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 is pleased to announce that its RHO
Phyto and Pura Earth branded topicals have attained initial
listings and commenced sales in the Canadian province of Alberta.
As part of the development process, Avicanna’s
topicals have gone through various pre-clinical and clinical
evaluation before being released to the market. These complex and
proprietary topical products are developed through Avicanna’s
renowned R&D platform and formulated to deliver cannabinoids
with synergistic natural active ingredients with long term
shelf-life stability, consistency, and enhanced absorption.
Avicanna’s topical formulations are developed starting with the
cannabinoids in the oil phase – a process that is critical in
preventing degradation, ensuring homogeneity, and increasing
absorption of cannabinoids into the skin. Avicanna’s research team
brings years of product development and topical formulation
expertise and have developed dozens of SKUs of cosmetics, medical
and pharmaceutical preparations that available in several
countries.
Aras Azadian, Avicanna’s CEO, commented: “We are
thrilled to enter another major Canadian province with several of
our proprietary products and two of our brands. With the emergence
of cannabis 2.0 products, the market has been saturated with low
quality products such as topicals, which are often produced by
infusing cannabis extract into a preformulated based cream. This
has been to the detriment of emerging wellness segment within the
Canadian cannabis industry and a source of disappointment to the
consumers who have high expectations for such products. Our market
approach is to deliver these proprietary products with the support
of appropriate education and training to all stakeholders. This
approach will be a driving force in the establishment and growth of
the wellness category and market for functional cannabinoid-based
products.”
Pura Earth Products
Overview
An advanced and clinically tested line of CBD
consumer derma-cosmetic products, these unique formulations are
THC-Free, dermatologist tested for irritation, cruelty-free and
vegan. The fast-absorbing, formulas combine pure CBD with natural
ingredients providing functional benefits for specific needs. Pura
Earth products fit into any daily self-care routine and can be used
in conjunction with other skincare products.
RHO Phyto Extra Strength Deep Tissue Gel
Overview
The gel is part of the most complete and
advanced medical cannabis formulary including oral, sublingual and
topical products with proven success in the medical channels across
Canada, including Medical Cannabis by Shoppers, and the first
formulary to be available in a major Canadian hospital, Sunnybrook
Health Sciences Center in Toronto.
The advanced emulsion formula has proven deep
tissue delivery and increased absorption into deeper layers of the
skin. The fast-absorbing, water-based formula synergistically
combines cannabinoids and functional natural terpenes including
menthol and clove oil which contains eugenol and
beta-caryophyllene. This formulation is currently in ongoing
preclinical studies evaluating the efficacy of the Deep Tissue gel
for attenuating pain and inflammation in osteoarthritis. In
addition, the gel is enrolled in the observational Medical Cannabis
Real World Evidence Study for patients with chronic pain conducted
by the University Health Network.
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 studies 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.
SOURCE Avicanna Inc.
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.
The company posts updates through videos from
the official company YouTube
channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.
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
Company’s ability to continue selling RHO Phyto and Pura Earth
products in any province in Canada, the Company’s ability to
continue selling topical products in any province in Canada, the
Company’s ability to develop topical or other cannabinoid products,
and the Company’s ability to continue to deliver any products to
provincial retailers. 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, and final short form prospectus dated November 27,
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5fde8b9e-8b26-47b6-af73-df1011f06294
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