Medipharm Labs Corp LABS

• MediPharm Labs wholly owned subsidiary Harvest Medicine has published a study in the peer-reviewed American Journal of Endocannabinoid Medicine.
• This is the largest peer reviewed published study of its kind on Fibromyalgia and cannabis, with over 800 patient assessments.
• Between baseline and follow-up appointments, 75% of patients saw a significant decrease in their self-reported illness severity and the study reported reductions in depression and anxiety scores.
• The study data shows that medical cannabis may play an effective role in the management of fibromyalgia and associated symptoms of depression and anxiety.

TORONTO, Aug. 31, 2023 /PRNewswire/ - MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) ("MediPharm", "MediPharm Labs" or the "Company") a pharmaceutical company specialized in precision-based cannabinoids, is pleased to announce that Harvest Medicine's study entitled, "Self-Reported Effects of Illness Severity, Depression and Anxiety in Fibromyalgia Patients: A Large Retrospective Case Series" has been published in the peer-reviewed American Journal of Endocannabinoid Medicine. Harvest Medicine Inc. ("Harvest Medicine" or "HMED") includes a medical clinic network, and is a wholly owned subsidiary of MediPharm Labs.

The retrospective study was led by HMED and reviewed data from 805 patients who indicated fibromyalgia as a primary reason for seeking medical cannabis and had a minimum of one follow-up assessment. The majority of patients (76.1%) reported using CBD oil, which aligns with the current practice guidelines for authorizing medical cannabis as an adjuvant therapy for managing chronic pain.

The primary findings from the present study include  a significant reduction in all three scores measuring depression, anxiety, and illness severity between baseline and first follow-up.

• 75% of patients saw a decrease in their self-reported illness severity, which may include chronic pain, insomnia, and fatigue.
• Anxiety scores were improved in 22% of those patients reporting mild-moderate severity, and in 48% of patients reporting severe anxiety.
• 27% of patients reporting mild-medium depression noted a reduction in symptoms, while 48% of patients reporting severe depression showed a reduction in PHQ-9 score.

The validated study data shows that medical cannabis may play an effective role in the management of fibromyalgia and associated symptoms of depression and anxiety, and that additional, similar studies are recommended. 

"Since 2017, Harvest Medicine's primary objective is to improve the quality of patients' lives by providing access to medical cannabis and offering the highest standard of medical care with a scientifically informed approach" commented Barbara Vermeulen, Director of Harvest Medicine. "We will continue to advocate for patients to maintain access to physician guided consultations and education, with the goal of reducing stigma among health care professionals and advancing patient outcomes".

Details on the study can be viewed on American Journal of Endocannabinoids Website. 

MediPharm remains focused on investing in clinical research and supporting the development of future cannabis derived pharmaceutical drugs. Consistent with this commitment, the Company continues to supply sponsors and investigators with cannabis-derived study drugs, placebos, and other services and assistance as may be required during the course of the studies. 

Summary of MediPharm Labs Clinical Projects

In addition to institutionally led studies, the Company is also providing API and clinical trial material to various pharmaceutical companies for commercial projects involving cannabis-derived drugs. The timelines for both institutional and industry research are long by nature with positive outcomes uncertain. 

Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. MediPharm Labs develops, formulates, processes, packages, and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.

In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a commercial scale domestic Good Manufacturing License for the extraction of multiple natural cannabinoids. The Company carries out its operations in compliance with all applicable laws in the countries in which it operates.

In 2023, MediPharm acquired VIVO Cannabis Inc. which expanded MediPharm's reach to medical patients in Canada via Canna Farms medical ecommerce platform, and in Australia and Germany through Beacon Medical PTY and Beacon Medical GMBH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with physician consultations for medical cannabis education and prescriptions.

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, opportunities for future clinical research projects and the future supply to the global pharmaceutical industry, future marketable pharmaceutical products, and future Canadian and international commercial products that leverage MPL's unique Pharma expertise. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political, and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs' filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

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