MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF)
(FSE:MLZ) (“MediPharm Labs” or the “Company”) a
global leader in specialized, research-driven
pharmaceutical-quality cannabis extraction, distillation and
derivative products, today announced it has entered into a new
white-label supply agreement with DanCann Pharma A/S (“DanCann
Pharma”). The company will be serviced by both GMP approved
facilities, MediPharm Labs Inc. and MediPharm Labs Australia Pty
Ltd (“MediPharm Labs Australia”). This marks MediPharm Labs’ third
supply agreement for the export of finished products to Denmark
expanding its revenue opportunity in an emerging medicinal cannabis
market.
DanCann Pharma is a medical cannabis company
focused on discovering, developing, manufacturing and
commercializing new therapeutic cannabinoids in a wide range of
disease areas. DanCann Pharma manufactures and imports prescription
(Rx-pharmaceuticals) and over-the-counter (OTC) pharmaceuticals
focused on pain patients with alternative needs and management to
handle their illness, covered by the Danish Pilot Program for
medical cannabis – with future targets for further and new patient
groups and segments.
“We continue to build our presence and
reputation as an Active Pharmaceutical Ingredient supplier in
emerging markets such as Denmark where we are qualified by our
GMP-certified production capabilities for medicinal, wellness and
adult use applications,” said Pat McCutcheon, CEO, MediPharm Labs.
“We are pleased to be adding a healthcare focused company like
DanCann Pharma to our growing customer portfolio as they look to
develop new and innovative medical cannabis products in therapeutic
areas we believe will drive additional growth opportunities in a
young market like Denmark and the rest of Europe.”
Under the agreement, which has an initial
two-year term, MediPharm Labs will supply a full range of specially
formulated CBD and THC cannabis oil products that will be
white-labeled for distribution.
“At DanCann Pharma our vision is clear, to
improve the health and quality of life for patients facing
challenges and while working to create new cannabis- and
cannabinoid-based pharmaceuticals for the future. Our focus on
differentiated innovative drug administration systems will enable
us to create a leading Scandinavian cannabis- and cannabinoid-based
company,” said Jeppe Krog Rasmussen, Founder and CEO, DanCann
Pharma. “Pharmaceutical cannabis- and cannabinoids are an important
and exciting industry showing signs of strong growth, increasing
interest, and rising popularity - an extremely powerful combination
and foundation for industry pioneering companies in Europe. We are
very excited about this collaboration with MediPharm Labs, and look
forward to soon being able to deliver products to the many Danish,
and in the future, Scandinavian patients who seek alternative
treatment who have not been successful with conventional
medicine.”
About Denmark’s Medical Cannabis
Market
Denmark launched its four-year medical cannabis
pilot program on January 1st, 20181. Post-harvest Good
Manufacturing Processes (GMP) is required for distribution of
medical cannabis products in Denmark2.
Through the program, physicians can prescribe
medical cannabis for all purposes and are guided by recommendations
in four areas: pain caused by multiple sclerosis, pain caused by
spinal cord damage, side effects from chemotherapy treatment and
neuropathic pain that is due to brain, spinal cord or nerve
damage3. The guidelines published by the Danish Medicines Agency
are based on an extensive review of literature as well as
assessments of: cannabis schemes in the Netherlands, Canada and
Israel; previous cannabis drug approvals in Europe and the US; and
scientific evidence by the National Academy of Sciences (USA,
2017).
Denmark granted patients legal access to
cannabis-based medicinal products two years ago as part of a
four-year pilot program. The program provides patients with safe
product access and national health authorities with patient data
that they can use to understand usage and efficacy. According to
information complied by New Frontier Data and the Danish Ministry
of Health, over 2,100 patients (primarily women between the ages of
42-64) received cannabis-based medicinal products from 429
prescribing doctors under this program in 2019.
About DanCann Pharma A/S
DanCann Pharma A/S was founded in 2018 and is a
Danish pharmaceutical biotechnology company powered by
cannabinoids. The Company is focused on discovering, developing,
manufacturing, and commercializing of novel cannabinoid
therapeutics in a broad range of disease areas. During the summer
2018, the Company was licensed as one of the first companies in
Denmark to handle and cultivate medical cannabis through the
Development Scheme.
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in
the production of purified, pharmaceutical quality cannabis oil and
concentrates and advanced derivative products utilizing a Good
Manufacturing Practices certified facility with ISO standard built
clean rooms. MediPharm Labs has invested in an expert,
research-driven team, state-of-the-art technology, downstream
purification methodologies and purpose-built facilities with five
primary extraction lines for delivery of pure, trusted and
precision-dosed cannabis products for its customers. Through its
wholesale and white label platforms, they formulate, consumer-test,
process, package and distribute cannabis extracts and advanced
cannabinoid-based products to domestic and international markets.
As a global leader, MediPharm Labs has completed commercial exports
to Australia and is nearing commercialization of its Australian
Extraction facility. MediPharm Labs Australia was established in
2017.
For further information, please
contact: Laura Lepore, VP, Investor Relations Telephone:
705-719-7425 ext 1525Email: investors@medipharmlabs.comWebsite:
www.medipharmlabs.com
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of the applicable
Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements and
are based on expectations, estimates and projections as at the date
of this news release. Any statement that involves discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but
not always using phrases such as “expects”, or “does not expect”,
“is expected”, “anticipates” or “does not anticipate”, “plans”,
“budget”, “scheduled”, “forecasts”, “estimates”, “believes” or
“intends” or variations of such words and phrases or stating that
certain actions, events or results “may” or “could”, “would”,
“might” or “will” be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements relate
to, among other things, the successful performance of the
agreements and shipping of products thereunder as planned;
additional growth in Denmark and Europe; and developing new and
innovative medical cannabis products in therapeutic areas.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; the inability of MediPharm Labs to obtain
adequate financing; the delay or failure to receive regulatory
approvals; and other factors discussed in MediPharm Labs’ filings,
available on the SEDAR website at www.sedar.com. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on the forward-looking statements and
information contained in this news release. Except as required by
law, MediPharm Labs assumes no obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change.
All information contained in this press release
with respect to DanCann Pharma was supplied by DanCann Pharma for
inclusion herein.
1 Medicinal Cannabis Pilot Program. Retrieved:
https://laegemiddelstyrelsen.dk/en/special/medicinal-cannabis/citizens/medicinal-cannabis-pilot-programme/2
The Medical Cannabis Market in Denmark & Europe. Retrieved:
https://www.openaccessgovernment.org/the-medical-cannabis-market-in-denmark-europe/80721/3
The Danish Medical Cannabis Pilot Programme: Putting the Patient
First. Retrieved:
https://www.healtheuropa.eu/the-danish-medical-cannabis-pilot-programme-putting-the-patient-first/92991/
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