Ontario, – MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce that its wholly-owned subsidiary, MediPharm Labs Inc., has completed work associated with a Research and Innovation Collaboration Agreement with Georgian College for a Data and Analytics Insights project. This four-month applied research project now complete, heightens MediPharm Labs abilities in diagnostic assessment of operations, analyzing quality management data, creating efficiencies and driving performance.
“We are pleased to have partnered with a leading and innovative research institution to advance the data and analytics behind our cannabis extraction processes and methodology,” said Pat McCutcheon, CEO, MediPharm Labs. “This important work demonstrates our commitment to investing in building a foundation informed by data-driven decisions also supported by future predictive analytics.”
The goal of the collaboration was to create an operational dataset that provides insights and predictive analytics to help glean the highest purity, potency and efficiency from operations. The first phase of the project, completed in collaboration with faculty applied researchers and students from the Peter B. Moore Advanced Technology Centre, established a relational database of original cannabinoid content and potency of cannabis flower inputs tracked through MediPharm Labs’ processes of Milling, Decarboxylation, Extraction, Winterization/Filtration, Solvent Removal, and Distillation through to end products.
“This has been an exciting opportunity for us to work with such an innovative company located right here in Barrie,” said Mira Ray, Director, Research, Innovation and Entrepreneurship at Georgian College. “MediPharm’s goal to be a data-driven company aligns with our Competitive Smart Manufacturing applied research and development program, which supports local businesses on their Industry 4.0 journey. The faculty and students from our Big Data Analytics program have helped MediPharm establish a strong foundation to collect, analyze and utilize their data for real-time decision-making, process improvements and overall productivity and quality gains.”
As part of the project, key performance indicators were established with standard calculation formulae and statistical methodology, enabling the R&D team and operational management to finetune processes with a deep understanding of impacts on quality and cost-effectiveness. The project delivered intuitive functional dashboards to monitor and provide diagnostic management tools to the operations team on a more timely basis. This Big Data project dovetailed with MediPharm Labs’ recent company-wide implementation of SAP, a Tier 1 Enterprise Resource Planning system for data-driven decision making.
About Georgian College
Degrees, diplomas, certificates, apprenticeships and more – Georgian College offers more than 130 market-driven programs to accelerate your success. Georgian is a recognized leader in co-operative education and has one of the highest graduate employment rates among Ontario colleges. We’re known as a trailblazer in entrepreneurship and social innovation education. Georgian is home to 13,000 full-time students, including over 3,600 international students from 85 countries.
Research at Georgian College
The Research and Innovation department is the hub for research, development and innovation at Georgian, focusing on product design, prototyping, process optimization, testing and analysis, big data analytics, and digital solution development. Through industry and community-led activities, we foster a culture of research, scholarship and collegiality that connects students, employees and the community.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and completed commercialization of its Australian extraction facility which generated its first revenues in H1 2020. MediPharm Labs Australia was established in 2017.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, building a foundation informed by data-driven decisions also supported by future predictive analytics. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at http://www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
All information contained in this press release with respect to Georgian College was supplied by Georgian College for inclusion herein.
Source: Globe Newswire