The Toronto-based company said in a release Tuesday that it had completed Phase One in partnership with Premier Health Group (CSE:PHGI), including targeting user testing.
Shares of CB2 Insights rose 5.9% on the Canadian Securities Exchange to C$0.18 and were flat on OTC markets at US$0.14.
READ: CB2 Insights says Premier Health begins adoption of cannabis-focused Clinical Decision Support tool
Premier Health’s Electronic Medical Records platform Juno gives CB2 access to more than 4,600 physicians and healthcare professionals.
Once integration is completed, users will be able to tap into a data-driven platform that eases physicians through the evaluation process for medical cannabis treatment, CB2 said in a statement. The company believes that the partnership aligns with its mission to incorporate medicinal cannabis into traditional healthcare.
The two companies expect full rollout to be complete by 3Q 2019.
In what CB2 calls the first of its kind, the Clinical Decision Support tool gives primary care physicians the resources and tools necessary to access the validity of medical cannabis as a treatment option by providing guidelines to leverage data from nearly 500 research papers and data from over 450,000 patient interactions.
“Physicians are the gatekeepers to any pharmacological treatment option for patients and enabling them to include medical cannabis into those options is a key advancement in the industry that all stakeholders should be excited about,” said Prad Sekar, CEO of CB2 Insights.
“The success of this project thus far is confirmation that healthcare practitioners have been awaiting the tools that will help them remove the barriers that persist in the complicated world of medical cannabis.”
“Our work with CB2 Insights has been long awaited by physicians who understand the benefits of medical cannabis, (but) are unsure of how to incorporate it within their clinics,” said Dr Essam Hamza, Premier Health’s CEO. “We are excited to be bringing this robust and medically validated tool to our Juno user base.”
The agreement is the first full-scale commercialization of CB2’s Data Insights business unit, a cornerstone of the analytics company’s proprietary software and service brands. CB2 expects to monetize the CDS tool via a subscription-based service for cannabis licensed producers to access clinically generated effectiveness data.
CB2 said it has had successful conversations with licensed producers who are interested in subscribing to these reports.
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