June 28, 2016 / 10:47 AM / a year ago

BRIEF-Canopy Growth Corp, Bedrocan Canada launch Brazil joint venture

June 28 (Reuters) - Canopy Growth Corp

* Canopy Growth Corporation and Bedrocan Canada launch Brazil joint venture

* Says closing of an agreement with Sao Paulo-based Entourage Phytolab S.A. with wholly-owned subsidiary Bedrocan Canada Inc

* Co will partner with Entourage to develop cannabis-based pharmaceutical medical products for Brazilian, international markets

* Says to create a new company called Bedrocan Brazil S.A

* Bedrocan Brazil will hold sole local rights to use Bedrocan brand and genetic material and cultivation technology of Bedrocan in Brazil

* Canopy Growth Corp says new company will facilitate importation of bedrocan's proprietary standardized cannabis varieties into Brazilian market

* Canopy Growth Corp says initially, Bedrocan Brazil will import cannabis products into Brazil from Canada or Netherlands

* Will partner with entourage to develop cannabis-based pharmaceutical medical products for Brazilian and international markets

* Entourage will be responsible for developing standardized cannabis extracts for pre-clinical and clinical trials

* Canopy Growth Corp says anticipated that product clinical trials will begin in 2016 and be completed by end of 2017

* Canopy Growth Corp says targeting submission for market approval by Anvisa, Brazilian health surveillance agency, by 2018

* Says initially, Bedrocan Brazil will import cannabis products into Brazil from Canada or Netherlands Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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