Avicanna Enters into an Intellectual Property Licensing and Distribution Agreement with Established Pharmaceutical Company in Argentina
30 November 2021 - 01:30PM
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, is pleased to announce that it has
entered into a partnership with an established Argentine
pharmaceutical company to register and commercialize Avicanna’s
proprietary cannabinoid-based pharmaceutical preparations through
the licensing of its intellectual property and supply of its active
pharmaceutical ingredients (“API”).
Through the partnership Avicanna will provide a
non-exclusive license of the Company’s intellectual property
related to its proprietary 10% cannabidiol (“CBD”) pharmaceutical
drug preparation. Additionally, the partner will source its
pharmaceutical-grade CBD exclusively from Avicanna to manufacture
the product for the registration and marketing authorization with
the Argentine regulatory agency ANMAT.
The marketing authorization of the
pharmaceutical preparation is expected to be approved during the
second half of 2022 and is expected to be supported with claims
related to treatment of epilepsy. The estimated patient population
and market potential for epilepsy in Argentina is between 400,000
to 500,000 patients of which about 20,000 patients have refractory
epilepsy. “We look forward to entering the Argentine market through
a pharmaceutical pathway and to be doing so by delivering our
proprietary formulations as solution to patients with unmet medical
needs. We are rapidly expanding into the region with innovative and
accessible cannabinoid-based pharmaceutical products and are doing
so through partnership with reputable industry leaders,” stated
Lucas Nosiglia, President of Avicanna LATAM.
Sources:https://www.lace.org.ar/aprendiendo_sobre_la_epilepsia.html
https://www.infobae.com/salud/2020/08/12/en-argentina-se-realiza-la-unica-cirugia-de-estimulacion-cerebral-profunda-para-epilepsia-refractaria-de-toda-latinoamerica/
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 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. 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, derma-cosmetic 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 Company’s ability to register and commercialize its
cannabinoid-based pharmaceutical preparations, expectations
regarding the timing of the anticipated marketing authorization of
the pharmaceutical preparation, the Company’s ability to register
and get the necessary regulatory approvals in certain jurisdictions
for its proprietary 10% CBD pharmaceutical drug that will be
targeted for the treatment of epilepsy, whether claims related to
treatment of epilepsy will be supported, and the Company’s plans
for expansion into Argentina. 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, the availability of licenses, approvals and permits,
and the utility and application of certain drugs and products.
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.
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