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 through its majority owned subsidiary Santa Marta Golden Hemp (“SMGH”) the company has entered into a Master Supply Agreement with established Chilean pharmaceutical company Knop Laboratorios S.A. (“Knop”) to supply a range of cannabinoid-based active pharmaceutical ingredients (“API”) for the manufacturing, and commercialization of proprietary cannabinoid-based pharmaceutical products in Latin America.
Since 2018, Avicanna and Knop have developed a collaborative enterprise which has led to commercial imports of Avicanna´s API, including CBD and THC, which has been used in the development, production and commercialization of several cannabinoid-based products. Through this Master Supply Agreement between SMGH and Knop the two companies are further fortifying their commitments to a fruitful partnership and preparing for industrialization of Knop’s cannabinoid-based pharmaceuticals manufactured using Avicanna’s organic, sustainable inputs.
About Knop Laboratorios S.A.
Knop Laboratorios S.A. is a Chilean pharmaceutical company and pioneer in herbal medicine with more than 90 years of experience in the field and active presence in several Latin American countries including Chile, Ecuador, Colombia, Bolivia, Paraguay, and Peru. With a GMP certified plant located in Quilpué, Chile, Knop Laboratorios serves its markets with high-quality pharmaceutical products. Knop has a wide portfolio of registered products, including Cannabiol®, a cannabinoid-based product already registered in Perú, and its own commercial infrastructure including strategic partnerships with 80+ “Knop Pharmacies” in Chile. In 2021, Knop opened the first R&D Center in Chile for phytomedicines and active ingredients of natural origin.Knop is carrying out various Clinical Studies for their cannabinoid-based products, with authorization from the appropriate health authorities.
“We are happy to announce the fortification of our partnership with Knop and further expand into the Chilean market through our active pharmaceutical ingredient (API) offerings with an established pharmaceutical leader and pioneer in the cannabinoid sector in Chile. Over the past few years, we have worked closely together and are thrilled about the potential of what the two companies can accomplish jointly in the emerging medical and pharmaceutical industry, of the Southern Cone of Latin America.”
- Lucas Nosiglia, President of Avicanna LATAM.
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:
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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.
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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.
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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.
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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.