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 pharmaceuticals, is pleased to announce the brand
launch and commercialization of its proprietary and clinically
backed derma-cosmetics brand, Pura H&W, through its exclusive
partnership with Red White and Bloom (CSE: RWB).
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a99e4506-ae98-440d-8190-2ffed5f9fe35
This marks the fourth country in which
Avicanna’s derma-cosmetic products branded as Pura H&W or Pura
Earth have commercialized, including Colombia and Ecuador as well
as Canada where the products are available through medical and
adult use channels.
“This marks the first major market for the brand
where the products will be accessible to consumers over the counter
and nationwide. We are optimistic about the launch of Pura in the
United States where we believe the clinically-backed and functional
products will be highly differentiated and well supported by our
strategic partners Red White and Bloom and their US commercial
infrastructure,” commented Aras Azadian, CEO, Avicanna.
The US beauty industry continues to grow rapidly
and innovative trends, such as the introduction of
cannabinoid-based cosmetics, are expected to provide a strong
market opportunity. The launch of the proprietary and
clinically-backed cannabidiol (“CBD”) product line
will leverage the growing use of online platforms for shopping
including Pura H&W’s own e-commerce platform
https://www.purahw.com/ in addition to third party e-commerce
channels, “big box” retailers and Red White and Bloom’s existing
cannabis retail infrastructure across the United States.
“We are excited to launch the Pura brand in the
US. As the first clinically tested line in CBD cosmetics, the
reaction from our stores and retail partners has been exciting and
this is strategically aligned with our goal to be the most
recognized and responsible multi state operator (MSO) in the
market. We look forward to scaling the launch quickly in both our
physical and digital channels,” said Brad Rogers, CEO of Red White
& Bloom.
Pura H&W U.S. Portfolio
The skincare line includes seven topical SKUs,
three of which are available for purchase online now and for more
that are expected to be available imminently.
Anti-Aging Serum: This emulsion
gel combines CBD with stem cells from a rare variety of Swiss apple
to deliver powerful ingredients to the skin. This refreshing and
fast absorbing formula maximizes results for bouncy, glowing
skin.
Cooling Body Gel: This go-to
essential combines CBD & cannabigerol (“CBG”)
with menthol, clove oil and other unique ingredients and natural
polyphenols in an advanced emulsion formulation. This non-greasy
formula is ideal for those moments when you need to cool and calm
areas after physical activity.
Brightening Facial Oil: Made
with a blend of natural oils including CBD, Marula, Squalene,
Pomegranate and Rosehip, this silky-smooth formula leaves skin
looking dewy and revitalized. Light notes of vanilla and limonene
refresh the senses.
Anti-Aging Cream: Keeping the
skin moisturized and locking in hydration, helps against
environmental and natural stressors, and visibly enhances texture.
This luxurious combination of CBD and Japanese cedar bud extract
floods the skin with moisture to visibly improve natural lifting,
toning and smoothing effects.
Intensive Moisturizing Cream:
With the hustle and bustle of everyday life, the skin is constantly
under assault by stress, pollution, and the environment. These
factors can trigger extreme effects which may include the
appearance of redness and flaking. This rich combination of CBD and
colloidal oatmeal helps soothe extremely dry skin.
Clear Skin Gel: Skin problems
due to routine breakouts affect almost all age groups and can occur
when hair follicles become blocked by excess oil or dead skin
cells. This formulation combining CBD with rosemary extract, tea
tree oil and other key ingredients helps to remove oil and provide
fresher looking skin.
Skin Protecting Face Lotion
(Night): Our overnight cream combines CBD, pro-retinol,
and vitamin E, which work together to hydrate the skin while you
rest. This smooth formulation helps to boost your skin’s radiance
and reduces visible signs of aging.
Clinical Studies
Three cosmetic clinical studies were completed
on Avicanna’s [above noted] formulations targeting cosmetic factors
associated with aging, acne-prone skin, and eczema-prone skin. The
successfully completed studies involved 156 patients that were
tested for safety and specific derma-cosmetic endpoints, including
hydration and excess oil production. All three studies achieved
positive results in the endpoints with no adverse effects, making
Pura H&W one of the only cannabinoid consumer lines with human
safety and efficacy data. For more information please see
www.Clinicaltrials.gov Registry.
About Pura H&W
Pura Health & Wellness (Pura H&W) is
Avicanna’s derma-cosmetic line which utilizes a combination of
purified CBD and other synergistic botanical ingredients designed
to naturally regulate and nourish the skin. The Pura H&W
product line was developed by Avicanna and specific products have
undergone clinical trials. The products are now commercial under
Pura H&W or Pura Earth in Canada, Colombia Ecuador and the
U.S.
The Pura H&W formulations have been
developed and optimized to deliver purified, THC-free CBD in
synergistic combinations with other natural ingredients known to
provide specific functional benefits in skincare. CBD has been
shown to promote skin health by inducing antioxidant,
anti-inflammatory, and anti-apoptotic responses that could be
beneficial for a variety of dermatological conditions such as
eczema or atopic dermatitis. In addition, CBD can down-regulate the
activity of cells that are critical in the production of skin oils
and therefore may dampen the production in acne-prone skin.
About Red White & Bloom Brands
Inc.
Red White & Bloom is positioning itself to
be one of the top three multi-state cannabis operators active in
the U.S. legal cannabis and hemp sector. Red White & Bloom is
predominately focusing its investments on the major US markets,
including Michigan, Illinois, California, and Florida with respect
to cannabis, and the US and internationally for hemp-based CBD
products.
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 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.
- 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, 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 on LinkedIn, Twitter, Facebook or Instagram.
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, without limitation, statements
with respect to the Company’s anticipated growth plans, anticipated
market opportunities as a result of the introduction of
cannabinoid-based cosmetics, and the anticipated timing of
additional products available for purchase. 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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