Cardiol Therapeutics Announces Completion of Manufacturing Scale-up for Commercialization of CardiolRx(TM)100
Oakville, Ontario--(Newsfile Corp. - October 1, 2019) - Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) ("Cardiol" or the "Company"), a leader in the production of pharmaceutical CBD products and in the development of innovative CBD medicines for heart disease, announces that it has completed the manufacturing scale-up for commercialization of its CardiolRx™100 CBD formulation.
CardiolRx 100 (100 mg/mL CBD with 3,000 mg of CBD per bottle) is designed to be the safest and most consistent high concentration CBD formulation available to Canadians that is THC free (<10ppm). It is pharmaceutically produced in a Health Canada approved, FDA registered, and cGMP facility. Cardiol is also developing additional CBD products for medical use that may be suitable options when a lesser strength CBD is necessary, including formulations that contain 50 mg/mL and 25 mg/mL CBD.
"We are dedicated to producing THC free CBD products for medical use that meet the highest standards for purity, consistency, and manufacturing," said David Elsley, President and CEO of Cardiol Therapeutics. "Completion of the manufacturing scale-up of our CardiolRx 100 product is an important milestone supporting this objective and serves to establish our path to commercial introduction."
Cardiol plans to commercialize CardiolRx 100 in the $1.2 billion-dollar market for medicinal cannabinoids in Canada during Q4 2019 and is pursuing market introduction opportunities in Europe and Latin America. CardiolRx 100 will initially be made available to Canadians for medical use in compliance with the Cannabis Regulations. High concentration CBD has been approved for use in certain types of epilepsy in both the U.S. and Europe and has been prescribed by physicians in Canada for use in conditions such as epilepsy, pain management, anxiety and depression. Chronic pain affects the quality of life of one in five Canadians and is the most common reason individuals seek healthcare. In addition, approximately 3.5 million Canadians annually access healthcare for mood or anxiety disorders, conditions that are generally poorly treated.
Based on the large body of experimental evidence of the powerful anti-inflammatory activity of CBD in models of cardiovascular disease, the Company is also planning an international clinical trial in acute myocarditis (inflammation of the heart muscle) utilizing CardiolRx 100. This study is being designed by renowned cardiologists from Canada, the U.S., and Europe and provides a unique opportunity to build brand awareness in support of the commercial launch of CardiolRx 100.
About Cardiol Therapeutics
Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) is focused on producing pharmaceutical CBD products and developing innovative therapies for heart disease, including acute myocarditis and other causes of heart failure. The Company's lead product, CardiolRx™, is designed to be one of the safest and most consistent CBD formulation on the market. CardiolRx is pharmaceutically produced, cGMP certified, and is THC free. The Company plans to commercialize CardiolRx during Q4 2019 in the billion-dollar market for medicinal cannabinoids in Canada and is also pursuing distribution opportunities in Europe and Latin America.
In heart failure, Cardiol is planning an international clinical study of CardiolRx in acute myocarditis, a condition caused by inflammation in heart tissue, which remains the most common cause of sudden cardiac death in people less than 35 years of age. The Company is also developing proprietary nanotechnology to uniquely deliver pharmaceutical CBD and other anti-inflammatory drugs directly to sites of inflammation in the heart that are associated with heart failure. Heart failure is the leading cause of death and hospitalization in North America with associated healthcare costs in the U.S. alone exceeding $30 billion. For further information about Cardiol Therapeutics, please visit www.cardiolrx.com.
For further information, please contact:
David Elsley, President & CEO
905.491.6793
david.elsley@cardiolrx.com
Trevor Burns, Investor Relations
905.491.6791
trevor.burns@cardiolrx.com
