BARRIE, Ontario, Oct. 25, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a worldwide leader in specialized, study-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce that its co-founders, Pat McCutcheon (Chairman & CEO) and Keith Strachan (Director & President), had been named as finalists in the EY Ontario Entrepreneur of the Year Award in the Overall health & Life Sciences category. Finalists and winners had been announced on October 24, 2019 in Toronto at the annual awards gala.
The EY Entrepreneur of The Year® recognizes the endeavors of exceptional men and women who build the goods and solutions that hold regional and worldwide economies moving forward. Due to the fact its inception, Entrepreneur of The Year has grown and now involves applications in much more than 145 cities and much more than 60 nations worldwide.
I am deeply honoured and humbled to have been named a finalist of this globally recognized award. We started this organization with a vision to adjust the globe by harnessing the energy of cannabis. I am grateful for all who trusted and believed in us along the way, specially our relentless and difficult-operating workers, our loyal investors and unwavering mates and family members.
Pat McCutcheon, Chairman and Chief Executive Officer of MediPharm Labs
The immense possibilities that are nonetheless to come in this quickly evolving market tends to make the future of cannabis pretty vibrant. We are all excited for what is also nonetheless to come for MediPharm Labs right here in Canada and across the globe.
“It’s been a record-paced year given that recreational cannabis was legalized and we commenced sales in this new ground-breaking market. We’ve come a extended way via quite a few hurdles. We remained steadfast in our vision, believing in ourselves and in our dream of developing the most effective cannabis organization in the globe,” says Keith Strachan, Director and President of MediPharm Labs.
Becoming recognized and named as a finalist for the prestigious Entrepreneur of the Year award is an honour and unbelievable validation of the final 4 years. I’m searching forward to what the future holds for MediPharm Labs, we are just receiving began.
Keith Strachan, Director and President of MediPharm Labs
MediPharm Labs: Our Distinctive Story, Developing A Distinct Cannabis Firm
4 years ago, as the Canadian cannabis market ramped up with the development and domination of vertically integrated cultivators, MediPharm Labs’ co-founders, Pat McCutcheon and Keith Strachan, saw an chance to be unique. They identified a segment of the cannabis worth chain they could concentrate on to establish a lucrative enterprise by specializing in the greater development location of extraction and pioneering a unique niche. They set a precedent with Overall health Canada’s application approach, becoming the initial to ever apply for a cannabis oil production license with no initial possessing a cultivation license.
Though waiting for the final stages of licensing to be completed through a rigorous two-year approach, the two entrepreneurs staffed the facility, created internal protocols, modified gear, formed partnerships, amassed dried cannabis inventory and made extracted resin proving their readiness to provide their initial sales upon getting their B2B sales license on November 9, 2018. They strived to sustain their independence, accepting no equity ownership from other licensed producers, assuring their capacity to operate with absolutely everyone in the market as a trusted, autonomous supplier. With cannabis licence #95 from Overall health Canada in hand, MediPharm Labs swiftly vaulted to rank amongst the top rated five cannabis-income-generators in Canada.
To hold pace with adjust in the market, Pat and Keith, via their leadership, developed a culture of innovation. They invested in a hugely skilled group of experts, quite a few from the bio-pharmaceutical Market. They also aligned with outdoors consultants and suppliers to optimize operations, gear and methodologies and established a Science Advisory Committee with internationally esteemed scientists, researchers and healthcare experts, who collaborate with MediPharm Labs on advancements in the emerging fields of cannabinoid extraction and cannabinoid-primarily based derivative science.
Seeking forward, MediPharm Labs has invested in R&D and strategic alliances to reach its longer-term aim of becoming Active Pharmaceutical Ingredient provider for cannabis medicines upon completion of clinical study trials. MediPharm Labs has set its sights on new jurisdictions that have currently authorized healthcare cannabis use, actively looking for import/export possibilities, though also developing their Australian subsidiary facility anticipated to be operational in early 2020.
MediPharm Labs was previously awarded Get started-Up of the Year 2018 at the Canadian Cannabis Awards and its Australian subsidiary was the Innovation Award winner of the Australian Cannabis Market Awards in 2019.
About Pat McCutcheon – Chairman and Chief Executive Officer
Prior to founding MediPharm Labs, Pat enjoyed a 15-year profession in the pharmaceutical market in top rated sales roles, effectively launching a wide variety of healthcare goods. He most not too long ago worked at Janssen Pharmaceuticals (Johnson & Johnson) exactly where he led the Hospital Division for Renal and Mental Overall health goods. Pat brings this pharmaceutical viewpoint to MediPharm Labs, investing type the outset in pharma requirements such as ISO rated clean rooms and important environments and possessing our facility constructed and operating to European Very good Manufacturing Practices. Pat’s foresight in generating a enterprise that focuses on sophisticated cannabis concentrates bodes effectively for healthcare study, investors and shoppers alike. Pat holds an HBSc (Biology) degree from the University of Western Ontario.
About Keith Strachan – Director and President
Keith Strachan co-founded MediPharm Labs in 2015, using his consultancy experience in Public Sector RFP and government contracts, compliance for government licensing and regional preparing, to break the mould and safe the initial Overall health Canada Licence for cannabis oil production with no initial becoming a cultivator. A seasoned entrepreneur, Keith has applied his leadership to developing out MediPharm Labs’ major-edge facilities, launching operations and developing its workforce, though also strategically driving enterprise improvement with the Company’s quite a few provide, contract processing and white label companion LPs.
About EY Entrepreneur of the Year®
EY Entrepreneur of The Year® is the world’s most prestigious enterprise awards plan for entrepreneurs. The plan tends to make a distinction via the way it encourages entrepreneurial activity amongst these with prospective and recognizes the contribution of men and women who inspire other people with their vision, leadership and achievement. As the initial and only actually worldwide awards plan of its type, Entrepreneur Of The Year® celebrates these who are developing and major profitable, developing and dynamic corporations, recognizing them via regional, national and worldwide awards applications in much more than 145 cities in much more than 60 nations. ey.com/eoy
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-grade cannabis oil and concentrates and sophisticated derivative goods using cGMP (present Very good Manufacturing Practices) made facility and ISO normal constructed clean rooms. MediPharm Labs has invested in an professional, study-driven group, state-of-the-art technologies, downstream purification methodologies and objective-constructed facilities with five key extraction lines possessing 300,000 KG of annual processing capacity to provide pure, secure and precisely-dosed cannabis goods for its clients. Via the Company’s wholesale, private and white label platform, MediPharm Labs formulates, processes, packages and distributes active pharmaceutical components and sophisticated cannabinoid-primarily based goods to domestic and international markets. As a worldwide leader, MediPharm Labs has completed industrial exports to Australia and is nearing completion of its Australian extraction facility anticipated in 2019 with 75,000 KG of annual processing capacity.
For additional info, please get in touch with:
Laura Lepore, VP, Investor Relations
Phone: 705-719-7425 ext 216
E-mail: [email protected]
Web site: www.medipharmlabs.com
Original press release