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 it has
expanded its previously announced R&D collaboration with
Bio-Gate AG (“Bio-Gate”) with a 5-year exclusive distribution
agreement for Pura H&W branded CBD derma-cosmetics.
Avicanna and Bio-Gate are expanding their
existing research collaboration with the commercial distribution of
Avicanna’s evidence-based derma-cosmetic line Pura H&W into the
European Market. The initial focus of the launch is the
German-speaking regions of the continent including Germany, Austria
and Switzerland, where Bio-Gate has an established distribution
network of pharmacies and retail channels. In addition, Bio-Gate
has the right to select 3 additional European countries for
exclusive distribution within the first 12 months of the
agreement.
“We are very pleased to launch the Pura
H&W™ product line from Avicanna, a leader in the
cannabidiol (CBD) market, in the European market. We are convinced
that the Pura product line is an ideal extension to our product
portfolio for our dermatology division. We are looking forward to a
successful cooperation,” commented Marc Lloret-Grau, CEO
of Bio-Gate AG.
“We are thrilled to expand Pura H&W into the
European market where we believe that it is well positioned as a
clinically backed over the counter cosmetic line. We are also happy
to be expanding our strategic partnership with Bio-Gate AG and
accessing their experience and proven distribution channels in the
region,” commented Aras Azadian, CEO, Avicanna.
With retail sales valued at EUR 76.7 billion in
20201, the European cosmetics and personal care market is the
largest market for cosmetic products in the world. In Europe,
Germany has the highest consumption value for beauty and personal
care products and its per capita annual spending on cosmetics is
relatively high at EUR 153/year, with high interest in premium
cosmetics.
Pura H&W Portfolio for The European
Union
The derma-cosmetic products are registered at
the cosmetic products notification portal (CPNP) which allows them
to be commercialized over the counter as cosmetic products in every
jurisdiction within the European Union.
Derma-Cosmetic Clinical
Studies
Three cosmetic clinical studies were completed
on Avicanna’s Pura H&W 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.
To the knowledge of the Company, it carries out
its operations in compliance with all applicable laws in the
jurisdictions in which it operates.
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, 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.
1 Cosmetic Europe
https://cosmeticseurope.eu/cosmetics-industry/
About Bio-Gate AG
Bio-Gate AG is a health technology company and a
leading provider of innovative technologies and products for
health, infection control and hygiene that can make living together
safer and healthier, and improve the well-being of each individual.
Bio-Gate specializes in providing materials and surfaces with
antiviral, antimicrobial or biologically active properties.
Bio-Gate AG enhances materials and products, particularly in the
field of medical technology, for example in the coating of implants
or wound dressings. In addition, Bio-Gate technologies are used in
dermatological active cosmetics and wound care products, as well as
consumer and industrial products.
About Avicanna Inc.
Avicanna is an innovative, commercial-stage, and
international biopharmaceutical company focused on the development,
advancement, and commercialization of evidence-based
cannabinoid-based products for the global consumer, as well as
medical and pharmaceutical market segments. In leading global
cannabinoid advancements, 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 that has led to the
commercialization of more than thirty products across four main
market segments:
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.
Medical Cannabis & Wellness
Products: Marketed under the RHO Phyto™ brand these
medical and wellness products are an advanced line of
pharmaceutical-grade cannabinoid 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.
Pharmaceutical Pipeline:
Leveraging Avicanna’s scientific platform, vertical integration,
and real-world evidence, Avicanna has created a pipeline of
patent-pending drug candidates that 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.
Cannabinoid Raw Materials:
Marketed under the Aureus™ brand, the Company’s raw material
business has successfully completed sales to 12 countries. Aureus™
offers cannabis dried flower, standardized seeds, full-spectrum
extracts, and cannabinoid distillates, isolated cannabinoids such
as CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids.
Aureus™ products are produced at Santa Marta Golden Hemp S.A.S, the
Company’s majority-owned subsidiary in Colombia, which is also 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 news 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. Forward-looking information contained in this
news release includes, without limitation, statements related to
anticipated financial and/or operational results and outlook,
including projected revenues, projected sales growth, anticipated
expansion of product listings, the Company’s anticipated
application of its products, projected growth, anticipated
geographical expansion, receipt of authorizations and regulatory
approvals, success of clinical trials, scientific advancements and
developments, successful commercialization of products, the
Company’s our priorities, goals and strategies, industry trends and
their anticipated impact, the anticipated impact of current market
conditions on each of our segments and near term expectations,
components and supply chain constraints, and the Company’s
financial statement estimates and assumptions. 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 news 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/14bbf744-e652-4c71-9a2c-937957b85ed0
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