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 it has
successfully expanded its Rho Phyto branded medical cannabis
products into the Caribbean region with successful initial export
to its distribution partner, Bryden Stokes Limited (“Bryden
Stokes”) in Barbados.
Avicanna has entered into a distribution
partnership with Bryden Stokes, an established health and
pharmaceutical product distributor in the Caribbean region to
distribute its medical formulary RHO Phyto line of products
beginning with three (3) product SKUs. This marks the third country
in which RHO Phyto’s medical formulary will be available and the
13th international market that Avicanna’s portfolio of products
have successfully been exported to.
The Company plans to deliver the RHO Phyto
products to the medical community and patients in the Caribbean
through Bryden Stokes’ extensive network and sales infrastructure
in the region starting with Barbados. In addition to the advanced
and evidence-based products, Avicanna will extend its comprehensive
educational platform including patient support, marketing, and
training.
The initial delivery which included oral and sublingual products
has successfully been exported from Canada through Avicanna’s
strategic partnership with Medipharm Labs (TSX: LABS), a leading
pharmaceutical cannabis manufacturer. In Barbados, specifically,
the products will be commercialized under the Medicinal Cannabis
Industry Act 2019-44 which outlines regulation of the handling of
medicinal cannabis on the island. Avicanna plans to expand its
product offerings to the region to include additional SKUs from its
Canadian portfolio as well as pharmaceutical preparations from its
formulary in Colombia.
“We’re excited to expand our Rho Phyto formulary
of products into Barbados with our partner Bryden Stokes, who
shares our vision and focus on supplying the medical community and
patients with scientifically advanced and evidence-based cannabis
products. We look forward to establishing RHO Phyto as the gold
standard throughout the region and aim to build long-term
opportunities for the brand.” said Aras Azadian, CEO.
Bryden Stokes is delighted to commence a
partnership with Avicanna to provide pharmaceutical-grade medicinal
cannabis to patients in Barbados and the Eastern Caribbean;
specifically, the Rho Phyto brand of products. Avicanna’s
evidence-based approach to their formulations, and their
collaborations with leading academic and clinical institutions make
them an ideal partner.
About Bryden Stokes
Bryden Stokes has three distinct business
divisions: Food and Consumer, Brewery, Wine, Spirits and Tobacco,
and Health and Wellness. Their wide network of international
suppliers and thriving portfolio make them one of the leading
distribution companies in Barbados. To support these divisions,
they have over 330 employees and a portfolio of 450 quality
brands.
About RHO Phyto
The advanced and standardized formulations are
offered in various doses of cannabidiol (“CBD”),
tetrahydrocannabinol (“THC”) and THC-Free options in a range of
drug delivery formats including oral, sublingual, transdermal and
local and designed to provide consumers with a range of
inhalation-free cannabinoid-based solutions. The proprietary
formulations are developed and optimized by Avicanna to provide
enhanced absorption while providing a consistent experience with a
pleasant taste and smell. The RHO Phyto products are delivered with
accurate dosing which also allows for easy titration and dosing by
consumers.
Avicanna’s RHO Phyto vision is to provide
education and safe delivery of its products through evidence-based
training and education to consumers, retailers and the medical
community. Avicanna aims to establish RHO Phyto as a recommended
brand within the cannabis industry and has initiated several
pre-clinical and real-world evidence clinical trials on the
products with leading Canadian medical institutions.
To the knowledge of the Company, it carries out
its operations in compliance with all applicable laws in the
jurisdictions in which it operates.
About Avicanna
Avicanna is a Canadian commercial-stage biopharmaceutical
company established in cannabinoid research, development, and
evidence-based products for the global consumer, as well as medical
and pharmaceutical market segments. In leading global cannabinoid
advancements, Avicanna conducts most of its research in Canada at
its R&D headquarters in the Johnson & Johnson Innovation
Centre, JLABS @ Toronto, located in the MaRS Discovery District.
The company actively collaborates with leading Canadian academic
and medical institutions. Avicanna has established an
industry-leading scientific platform including advanced R&D and
clinical development which has led to the commercialization of over
twenty products across four main market segments:
- Medical Cannabis & Wellness
Products: Marketed under the RHO Phyto™ brand, or Magisterial
Preparations, these medical and wellness products are an advanced
line of pharmaceutical-grade cannabis products containing varying
ratios of CBD and THC. The product portfolio contains a full
formulary of products including oral, sublingual, topical, and
transdermal deliveries that have controlled dosing, enhanced
absorption and stability studies supported by pre-clinical data.
The advanced formulary is marketed with consumer, patient and
medical community education and training. Avicanna’s medical and
wellness product portfolio also forms the foundation of the
Company’s pharmaceutical pipeline with the contribution of the
formulations that form the basis of the products as well as the
data generated from sales and participation of the products in real
world evidence studies.
- CBD Derma-Cosmetic Products:
Marketed under the Pura H&W™ or Pura Earth™ brands, these
registered, clinically tested, dermacosmetic products include a
portfolio of functional CBD topical products.
- Pharmaceutical Pipeline: Leveraging
Avicanna’s scientific platform, vertical integration, and
real-world evidence, Avicanna has created a pipeline of
patent-pending drug candidates which are indication-specific and in
various stages of clinical development and commercialization. These
cannabinoid-based drug candidates provide solutions for unmet
medical needs in the areas of dermatology, chronic pain, and
various neurological disorders. Avicanna’s first pharmaceutical
preparation (Trunerox) is in the drug registration stage in South
America.
- Cannabis Raw Materials, Seeds, and
Bulk Formulations: Marketed under the Aureus™ brand, the Company’s
raw material business has successfully completed sales to 11
countries. Aureus offers cannabis dried flower, standardized seeds,
full spectrum extracts, and cannabinoid distillates, isolated
cannabinoids (CBD, THC, cannabigerol (“CBG”) and other rare
cannabinoids), and bulk formulations derived from hemp and cannabis
cultivars through its sustainable, economical, and industrial-scale
subsidiaries based in Colombia. The majority of the Aureus products
are produced at Santa Marta Golden Hemp S.A.S. (“SMGH”), the
Company’s majority-owned subsidiary, which is also Good
Agricultural and Collection Practices (“GACP”) certified and has
United States Department of Agriculture (“USDA”) National Organic
Program certification for its hemp cultivar.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit www.avicanna.com,
contact Ivana Maric by email at info@avicanna.com or follow us on
social media @avicannainc.
The Company posts updates through videos from the official
company YouTube channel
https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.
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 SMGH’s ability to maintain its licenses to cultivate
cannabis, SMGH’s ability to maintain its certifications, SMGH’s
ability to supply any other company based on its current or newly
acquired certifications, or SMGH’s ability to acquire new
certifications or business partnerships. 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 September 3, 2021 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/eacc05e3-aa55-4411-95be-e5ee2854ad7e
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