- Signed a 2-year exclusive agreement to manufacture and
distribute Khiron-branded medical cannabis products in Lima, Peru´s largest city with 8.6 million
inhabitants
- With 10 locations in Lima,
Farmacia Universal S.A.C. is an established magistral formulation
laboratory and pharmacy
- Khiron Perú SA has already obtained certifications as a
Pharmaceutical Entity with Good Storage Practices (GSP), a crucial
prerequisite for import and commercialization license applications
in Peru
- The Company obtained approval of its security protocols from
the Anti-Narcotics Unit of the Ministry of Interior (DIRANDRO)
in December 2019, and subsequently
submitted its application for import license for medical
cannabis
- Khiron recently announced high-THC cultivation and
manufacturing quotas in Colombia
and intends to ship high-THC branded medical products to
Peru
- With a population of 32 million, Peru's medical cannabis market is estimated to
be worth $99 million (Prohibition
Partners)
TORONTO, March 5, 2020 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF),
(Frankfurt: A2JMZC), a vertically
integrated cannabis leader with core operations in Latin America, today announced the Company has
entered into an exclusive 2-year agreement with Farmacia Universal
S.A.C. of Perú, a leading pharmacy chain and manufacturing
laboratory based in Lima, to
manufacture and distribute Khiron-branded medical cannabis
magistral preparations in Perú.
In Peru, only registered
pharmaceutical establishments who have fulfilled GSP requirements
are authorized to participate in wholesale import and
commercialization of cannabis products. Khiron currently holds the
necessary license that certifies the Company as a registered
pharmaceutical establishment and is one of the first cannabis
companies in the country to have received GSP certification from
Peru's Directorate General of Drug
Supplies and Drugs (DIGEMID). The Company expects to begin sales in
Peru once it obtains its import
license from DIGEMID and Farmacia Universal S.A.C. receives
authorization for commercialization from DIGEMID.
"Khiron is currently the only Colombian Company with high-THC
quotas for export purposes, including into Peru, and considers the country one of the key
medical cannabis markets in Latam. Based on our regulatory
expertise, Khiron has demonstrated an ability to work with the
Peruvian regulatory framework and believes that it will be
successful in securing additional permits." Comments Andres Galofre, Khiron VP, Business Development.
"Our clinics, with 120,000 patients, provide a model we can
replicate in different jurisdictions, including Peru, subject to their regulatory
framework."
About Farmacia Universal
Founded in 1934,
Farmacia Universal S.A.C. (in English: Universal Pharmacy), is a
well-known Peruvian pharmacy chain, based in Lima. Farmacia Universal S.A.C. has 10 well
distributed point of sales, and is a leader in the
pharmaceutical preparations sector in Perú.
Farmacia Universal S.A.C. also sells pharmaceutical, surgical
and orthopedics products, among others, differentiating its brand
with premium service to customers and patients. CEO, Dolores Guevara, has being recognized as one of
the LEC (business leaders of change) in Perú, awarded by EY, El
Comercio & ASBANC.
About Khiron Life Sciences Corp.
Khiron Life Sciences
Corp. is positioned to be the dominant integrated cannabis company
in Latin America. Khiron has core
operations in Latin America and is
fully licensed in Colombia for the
cultivation, production, domestic distribution, and international
export of both tetrahydrocannabinol (THC) and cannabidiol (CBD)
medical cannabis. The company delivers best in class regulatory
compliance, has the first approved set of CBD cosmetic products on
shelf in Colombia, and is currently facilitating testing to
meet and surpass all license requirements for commercial cannabis
derived products.
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. The Company 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.
Visit Khiron online at www.khiron.ca and on Instagram
@khironlife
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking
information" and "forward-looking statements" within the meaning of
applicable securities legislation. All information contained herein
that is not historical in nature may constitute forward-looking
information. 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 statements in this press release are
reasonable, such forward-looking statement 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 Annual Information
Form 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.
United States Disclaimer
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities
in the United States. The securities have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the
United States or to U.S. Persons
(as such term is defined in Regulation S under the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is
available
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
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SOURCE Khiron Life Sciences Corp.