Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) is a clinical-stage biotechnology company focused on developing therapies for inflammatory heart disease. The Company has received approval from the U.S. FDA for its Investigational New Drug application to commence a Phase II/III clinical trial to investigate its lead product, CardiolRx™, in hospitalized COVID-19 patients with a history of, or risk factors for, cardiovascular disease. CardiolRx™ is a pharmaceutically produced, cGMP certified, THC free (<10 ppm) oral cannabidiol formulation. Cardiol is also planning a Phase 2 trial in acute myocarditis. The Company recently launched Cortalex™, www.cortalex.com, the first THC-free extra-strength formulation of cannabidiol oil available across Canada online at Medical Cannabis by Shoppers.
Market watchers say the deal may lend further legitimacy to a growing segment of cannabis companies that focus on pharmaceutically produced products