A Natural Health Science Foundation assessment further verifies Tilray Medical’s high-quality standard and its CBD100 product for clinical trial use.
SYDNEY, Australia, Aug. 23, 2022 (GLOBE NEWSWIRE) — Tilray Brands, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that its medical cannabis division, Tilray Medical, has received approval and verification from The Natural Health Science Foundation (“NHSF”) of its flagship product, Tilray Purified Oral Solution (“OS”) CBD100, to be used in clinical trials in Australia and New Zealand.
Denise Faltischek, chief strategy officer and head of international, Tilray Brands, said, “The NHSF (Natural Health Science Foundation) Quality and Equivalency test approval is a testament to the high standards Tilray Medical upholds across all international cannabis markets. As Tilray continues to grow, we are extremely proud to be recognized as a trusted cannabis partner and for the quality standards we deliver for patients worldwide.”
George Polimenakos, general manager, Tilray Medical ANZ (Australia and New Zealand), noted, “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.”
The NHSF is an independent not-for-profit organization that assists patients, consumers, and healthcare professionals in making informed natural medicine choices based on robust science. NHSF believes natural medicines will be valuable in modern scientific medical practice if they follow best practices of quality, safety, and efficacy through transparency and evidence.
Nigel Pollard, chairman, Natural Health Science Foundation, said, “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.”
In addition to the approval received from the NHSF standard of scientific reproducibility for clinical trials, the New Zealand Ministry of Health has verified that the Tilray Purified OS CBD100 has met its quality standards to ensure consistency of the products that medical practitioners prescribe to their patients.
Tilray Medical is one of the leading providers of medical cannabis in Australia and New Zealand for commercial, compassionate access, and research purposes. Patients in Australia and New Zealand may seek access to medical cannabis products by consulting their healthcare practitioner.
Artificial intelligence improves speed and accuracy of cannabis trimming.
WOBURN, MA — PRESS RELEASE — Bloom Automation Inc., an agri-tech company specializing in cannabis trimming equipment, today released the Bloom Artificial Intelligence Engine 2.0—a suite of new algorithms that visually analyze cannabis flowers for faster, more accurate machine trimming.
The AI software update makes Bloom’s robotic cannabis trimming system twice as fast as human trimmers and creates possibilities for other identification-related tasks such as defoliation, harvest weight prediction, and flower bucking.
“We’re excited to announce Bloom’s 2.0 AI Engine for more reasons than one,” said Jon Gowa, CEO and founder of Bloom. “The new AI increases the speed of our machine while also opening the door to support a wide range of third-party applications and equipment.”
The AI performance leap is powered by a confluence of machine learning advances and an ever-expanding database of images collected through years of R&D. Updates to the system’s graphics processing unit (GPU) also enabled the update.
The Bloom trimming system works by manicuring the flowers before their removal from the stem using a robotic arm and cameras to visualize which leaves to remove. The machine shears the leaves cleanly and prevents the overhandling common to traditional, hand-trimming methods.
With cannabis processing expenses estimated at more than 20% of total cultivation costs, the faster AI may save Bloom’s clients millions in the coming years. Increasing price pressures make operational efficiencies critical for cannabis cultivators, and Bloom’s advancements lower labor costs while maintaining top quality.
Non-cannabis applications could include ripeness assessment for fruits and vegetables, as well as automated harvesting.
The industry is gathering in Las Vegas this week to learn about emerging technologies, cultivation research and so much more.
Cannabis Conference 2022 begins today in Las Vegas. It’s the sixth annual event produced by Cannabis Business Times, and this year’s educational and networking opportunities come at a critical time in the industry.
Backed by an award-winning magazine and a team of talented writers, editors and designers, Cannabis Conference is the only North American conference focused exclusively on plant-touching operators. The event is guided by an advisory board comprising cultivation and dispensary experts, and features more than 40 education sessions led by more than 90 industry experts. Cannabis Conference 2022 also includes a sold-out expo floor showcasing more than 170 technology and solutions providers that serve cannabis cultivation and dispensary businesses.
