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Cardiol Therapeutics Comments on the Descheduling of Purisys Cannabinoid Ingredients by U.S. Drug Enforcement Agency
Oakville, Ontario--(Newsfile Corp. - November 25, 2019) - Cardiol Therapeutics Inc. ( TSX: C...
About this update from Cardiol Therapeutics Inc. Class A
[{"type":"text","content":"Cardiol Therapeutics Comments on the Descheduling of Purisys Cannabinoid Ingredients by U.S. Drug Enforcement AgencyOakville, Ontario--(Newsfile Corp. - November 25, 2019) - Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (\"Cardiol\" or the \"Company\"), a leader in the production of pharmaceutical cannabidiol (\"CBD\") products and in the development of innovative cannabidiol medicines for heart disease, commented on Purisys, LLC's news release issued on November 21st which states that the U.S. Drug Enforcement Agency (\"DEA\") has removed their cannabinoid ingredients from Schedule I of the Controlled Substances Act (\"CSA\"). Purisys, LLC (\"Purisys\") is Cardiol's exclusive supplier of ultra-high purity cannabidiol for the Company's CardiolRx™ formulation. Pharmaceutically produced and cGMP certified, CardiolRx is designed to be the safest and most consistent cannabidiol formulation on the market.Headquartered in Athens, Georgia, Purisys is a recent spinoff of Cardiol's cannabidiol supply partner, Noramco, Inc., and was formed to provide pharmaceutical companies with the highest quality active pharmaceutical ingredients (APIs) to support commercialization of cannabinoid formulations around the world. Purisys has been manufacturing ultra-high purity cannabidiol (<0.001% THC) via a patented process since 2016. The cannabinoids produced by Purisys are distinguished by their ultra-low THC concentration, purity, world-scale capacity, exacting quality control, ease of formulation compared to hemp-derived isolates, and strong regulatory support. \"The DEA's descheduling of Purisys' pharmaceutical cannabidiol clearly establishes their acknowledgement of the consistent purity and quality of Purisys' product,\" said David Elsley, President and CEO of Cardiol Therapeutics. \"This landmark decision underscores Cardiol's rationale for selecting Purisys to supply the API for our CardiolRx formulation and supports our unwavering commitment to produce the safest and most consistent cannabidiol formulations for patients who should not be exposed to THC. \"At Purisys, we stand ready to back Cardiol Therapeutics' imminent commercialization of the world's first pharmaceutical cannabidiol formulation (CardiolRx) with our applications support, cGMP manufacturing, world-scale supply capability for commercial production, and analyti...