Avicanna Enters into Exclusive License and Supply Agreement with Major South American Pharmaceutical Company
13 April 2022 - 1:00PM
Avicanna Inc. ("Avicanna" or the "Company”) (TSX: AVCN) (OTCQX:
AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the
development and commercialization of plant-derived medical and
pharmaceutical cannabinoid-based products, is pleased to announce
that it has entered into an exclusive license and supply agreement
with an established South American pharmaceutical company to
commercialize up to four (4) of Avicanna’s proprietary
cannabinoid-based pharmaceutical preparations.
The intellectual property related to Avicanna’s
proprietary cannabinoid-based pharmaceutical preparations was
originally developed through the company’s well established drug
delivery platform and further studied through various Canadian
research collaborations where the formulations demonstrated
stability and bioavailability. The pharmaceutical form of these
formulations was then manufactured in Colombia, through the
Company’s global vertical integration, where the cannabinoid raw
material is also sourced from the Company’s cultivation and
extraction infrastructure.
Through the license and supply agreement,
Avicanna will license the Company’s intellectual property and
supply finished pharmaceutical products starting initially with its
proprietary 10% cannabidiol oral preparation. In connection with
the partnership Avicanna can earn up to $1.3M CAD in initial
licensing fees through achieving near-term milestones.
About Avicanna Inc.
Avicanna is an innovative, commercial-stage, and international
biopharmaceutical company focused on the development, advancement,
and commercialization of evidence-based cannabinoid-based products
for the global consumer, as well as medical and pharmaceutical
market segments. In leading global cannabinoid advancements, The
Company actively collaborates with leading Canadian academic and
medical institutions in research and commercialization. Avicanna
has established an industry-leading scientific platform including
advanced R&D and clinical development that has led to the
commercialization of more than thirty products across its main
market segments:
Medical Cannabis & Wellness
Products: Marketed under the RHO Phyto™ brand these
medical and wellness products are an advanced line of
pharmaceutical-grade cannabinoid products containing varying ratios
of cannabidiol (“CBD”) and tetrahydrocannabinol (“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.
Pharmaceutical Pipeline: Leveraging
Avicanna’s scientific platform, vertical integration, and
real-world evidence, Avicanna has created a pipeline of
patent-pending drug candidates that 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.
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
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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 news 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.
Forward-looking information contained in this news release
includes, without limitation, statements related to anticipated
financial and/or operational results and outlook, including
projected revenues, projected sales growth, anticipated expansion
of product listings, the Company’s anticipated application of its
products, projected growth, anticipated geographical expansion,
receipt of authorizations and regulatory approvals, success of
clinical trials, scientific advancements and developments,
successful commercialization of products, the Company’s priorities,
goals and strategies, industry trends and their anticipated impact,
the anticipated impact of current market conditions on each of our
segments and near term expectations, components and supply chain
constraints, and the Company’s financial statement estimates and
assumptions. 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 news 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.
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