Registration opens at 8 a.m. PT today, Aug. 23. Starting at 10 a.m. PT, All-Access Pass registrants will gain special admission to pre-show workshops on a variety of topics, including new product trends, university research, business development and more.
Chris Conrad and Mikki Norris, legendary human rights activists, will provide the keynote address this afternoon. Their tireless work since the late 1980s has been instrumental in educating people around the world about the benefits of cannabis and hemp legalization—and they will share the story behind their reform efforts.
Tomorrow, Merida Capital Holdings Managing Partner Mitch Baruchowitz will provide the Day 2 keynote: “From Pioneering Founder to Foundational Investor: Mitch Baruchowitz Shares Crucial Strategies for Building a Successful and Long-Term Cannabis Company.” Merida has deployed more than $275 million, and has some $450 million in assets under management across the cannabis ecosystem.
Additional Cannabis Conference 2022 speakers include Chris Ball, Wendy Bronfein, Kim Eastman, Chima Enyia, Bob Groesbeck, Jesce Horton, Rezwan Khan, Claudio Miranda, Mojave Richmond, Anna Shreeve, Hope Wiseman and many more leaders from across the industry!
Sessions to help plant-touching operators achieve success in this constantly evolving industry will cover topics such as:
The event also offers daily networking and opportunities for attendees to personally meet with professionals from both ends of the supply chain. Keep an eye out for CBT team members throughout the show, and let us know if we can help you with anything. We’re thrilled to host you and your team at Cannabis Conference 2022!
The firm also notes that flower purchases account for more than half of monthly dollar sales in New Jersey.
Retail sales data provider BDSA has reported that monthly sales growth in New Jersey’s adult-use market has outpaced that of other adult-use markets tracked by the firm.
The state’s market is succeeding despite having a lower per capita retail count compared to other adult-use markets, according to a press release from BDSA.
“BDSA Retail Sales Tracking shows that the state brought in approximately $200 million in legal sales from April 21 to July 31,” the release states. “Dollar sales have seen a compound monthly growth rate of roughly 10% from May through July 2022. As a point of comparison, Illinois posted a compound monthly growth rate of just 3% in its first three full months of adult-use sales.” (“Dollar sales” refers to sales in dollars, as compared to other measurements, such as units sold.)
Out of consumers surveyed in New Jersey, BDSA Consumer Insights reports that more than half claimed to be “past six-month consumers, an approximate 15% increase in consumer penetration since spring 2020.”
BDSA also notes that as New York and Connecticut consumers are awaiting adult-use sales, consumers are likely coming from those states.
Another trend that has emerged in New Jersey, per BDSA, is many consumers’ affinity for flower. While flower usually accounts for 40% of the dollar sales in other markets, flower purchases made up more than half of monthly dollar sales in New Jersey, the data company reports.
Oregon regulators are concerned about eroding consumer trust in the legal market and have outlined the latest reported violations by cannabis companies.
The Oregon Liquor and Cannabis Commission (OLCC) is continuing to voice concern about product integrity in the state’s cannabis market.
One of the issues that OLCC aims to address is a “loophole.” The agency requires some “licensees that break the law or don’t follow OLCC rules” to surrender their license. However, those licensees can sell their license through the loophole, according to a press release.
At an Aug. 18 meeting, “Commissioners made clear that they don’t want industry poor performers to jeopardize consumer confidence in the regulated recreational marijuana market,” the release states.
Commission Chair Paul Rosenbaum stated that government officials found a lab had a faulty testing process. According to the release, improperly tested products were approved and sold to consumers.
“Consumers in this state have to be one hundred percent sure that we’re complying and doing [testing] safely,” Rosenbaum said, according to the release.
OLCC Compliance Director Jason Hanson told the commission ongoing problems in the state include that companies are adding ingredients to products after testing and then not re-testing; companies are not, when flavoring vapes, following requirements for non-cannabis additives; and companies are manufacturing and distributing products without understanding changes to OLCC rules.
The Commission also ratified the below stipulated settlement agreements:
Cannabis Business Times’ interactive legislative map is another tool to help cultivators quickly navigate state cannabis laws and find news relevant to their markets. View More
