/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED
STATES SECURITIES LAWS/
- Authorized cannabinoid products will be available to the
medical community and patients in early Q4 2020 including
Avicanna's advanced oral, sublingual, and topical formulations
branded and sold as RHO Phyto™ in Canada and other markets.
- This is the first ever compound pharmacy in Colombia authorized to specialize only in the
production of cannabinoid formulations and the first authorized to
offer topicals.
- This is the final step in Avicanna's fully integrated seed
to patient business model in Colombia, which includes cultivation,
extraction and manufacturing of pharmaceutical products for the
emerging medical market with the 50 million people.
TORONTO, Sept. 14, 2020 /CNW/ - Avicanna Inc.
("Avicanna" or the "Company) (TSX: AVCN) (OTCQX:
AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the
development, manufacturing and commercialization of plant-derived
cannabinoid-based products announces that through its wholly owned
subsidiary Avicanna LATAM S.A.S. ("Avicanna LATAM"), the
Company's pharmacy in Bogota has
been certified with Good Preparation Practices ("GPP") and
authorized by the National Institute for Drug and Food Surveillance
("INVIMA") for the sale of compounded pharmaceutical
products to service medical prescriptions of individual patients in
Colombia.
"We are thrilled to be able to offer our pharmaceutical
preparations to the Colombian medical and patient communities.
While the medical cannabis market in Colombia is still in its infancy, we are
committed to educating both physicians and the medical community of
the benefits and potential risks of cannabinoid-based medicine for
their patients. We are leveraging years of learning and extensive
research and development allowing us to provide the Colombian
population with standardized and advanced medical solutions." Aras
Azadian CEO, Avicanna Inc.
The GPP authorization permits Avicanna LATAM to manufacture its
line of advanced cannabinoid formulations including oral,
sublingual, and topical preparations to service individual
prescriptions issued by qualified medical professionals such as
doctors, hospitals, and third-party independent clinics. The unique
cannabinoid formulations are branded as RHO Phyto™ in mature
cannabis markets, such as Canada,
and are poised to set the standard in Latin America by offering products with years
of extensive research and development manufactured with world-class
quality standards. All the formulations have been optimized for
consistent delivery and increased absorption and are designed to
maintain the stability of the cannabinoids over the course of
treatment.
The cannabinoids used in the preparation of these final products
are locally-sourced from Avicanna's majority owned subsidiaries
Santa Marta Golden Hemp S.A.S. ("SMGH") and Sativa Nativa
S.A.S. ("SN") allowing for full control and adherence to the
highest quality standards along the entire value chain from seed to
finished product. The commercialization strategy for the launch of
these medical cannabis products includes education and training of
health care professionals and partnerships with third-party
hospitals and clinics which have been cultivated over the past few
years.
Lucas Nosiglia, President of
Avicanna LATAM commented "We are proud to be one of the first
companies to offer the Colombian market with these unique product
formulations that may address a variety of medical conditions and
treat patients across in Colombia.
Furthermore, we are providing Colombians with the combination of
Avicanna's advanced formulations and our own organic and
sustainably cultivated cannabis from the foothills of the Sierra
Nevada in Santa Marta."
About Avicanna
Avicanna is a diversified and vertically integrated Canadian
biopharmaceutical company focused on the research, development, and
commercialization of plant-derived cannabinoid-based products for
the global consumer, medical, and pharmaceutical market
segments.
Avicanna is an established leader in cannabinoid research and
development, which it primarily conducts at its R&D
headquarters in the Johnson & Johnson Innovation Centre, JLABS
@ Toronto, Canada and in collaboration with leading
Canadian academic and medical institutions. In addition to its
developing pharmaceutical pipeline, Avicanna's team of experts have
developed and commercialized several industry leading product
lines, including:
- Pura H&W™: an advanced and clinically tested line of CBD
consumer derma-cosmetic products; and,
- RHO Phyto™: an advanced line of medical cannabis products
containing varying ratios of CBD and THC currently available
nation-wide across Canada in partnership with Medical
Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO
Phyto is the first strictly medical formulary of advanced "Cannabis
2.0" products, containing oils, sprays, capsules, creams, and gels,
all developed with scientific rigour, manufactured under GMP
standards and supported by pre-clinical data.
With ongoing clinical trials on its derma-cosmetic (Pura
H&W), medical cannabis (RHO Phyto) and a pipeline of
pharmaceutical products, Avicanna's dedication to researching the
important role that cannabinoids play in an increasingly wider
scope of products has been at the core of the Company's vision
since its inception. Furthermore, Avicanna's commitment to
education is demonstrated through its annual medical symposium, the
Avicanna Academy educational platform, and the My Cannabis Clinic
patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and
extraction through its two majority-owned subsidiaries, Sativa
Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located
in Santa Marta, Colombia. Through these sustainable,
economical, and industrial scale subsidiaries, Avicanna cultivates,
processes, and commercializes a range of cannabis and hemp
cultivars dominant in CBD, CBG, THC, and other cannabinoids for use
as active pharmaceutical ingredients. Avicanna's Avesta Genetica
program specializes in the development and optimization of rare
cultivars for commercial production along with feminized seeds for
global export. In June 2020, Avicanna made history with a
shipment of hemp seeds to the United
States of America by completing the first ever export
of hemp seeds from Colombia.
Stay Connected
For more information about Avicanna, visit www.avicanna.com,
call 1-647-243-5283, or contact Setu
Purohit, President by email at info@avicanna.com.
Cautionary Note Regarding Forward-Looking Information and
Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws. Forward-looking
information contained in this press release may be identified by
the use of words such as, "may", "would", "could", "will",
"likely", "expect", "anticipate", "believe, "intend", "plan",
"forecast", "project", "estimate", "outlook" and other similar
expressions, and includes statements with respect to the
ability of the Company to provide the Colombian population
with standardized and advanced medical solutions, the
ability of Avicanna LATAM to manufacture its line of
advanced cannabinoid formulations to service individual
prescriptions issued by qualified medical
professionals, the Company's ability to set the
standard in Latin America by
offering products with years of extensive research and
development manufactured with world-class quality standards, the
ability of the unique formulations to maintain the stability
of the cannabinoids over the course of treatment, the ability of
the Company to source the cannabinoids for the manufacture of the
medical cannabis products from SMGH and SN, the ability of the
product formulations to address specific medical conditions, and
the ability of SMGH and SN to continue to cultivate organic and
sustainable cannabis. Forward-looking information is not a
guarantee of future performance and is based upon a number of
estimates and assumptions of management in light of management's
experience and perception of trends, current conditions and
expected developments, as well as other factors relevant in the
circumstances, including assumptions in respect of current and
future market conditions, the current and future regulatory
environment; and the availability of licenses, approvals and
permits.
Although the Company believes that the expectations and
assumptions on which such forward-looking information is based are
reasonable, undue reliance should not be placed on the
forward-looking information because the Company can give no
assurance that they will prove to be correct. Actual results and
developments may differ materially from those contemplated by these
statements. Forward-looking information is subject to a variety of
risks and uncertainties that could cause actual events or results
to differ materially from those projected in the forward-looking
information. Such risks and uncertainties include, but are not
limited to current and future market conditions, including the
market price of the common shares of the Company, and the risk
factors set out in the Company's annual information form dated
April 15, 2020, filed with the
Canadian securities regulators and available under the Company's
profile on SEDAR at www.sedar.com.
The statements in this press release are made as of the date
of this release. The Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
SOURCE Avicanna Inc.