Khiron positioned to reach Mexican population
of over 120 million and market of 11.7 million potential patients
for medical cannabis (source: IMS Quintiles 2017)
TORONTO, Nov. 5, 2018 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN),
(OTCQB: KHRNF), (Frankfurt:
A2JMZC), an integrated medical cannabis company with its core
operations in Colombia, applauds
today's announcement by the Government of Mexico establishing guidelines for the
sanitary control of cannabis and its extracts. These guidelines,
which were announced today by the Federal Commission for the
Protection of Health Risks (COFEPRIS), establishes a framework for
the Government of Mexico to form a
licensed cannabis market for over 120 million residents of
Mexico.
In today's announcement made by Mr. Julio Sánchez y Tepóz,
Federal Commissioner of COFEPRIS, the commission laid out the key
components of the provision, medical and scientific research and
types of cannabis products. This is the regulatory development that
responds to the legislative change made by the Mexican
Congress.
Former Mexican President and Khiron board member Mr.
Vicente Fox stated, "With today's
announcement we are gradually seeing the move towards a much-needed
framework for legalized cannabis in Mexico. This is something I have long
advocated for; It's good for business, for health and importantly
for the social fabric of our country, which is why I applaud the
announcement today from Commissioner Julio
Sánchez y Tepóz."
Khiron has previously announced its intent to enter the Mexican
medical cannabis market, having conducted an in-depth regulatory
review of the country's medical cannabis legal landscape, a
comprehensive market-needs assessment indicating a potential
medical cannabis market of 9% of the country's population, and the
incorporation of a Mexican subsidiary to submit license
applications, subject to Toronto Stock Exchange approval. Moreover,
Khiron is working closely with Centro
Fox, a think tank that concentrates its efforts on creating
a new understanding about medical cannabis within the Mexican
patient and medical community.
Alvaro Torres, Cofounder and CEO
for Khiron stated, "Mexico
represents an important market opportunity for Khiron. We see
today's announcement as significant in progressing towards a fully
legalized cannabis market in the country. We have been studying the
market for some time and are positioned to educate doctors on the
benefits of medical cannabis and transfer our wealth of knowledge
into this new market."
Dr. Maria Fernanda Arboleda,
Khiron Medical Director stated, "I'm thrilled to attend this press
conference, which marks a historic day for Mexico. Through my experience as a Pain and
Palliative Care Physician and Researcher, I can say that patients
that suffer from specific diseases such as chronic pain, anxiety
and depression, among others, have the potential to benefit from
medical cannabis in the country".
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. (TSXV: KRHN, OTCQB: KHRNF,
Frankfurt: A2JMZC) ("Khiron" or
the "Company") is positioned to be the dominant integrated medical
cannabis company in Latin America.
Khiron has core operations in Colombia and is fully licensed in the country
for the cultivation, production, domestic distribution, and
international export of both tetrahydrocannabinol (THC) and
cannabidiol (CBD) medical cannabis. In May
2018, Khiron listed on the TSX Venture Exchange, becoming
one of the first Colombian based medical cannabis companies to
trade on any exchange globally.
With a focused regional strategy and patient oriented
approach, the Company combines global scientific expertise,
agricultural advantages, branded product market entrance
experience and education to drive prescription and brand
loyalty to address priority medical conditions such as chronic
pain, epilepsy, depression and anxiety in the Latin American
market of over 620 million people. Khiron is led by Co-founder and
Chief Executive Officer, Alvaro
Torres, together with an experienced executive team,
and a knowledgeable Board of Directors that includes former
President of Mexico, Vicente Fox.
Forward-Looking Statements
This press release may contain certain forward-looking
information and statements ("forward-looking information") within
the meaning of applicable Canadian securities legislation, that are
not based on historical fact, including without limitation
statements containing the words "believes", "anticipates", "plans",
"intends", "will", "should", "expects", "continue", "estimate",
"forecasts" and other similar expressions. Readers are cautioned to
not place undue reliance on forward-looking information. Actual
results and developments may differ materially from those
contemplated by these statements. Khiron undertakes no obligation
to comment analyses, expectations or statements made by
third-parties in respect of Khiron, its securities, or financial or
operating results (as applicable). Although Khiron believes that
the expectations reflected in forward-looking information in this
press release are reasonable, such forward-looking information has
been based on expectations, factors and assumptions concerning
future events which may prove to be inaccurate and are subject to
numerous risks and uncertainties, certain of which are beyond
Khiron's control, including the risk factors discussed in Khiron's
Filing Statement which is available on Khiron's SEDAR profile at
www.sedar.com. The forward-looking information contained in this
press release is expressly qualified by this cautionary statement
and are made as of the date hereof. Khiron disclaims any intention
and has no obligation or responsibility, except as required by law,
to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise.
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SOURCE Khiron Life Sciences Corp.