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Canabo Medical Leverages ‘Big Data’ to Create Value

Ryan Allway

June 1st, 2017

News, Top News

Cannabinoids have become an intense area of focus for researchers across a wide range of medical conditions. According to Google Scholar, more than 1,860 papers have been published covering cannabinoids since the beginning of the year. The problem is that many pharmaceutical companies have a hard time gathering patient data given the nature of the industry and the lack of physician support.

In this article, we will look at Canabo Medical Corp.’s (TSX.V: CMM) (OTCQB: CAMDF) medical cannabis clinics and why the data they generate could be priceless to researchers and companies operating in the medical cannabis industry.

Canada’s Largest Clinic Network

Canabo Medical owns and operates 16 Cannabinoid Medical Clinics – or CMClinics – across Canada, making it the country’s largest network of physician-led referral-only clinics for medical cannabis. The company began opening clinics in 2014 following the liberalization of Canada’s marijuana laws. This year, the company expects to open up several new clinics while partnering with Aviva Medical and Peak Medical Group to expand its presence even further.

CMClinics are dedicated to evaluating the suitability of prescribing and monitoring cannabinoid treatments for patients suffering from chronic pain and disabling illness. The clinics are staffed by physicians and qualified health care practitioners that are specifically trained to assess patient suitability for cannabinoid treatment, recommend treatment regimens, and monitor treatment progress over time – an end-to-end patient process.

Currently, the company generates revenue by charging a fee that is covered by provincial billings, which means that visits are fully-covered by insurance. Millions of Canadians suffer from medical conditions that could benefit from cannabinoid-based treatment options, which means that the company has an enormous potential end market for its products. These revenue streams alone could translate to significant value creation for shareholders.

The Real Value is in the Data

Canabo Medical’s CMClinics provide an excellent source of clinical data that can be used to support the research and development of cannabinoid therapeutics. This ‘big data’ potential could become the true driver of value for existing and future shareholders through licensing agreements with researchers interested in accessing the data and/or partnership opportunities with pharmaceutical companies looking to develop cannabinoid therapeutics.

Figure 1 Breakdown of Canabo Patients by Indication

Canabo currently has over 20,000 patients that have been enrolled, and that number is growing at a rate of over 1,000 new patients each month. The clinics collect a whole range of data, from demographics to lifestyle information to medical history. The company has even more detailed data on patients that are referred for cannabinoid treatment, both looking backward (previous medications and treatments, test results, baseline tests) and going forward (patient reported efficacy, other ongoing or new treatments, repeat standardized tests).

This type of data, in large and growing quantities, is of tremendous value to organizations looking to research the effects of medical marijuana. Canabo can provide insight, for example, into which pain conditions respond best to cannabinoid treatment, or which opioids are reduced most dramatically following the introduction of medical marijuana. These insights can give researchers and drug developers a leg up and can also help the insurance industry understand how medical marijuana treatments could affect their claim costs.

With such a large database, Canabo has sufficient patients in almost every potential sub category – males 40-49, lower back pain related to disk injury, pain level 4-6, with a –30 degree range of movement, currently taking a specific medication, who are not using physiotherapy and who have lost work time to their chronic pain. To run a test with this group, the company has their phone numbers.  For a university to run research test with this group, they may spend 6-12 months just finding participants, and spend $100,000 just finding them.

On April 7, the company announced a new landmark observational study that connected doctor-supervised medical cannabis treatments to a sharp drop in benzodiazepine (Xanax and Valium, for example) reliance among Canadian patients. The research helps support the case for medical cannabis and other cannabinoid-based treatments for pain and anxiety and marks just one way that the company is leveraging its ‘big data’ assets to support the industry.

On May 15, the company announced a collaborative agreement with Terra Life Sciences Inc. to jointly work on the research and development of cannabinoid-based treatments to target specific conditions. Terra Life owns and operates two pharma-grade facilities capable of manufacturing pharmaceuticals and over-the-counter products while boasting eight Ph.D.s on its staff. Canabo’s clinics will become a testing ground for observational and clinical studies.

Looking Ahead

Canabo Medical Corp. (TSX.V: CMM) (OTCQB: CAMDF) is well-positioned as an intermediary between pharmaceutical companies and patients and doctors. The company aims to create significant long-term value by providing access to the ‘big data’ generated from its patients to pharmaceutical companies and other groups interested in creating cannabinoid-based therapeutics targeting any number of medical conditions.

Investors may want to consider the company sooner rather than later given its expanding patient population and recent agreements to develop cannabinoid-based therapeutics. These agreements and others could create many catalysts for the stock trading with a modest market capitalization of just C$15 million, as of May 31, 2017.

For more information, visit the company’s website.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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