Canopy Growth signs R&D partnership with major U.S. firm Battelle

cannabis

Smiths Falls-based Canopy Growth (TSX:WEED)(NYSE:CGC) announced Tuesday that it’s working with one of the world’s largest researchers to advance new cannabis products and applications.

The local licensed producer will work with Battelle, a Columbus-based company that purports to be the largest private R&D non-profit in the world. The Ohio firm, which reported US$4.8 billion in annual revenues in 2016, has had a hand in notable scientific breakthroughs and product developments throughout history including Xerox copying, cruise control and compact discs.

As part of the two firm’s partnership, Canopy says it went through the rigorous application process to export samples of cannabis to Battelle’s testing facilities in the United States. Taking cannabis across the border between the United States and Canada remains federally illegal, even into states where weed has been legalized.

"As more states, including Ohio, approve the use of medical cannabis to help individuals with certain illnesses, we believe that Battelle will be able to apply our rigorous and independent research and analysis to advance knowledge and improve safety in what is essentially uncharted territory," said Battelle president and CEO Lou Von Thaer in a statement.