The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) says it has reached a further strategic milestone with the receipt of a Cannabis Research Licence from Health Canada, which will allow it to carry out human trials to assess how its cannabis extracts, concentrates and oils are perceived by the senses.
It means the cannabinoid-based products specialist will be able to assess how its potential offerings are perceived and differentiated between each other, the firm said.
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"This exciting and strategic milestone gives us the competitive advantage to further innovate and differentiate our leading oil-based product offerings," Tyler Robson, CEO at The Valens Company said in a statement.
"With this research licence, we are now able to perform sensory assessments at the product development stage to determine quality and marketability of our products to maximize potential launch success. Findings from future proprietary research initiatives will advance our understanding of cannabis preferences allowing us to continue developing premium, next-generation products that meet evolving customer and consumer needs," he added.
The human studies will be carried out at the group's huge extraction, manufacturing and testing facilities in Kelowna, British Columbia.
"This research licence not only solidifies our position as a one-stop shop for our customers by increasing our presence within their value chains, but also provides added credibility to our platform as we look to expand to new markets," noted Jeff Fellows, president of The Valens Company.
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