Canopy Health, a partially-owned subsidiary of the Toronto-based global cannabis company Canopy Growth, has filed nine patent applications relating to cannabis-based treatments for sleep and nervous system disorders. Canopy Health’s strategy is to focus on developing intellectual property that it can monetize.

Cannabis Health collaborates with academic researchers, clinicians, and research organizations to develop innovative cannabis based medicines. Sleep disorders are undertreated and can lead to other disorders.

“By enabling world-class research, we are confident that we can contribute to an increased understanding of cannabis as an effective and safe method of treatment and create products that will improve lives,” said Bruce Linton, CEO of Canopy Growth.

Canopy Health and its subsidiary Canopy Animal Health have raised over CD$$15.8 million. Its parent company, Canopy Growth, in one of the world’s larger cannabis producers, operating numerous facilities with over half a million sq ft of production capacity.

Shares of Canopy Growth, the parent company, traded up 1.89% to CD$10.77 today. The market cap is $1.84b and the 52-week range is $3.980 – $17.860.

Source: Canopy Growth press release