Collaboration will initially see launch of a
new CBD lozenge from Cogent International, a Vectura Fertin Pharma
subsidiary, on Aurora's Canadian medical cannabis patient
platform
Following successful launch of CBD lozenge,
the collaboration will explore the potential to launch Vectura
Fertin Pharma's future medical cannabis portfolio in Canada
EDMONTON, AB, and STAMFORD, Conn., Aug. 1, 2024
/PRNewswire/ - Aurora Cannabis Inc. ("Aurora") (NASDAQ: ACB)
(TSX: ACB), a leading Canadian-based global medical cannabis
company, and Vectura Fertin Pharma, Inc., an innovator in wellness
and healthcare, are pleased to announce that Aurora has entered
into a commercial collaboration with Cogent International
Manufacturing Ltd. ("Cogent"), a wholly-owned subsidiary of
Vectura Fertin Pharma Inc. Through this arrangement, Cogent will
initially launch its newly developed CBD lozenge on Aurora's
Canadian medical cannabis patient platform, giving access to
patient feedback which will be used to validate the product
proposition and patient responses to the product while building
real-world patient data for future analysis. Following the
successful launch of the CBD lozenge, the two companies may explore
opportunities regarding the potential commercialization of other
Vectura Fertin Pharma medical cannabis products in Canada.
"We are excited about this commercial collaboration that will
allow Aurora to leverage its industry-leading patient platform in
Canada to support advancements in
medical cannabis, as well as to provide our patients with access to
Vectura Fertin Pharma's new CBD lozenge," said Miguel Martin, CEO for Aurora. "As a global
leader in the manufacturing of pharmaceutical-grade medical
cannabis, we are pleased to see increased interest in the
possibilities of medical cannabis as part of healthcare options
made available to Canadians."
Michael Kunst, CEO for Vectura
Fertin Pharma, said: "At Vectura Fertin Pharma, we are committed to
building a pipeline of innovation, based on scientific rigor, to
improve unmet medical and health needs. We are delighted to be
working with the Aurora team who share our high standards for
safety and quality, and our strong focus on improving people's
lives. Through this strategic collaboration, the Aurora platform
will enable us to bring our new CBD lozenge, as prescribed by a
healthcare professional, to the largest patient base in
Canada, and to both study its
impact and validate the product proposition through the generation
of real-world patient data."
Select Agreement Details
The agreement between Aurora and Cogent is expected to have an
initial term of 24 months, with a target of launching CBD
containing products on Aurora's Canadian medical cannabis
marketplace, starting with a CBD lozenge. The products will be
manufactured, packaged and labelled by Cogent for sale and
distribution by Aurora through its leading direct-to-patient
e-commerce sales channel, requiring minimal additional capital
investment by Aurora. The expected launch of the first SKU in
market is targeted for later in 2024.
About Aurora Cannabis
Aurora is opening the world to cannabis, serving both the
medical and consumer markets
across Canada, Europe, Australia and South America. Headquartered
in Edmonton, Alberta, Aurora is a
pioneer in global cannabis, dedicated to helping people improve
their lives. The Company's adult- use brand portfolio includes
Aurora Drift, San Rafael '71, Daily Special, Tasty's, Being and
Greybeard. Medical cannabis brands include MedReleaf, CanniMed,
Aurora and Whistler Medical Marijuana Co, as well as international
brands, Pedanios, Bidiol, IndiMed and CraftPlant. Aurora also has a
controlling interest in Bevo Farms Ltd., North America's leading
supplier of propagated agricultural plants. Driven by science and
innovation, and with a focus on high-quality cannabis products,
Aurora's brands continue to break through as industry leaders in
the medical, wellness and adult recreational markets wherever they
are launched. Learn more at www.auroramj.com and follow us on X and
LinkedIn.
Aurora's common shares trade on the NASDAQ and TSX under the
symbol "ACB".
About Vectura Fertin Pharma
At Vectura Fertin Pharma, we are developing and commercializing
a proprietary pipeline of differentiated products and brands in
wellness and healthcare that address unmet patient and consumer
needs. We have unique R&D capabilities in inhaled and oral
technology, which we are applying across four key areas:
Cannabinoids, Inhaled Therapeutics, Nicotine Replacement Therapy
and Consumer Health. Underpinned by scientific rigor, and patient
and consumer insights, we are passionate about finding new and
better ways to help people take care of their health and wellbeing.
Vectura Fertin Pharma was formed in March
2022 following the acquisition of Fertin Pharma, Vectura
Group PLC and OtiTopic by Philip Morris International. For more
information, visit www.vecturafertinpharma.com or
LinkedIn.
Forward Looking Information
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements made in this news
release include statements regarding the Company's
commercialization collaboration with Cogent, which include, but are
not limited to, those statements under the heading "Select
Agreement Details", statements related to the launch of Cogent's
newly-developed CBD lozenge on Aurora's Canadian medical cannabis
patient platform, the potential to launch Vectura Fertin
Pharma's future medical cannabis portfolio, the Company's ability
to support advancements in medical cannabis and to provide its
patients with access to new products, the ability for Vectura
Fertin Pharma to study the efficacy and other patient responses to
the product while building real-world patient data for future
analysis, and increased interest in the possibilities of medical
cannabis.
These forward-looking statements are only predictions. Forward
looking information or statements contained in this news release
have been developed based on assumptions management considers to be
reasonable. Material factors or assumptions involved in developing
forward-looking statements include, without limitation, publicly
available information from governmental sources as well as from
market research and industry analysis and on assumptions based on
data and knowledge of this industry which the Company believes to
be reasonable. Forward-looking statements are subject to a variety
of risks, uncertainties and other factors that management believes
to be relevant and reasonable in the circumstances could cause
actual events, results, level of activity, performance, prospects,
opportunities or achievements to differ materially from those
projected in the forward-looking statements. These risks include,
but are not limited to, the ability to retain key personnel, the
ability to continue investing in infrastructure to support growth,
the ability to obtain financing on acceptable terms, the continued
quality of our products, customer experience and retention, the
development of third party government and nongovernment consumer
sales channels, management's estimates of consumer demand in
Canada and in jurisdictions where
the Company exports, expectations of future results and expenses,
the risk of successful integration of acquired business and
operations, management's estimation that SG&A will grow only in
proportion of revenue growth, the ability to expand and maintain
distribution capabilities, the impact of competition, the general
impact of financial market conditions, the yield from cannabis
growing operations, product demand, changes in prices of required
commodities, competition, and the possibility for changes in laws,
rules, and regulations in the industry, epidemics, pandemics or
other public health crises, and other risks, uncertainties and
factors set out under the heading "Risk Factors" in the Company's
annual information form dated June 20,
2024 (the "AIF") and filed with Canadian securities
regulators available on the Company's issuer profile on SEDAR at
www.sedarplus.com and filed with and available on the SEC's website
at www.sec.gov. The Company cautions that the list of risks,
uncertainties and other factors described in the AIF is not
exhaustive and other factors could also adversely affect its
results. Readers are urged to consider the risks, uncertainties and
assumptions carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such information.
The Company is under no obligation, and expressly disclaims any
intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
law.
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SOURCE Aurora Cannabis Inc.