Retirement of Chandra Panchal, PhD from the Board of Directors
01 September 2023 - 11:30PM
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 today that Chandra Panchal,
PhD is retiring as Chairman of the Board of Directors and that it
will initiate a search for a new director.
“We wish to express our deepest thanks to Dr.
Panchal for all his time and all of his efforts during these past
seven years that he has served as a member of the Board of
Directors of the Company. During his tenure with Avicanna, Dr.
Panchal witnessed our evolution from a pre-commercial R&D-stage
company into an international biopharmaceutical company and
assisted management with various external challenges and internal
growing pains along the way,” stated Aras Azadian, CEO.
“It was an honor to have served as Chairman of
the Board these past years. With the Company recently closing a
transformational acquisition, launching MyMedi.ca, and reporting
record revenues, I am proud of the Company’s management and
employees who have developed Avicanna from a fledgling start-up to
an international player in a short period of time. I believe now is
the right time for me to retire from active board service at the
Company,” stated Chandra Panchal, PhD.
About Avicanna Inc.
Avicanna is a commercial-stage international
biopharmaceutical company focused on the advancement and
commercialization of evidence-based cannabinoid-based products for
the global medical and pharmaceutical market segments. Avicanna has
an established scientific platform including R&D and clinical
development that has led to the commercialization of more than
thirty products across various market segments:
- Medical Cannabis &
Wellness Products (RHO
Phyto™): The
formulary offers a diverse range of proprietary formulations
including oral, sublingual, topical, and transdermal deliveries
with varying ratios of cannabinoids and is supported with ongoing
patient, and medical community education. RHO Phyto has been
established as a leading medical brand in Canada and is currently
available nationwide to patients across several medical channels
and continues to expand into new international markets.
- Pharmaceutical Preparations
and Pipeline: Leveraging Avicanna’s
scientific platform, vertical integration, and real-world evidence,
Avicanna has developed an extensive 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 look to address 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.
- Medical Cannabis Care
Platform (MyMedi.ca): MyMedi.ca is
Avicanna’s medical cannabis care platform that is formed with the
aim to better serve medical cannabis patients’ needs and enhance
the patient journey. MyMedi.ca features diverse and scientifically
curated products from leading Canadian licensed producers in
addition to pharmacist led patient support programs and educational
resources to facilitate the incorporation of medical cannabis into
health care regimens. MyMedi.ca also provides specialty services to
distinct patient groups such as veterans and collaborating with
public and private providers for adjudication and
reimbursement.
Click to watch Avicanna’s Corporate Video 2022
SOURCE Avicanna Inc.
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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 using words such as, “may”, “would”, “could”, “will”,
“likely”, “expect”, “anticipate”, “believe, “intend”, “plan”,
“forecast”, “project”, “estimate”, “outlook” and other similar
expressions. 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
March 31, 2023 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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