Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) has now received some desired approval for its flagship oral solution (OS) from a renowned non-profit organization and government department.
On Tuesday, the company’s medical cannabis division, Tilray Medical, received validation and approval from the Natural Health Science Foundation (NHSF) for its Purified OS CBD100 product which will be utilized in clinical trials conducted in New Zealand and Australia.
Additionally, the New Zealand Ministry of Health has also given its validation for Tilray’s OS product after meeting the required quality standards.
Tilray Medical has received approval and verification from The Natural Health Science Foundation of its flagship product, Tilray Purified Oral Solution CBD100, to be used in clinical trials in Australia and New Zealand.
— Tilray Brands (@tilray) August 23, 2022
Tilray ANZ is a division of Tilray Brands dedicated to medical cannabis and the NHSF is a non-profit organization focused on assessing the quality of natural health products. The New Zealand Ministry of Health is a department of the NZ government responsible for healthcare in the country.
“We are extremely pleased with this outcome and proud to provide EU-GMP certified products to patients in Australia and New Zealand. Having our product quality validated by the NHSF demonstrates Tilray’s commitment to delivering the highest quality cannabis products to our patients,” said George Polimenakos, General Manager at Tilray ANZ (Australia, New Zealand).
“Tilray Purified OS CBD100 has been thoroughly assessed by independent experts and has met the Quality & Equivalence standards of the Natural Health Science Foundation. This means the product has a basis of reproducibility which serves as a valid medical intervention, from a scientific point of view, for patient use and to test in a clinical trial,” added Nigel Pollard, Chairman at the NHSF.
Tilray stock increased by 0.11 per cent on Tuesday to $4.60 on the Toronto Securities Exchange.