It also appointed Dr Paola Cubillos, a prominent Colombian naturopathic and integrative medicine physician, as its medical director in the country
() (OTCMKTS:CBIIF), a medical cannabis analytics company, announced Tuesday it is entering the Colombian market.
The focus is to build Colombia’s patient registry and grow the country’s physician network using CB2’s proprietary artificial intelligence-based Decision Support Tool as well as the company’s Sail technology, the industry’s first Clinical Trial Data Management System.
To achieve these goals, the Mississauga, Ontario-based company has appointed Dr Paola Cubillos, a prominent Colombian naturopathic and integrative medicine physician, as its medical director in Colombia.
Dr Cubillos was trained and has practiced in both Toronto and Colombia, CB2 said in a statement.
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Fusing both conventional and naturopathic treatments, she has spearheaded several medical cannabis research efforts at Clinica Las Americas, a highly recognized private hospital in Colombia that belongs to one of the largest healthcare networks in Latin America.
Dr Cubillos has also been at the forefront of medical cannabis advancements and physician education throughout Colombia and Latin America.
“There has been solid growth in positive physician perception throughout Colombia, but we are now at an inflection point where cultivators and manufacturers must embrace traditional research protocols to truly commercialize their products in a meaningful way,” she said.
“ has become the go-to name for cannabis-focused research programs in the US, Canada, and the United Kingdom, and I’m excited to bring that experience to the Colombian market.”
CB2’s opportunity in Colombia
Colombia represents one of the world’s most important emerging medical cannabis markets, CB2 said.
Major local and international cultivators as well as product manufacturers have invested heavily in the Colombian market, such as Canopy Growth Inc () (NYSE:CGC) and Inc () (NYSE:APHA).
Experts estimate that Colombia could supply as much as two-fifths of the world’s cannabis in the future.
Led by Dr Cubillos, CB2 said it will look to be the bridge between physician readiness and the product development in Colombia.
The company will focus its efforts on supporting licensed producers, product manufacturers, pharmaceutical companies and other stakeholders in Colombia that require comprehensive research strategies to bring cannabis-based medicines to market.
Traditional clinical research has often been a challenge for manufacturers due to regulatory restrictions and lack of clear guidelines on product development, which diminishes physicians’ willingness to integrate medical cannabis products into treatment plans, CB2 said.
The company noted that it will build a patient registry, grow the network of physicians ready to prescribe medical cannabis and support stakeholders in the management and execution of clinical trials. The data also will help to generate safety and efficacy data for local regulatory agencies.
In addition, CB2 will launch the proprietary Decision Support Platform to help provide point-of-care education and reference guidelines to physicians seeking to identify cannabis as a treatment option for their patients.
CB2 Insights’ tools will enable physicians to follow standardized protocols in assessing, determining and prescribing medical cannabis.
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