing-2017-en-web.pdf