Pilot Program designed to increase transparency, interoperability and product identification within the medical cannabis industry
Aphria Inc. (TSX: APHA) and (NYSE: APHA) and TruTrace Technologies Inc. (CSE: TTT) (OTCQB: TTTSF) today announced that Aphria has joined Phase 2 of the Shoppers Drug Mart (“Shoppers”) medical cannabis verification pilot program (the “Pilot Program”). The blockchain-secured Pilot Program is specifically designed to increase transparency, interoperability and product identification within the medical cannabis industry.
The Pilot Program uses TruTrace’s StrainSecure™ technology as a central hub for identity management, asset tracking, validation, and product authentication. StrainSecure also serves as a master registry for standardized testing, product verification, and quality assurance.
First announced by Shoppers in June at the second annual World Cannabis Congress in Saint John, New Brunswick, the Pilot Program is expected to help researchers and clinicians match therapeutic outcomes to specific genetic and chemical profiles, and provide physicians, pharmacists, and patients with greater confidence in the products they prescribe or consume.
“We are thrilled to partner with Shoppers Drug Mart and TruTrace Technologies to increase transparency within the medical cannabis industry,” said Irwin D. Simon. “At Aphria Inc., we take responsibility to heart and recognize the importance of standardized testing and quality assurance. This program reflects our ongoing commitment to protecting the health and safety of our patients.”
Shoppers recently announced the successful completion of Phase 1 of the Pilot Program and the addition of Deloitte Canada LLP in a project management and advisory role to execute Phase 2. Full production and implementation is targeted for late November 2019.
“The participation of a major licensed producer like Aphria, with their expertise and dedication to medical patients, is essential to the success of the Pilot Program,” said TruTrace Technologies CEO Robert Galarza. “Together we are working to develop a unified approach to medical cannabis standards that will help ensure full traceability and consistent patient outcomes.”
Under the StrainSecure™ program, the TruTrace team collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.
Aphria Inc. is a leading global cannabis company driven by an unrelenting commitment to our people, the planet, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria Inc. has been a leader in low-cost production of high-quality cannabis at scale, grown in natural conditions. Focusing on untapped opportunities and backed by the latest technologies, Aphria Inc. is committed to bringing breakthrough innovation to the global cannabis market. The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. Aphria Inc. drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion, with a presence in more than 10 countries across 5 continents. For more information, visit: aphriainc.com
About TruTrace Technologies:
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace’s technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace’s technology is proprietary, immutable and cryptographically secure, thereby establishing an accurate and permanent account for cannabis strains from ownership to market.