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 the launch of its medical cannabis program in Colombia,
under compound pharmacy legislation “Formulaciones Magistrales”, in
which Avicanna will provide its standardized, industry-leading
cannabinoid formulary to patients and the medical community.
Additionally, this program includes the education and training of
the medical community and a comprehensive patient support program.
Aras Azadian, CEO of Avicanna Inc., commented:
“After 2 years of preparation, we are proud to be launching this
complete program in a market that is very significant to us and to
be doing so with a medical community that we have been working
closely with for close to 3 years. We believe that this medical
program will set the gold standard for advanced cannabinoid-based
medicine in Colombia and will act as a proof of concept for planned
expansions into other Latin American markets.”
The pharmaceutical cannabinoid preparations,
which require physician prescription, will be commercialized
through a range of business models including direct sales to
patients, delivery to national pharmacies and delivery to third
party medical institutions across Colombia. This comprehensive
medical cannabis program is the first of its kind in Colombia to be
educating and training third party health care practitioners on the
efficacy of advanced cannabinoid-based medicine across various
clinical indications and comorbidities and providing appropriate
cannabinoid solutions. The target therapeutic areas include
neurological disorders such as epilepsy, Parkinson’s disease,
multiple sclerosis, psychiatric indications such as PTSD, anxiety,
depression as well as chronic pain.
This first complete portfolio of advanced
cannabinoid preparations comprises the same scientifically
developed formulations as Avicanna’s Canadian RHO Phyto branded
dosage forms including topicals, oil drops, sublingual sprays, and
capsules in range of CBD only and CBD-THC ratios. The products are
subjected to typical pharmaceutical drug development, including
stability studies and preclinical analysis where they have
demonstrated superior stability and bioavailability in comparison
to basic MCT oil formulations. Avicanna continues to advance these
formulations through real world evidence trials and further
preclinical studies with leading Canadian institutions and
clinicians. In addition to its R&D efforts, the Company
continues to optimize its current formulas and expand its pipeline
of products to include alternative delivery mechanisms. The active
pharmaceutical ingredients for this program are sourced from
Avicanna’s majority owned subsidiary Santa Marta Golden Hemp
S.A.S., where the cannabinoids are extracted from organic and
sustainably cultivated plants. The final preparation of these
products is completed through Avicanna’s own Good Production
Practices (GPP) certified pharmacy lab in Bogota through its wholly
owned subsidiary Avicanna LATAM S.A.S. (“Avicanna LATAM”), which is
believed to be the first of its kind to be certified for
cannabinoid preparations. The education and patient support
programs are also managed and operated by Avicanna’s medical team
to ensure the services meet Avicanna’s quality standards and
complete the full vertical integration.
“At Avicanna, our focus has always been on
patients, and today, with the launch of our medical program,
patients in Colombia will have access to therapeutic alternatives
that may contribute to the control of their comorbidities,
improving their quality of life and solving possible unmet medical
needs altogether. With that, we have established ourselves as a
significant contributor to the health system in Colombia, where we
intend to also introduce novel pharmaceutical forms and provide
optimal care,” stated Dr. Carlos Maldonado, Senior Vice President,
Clinical Development at Avicanna LATAM.
Avicanna’s educational program includes health
care practitioner (“HCP”) training packages, educational modules,
certifications, medical symposia and real-world evidence trials.
The goal of this educational program is to contribute to scientific
progress through evidence generation and to equip HCPs to provide
patients with optimal care. A timely component of the Company’s
educational program, its upcoming event titled Magisterial
Formulas: Advances in Cannabinoid Research, Product Offering and
Patient Access” on December 10, 2020 at 10am EST, will officially
kick off the nation program.
To register for the symposium please visit
https://www.bigmarker.com/avicanna-latam-s-a-s/Simposio-de-Avicanna-Colombia-Cannabis-Medicinal
For more information regarding the Magisterial Preparations
contact fm@avicanna.com.
About Avicanna Inc.
Avicanna is a diversified and vertically
integrated Canadian biopharmaceutical company focused on the
research, development, and commercialization of plant-derived
cannabinoid-based products for the global consumer, medical, and
pharmaceutical market segments.
Avicanna is an established leader in cannabinoid
research and development, which it primarily conducts at its
R&D headquarters in the Johnson & Johnson Innovation
Centre, JLABS @ Toronto, Canada and in collaboration with leading
Canadian academic and medical institutions. In addition to its
developing pharmaceutical pipeline, Avicanna’s team of experts have
developed and commercialized several industry leading product
lines, including:
-
Pura H&W™: an advanced and clinically tested line of CBD
consumer derma-cosmetic products; and,
- RHO Phyto™: an
advanced line of medical cannabis products containing varying
ratios of CBD and THC currently available nation-wide across Canada
in partnership with Medical Cannabis by Shoppers™, a subsidiary of
Shoppers Drug Mart. RHO Phyto is the first strictly medical
formulary of advanced “Cannabis 2.0” products, containing oils,
sprays, capsules, creams, and gels, all 2 developed with scientific
rigour, manufactured under GMP standards and supported by
pre-clinical data.
With ongoing clinical trials on its
derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a
pipeline of pharmaceutical products, Avicanna’s dedication to
researching the important role that cannabinoids play in an
increasingly wider scope of products has been at the core of the
Company’s vision since its inception. Furthermore, Avicanna’s
commitment to education is demonstrated through its annual medical
symposium, the Avicanna Academy educational platform, and the My
Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including
cultivation and extraction through its two majority-owned
subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp
S.A.S., both located in Santa Marta, Colombia. Through these
sustainable, economical, and industrial scale subsidiaries,
Avicanna cultivates, processes, and commercializes a range of
cannabis and hemp cultivars dominant in CBD, CBG, THC, and other
cannabinoids for use as active pharmaceutical ingredients.
Avicanna’s Avesta Genetica program specializes in the development
and optimization of rare cultivars for commercial production along
with feminized seeds for global export. In June 2020, Avicanna made
history with a shipment of hemp seeds to the United States of
America by completing the first ever export of hemp seeds from
Colombia.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit
www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit,
President by email at info@avicanna.com.
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
ability of the Company to provide the Colombian population with
standardized and advanced medical solutions, the ability of the
Company and Avicanna LATAM to manufacture its line of advanced
cannabinoid formulations to service individual prescriptions issued
by qualified medical professionals, the Company’s ability to set
the standard in Colombia and other Latin American countries by
offering products with years of extensive research and development
manufactured with world-class quality standards, the ability of the
unique formulations to maintain the stability of the cannabinoids
over the course of treatment, the ability of the Company to source
the cannabinoids for the manufacture of the medical cannabis
products from Santa Marta Golden Hemp S.A.S., the ability of the
product formulations to address specific medical conditions, and
the ability of Santa Marta Golden Hemp S.A.S. to continue to
cultivate cannabis. 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; and the availability of
licenses, approvals and permits.
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 April 15, 2020 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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