DanCann Pharma A/S: The US will enable more research into medical cannabis

COPENHAGEN, Denmark, 12 December 2022 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the "Company"), a Danish company powered by cannabinoids, hereby comments on new legislation in the USA which will increase the possibilities to enable further research in medical cannabis.

Last week, US President Joe Biden signed a law that will make it possible to investigate in the potential uses of cannabis to a greater extent. So far, cannabis in the USA is categorized at federal level as a so-called category 1 substance. The new legislation will open for more research and information.

After passing the US Senate last month, the cannabis reform bill has now been approved by both houses of Congress. However, this does not mean that cannabis will be immediately legalized in the USA, but that resources and permits will be released for increased research into cannabis' positive effects. The new legislation regarding medical cannabis enjoys broad support across the political parties.

During the autumn, both the USA and Germany have announced their serious considerations about a possible legalization of cannabis for recreational use. In the United States, the president has issued an amnesty in relation to the possession of cannabis for personal use, but so far only very few institutions have had the opportunity to work with the handling of medical cannabis, which is illegal at the federal level.

With the new legislation, it will be possible to acquire a so-called Drug Enforcement Administration (DEA) license in order to subsequently cultivate and handle cannabis for research purposes.

Four US congressmen – Democrats Earl Blumenauer and Barbara Lee and Republicans Dave Joyce and Brian Mast – subsequently issued a press release praising the progress in the cannabis field.

- For decades the federal government has stood in the way of science and progress - acting with a misguided and discriminatory approach to cannabis. Today marks a monumental step in rethinking and improving our federal cannabis laws. Research is the basis for the way forward for the US cannabis policy. Research is essential to better understand the therapeutic benefits of cannabis, which has the potential to help millions of Americans struggling with chronic pain, PTSD, multiple sclerosis, anxiety disorders and more, they wrote, among other things.

At DanCann Pharma, one of the few Danish EU-GMP certified manufacturers of medical cannabis, CEO Jeppe Krog Rasmussen is pleased with the development on the other side of the Atlantic.

Jeppe Krog Rasmussen comments:

- The new law will remove the strong barriers that make it difficult for researchers to closely study the effects and properties of cannabis - and this will hopefully give patients more treatment options. It is positive that the authorities in the USA are opening up for more research in the area.

The DEA has also been mandated to approve applicants to be manufacturers of cannabis-derived, FDA-approved drugs under the bill. Producers will also be allowed to import cannabis material to facilitate research into the plant's therapeutic potential. The law furthermore requires the Department of Health and Human Services (HHS) to look at the health benefits and risks of cannabis and reconsider policies that impede research into legally cultivated cannabis.

Until today, it has not even been legal for practitioners in the United States at a federal level to discuss the benefits and risks associated with the use of cannabis-derived products with their patients.

Jeppe Krog Rasmussen comments:

- This is one of the points that the new American law is supposed to eliminate – and thank you for that. In Denmark, general practitioners have the right to issue prescriptions for approved products within the Danish Pilot Programme for medical cannabis on a national level, and an increasingly number of doctors are becoming aware that medical cannabis can have an positive effect on patients. It will be very positive if we can get this recognition to spread worldwide.

About DanCann Pharma

DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical Company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed production and distribution Company based in Denmark. The Company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas. DanCann Pharma is EU-GMP-approved by the Danish Medicines Agency under the Danish Pilot Programme for medical cannabis, and have, among other things, license for manufacturing, export, import and distribution.

DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen and sidelisted on OTCQB Venture Market in USA (DCPXF).

For more information, visit: www.dancann.com  

For further information, please contact:

Jeppe Krog Rasmussen, CEO

E-mail: [email protected]  

Website: www.dancann.com  

Disclaimer

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology.

Forward-looking statements are subject to several risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities.

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