- Company surpasses 1,000 medical cannabis patient prescriptions
in Colombia in the first 10 weeks
of sales activity, representing a milestone towards meeting patient
needs in Latin America and
globally
- Company prudently managing financial resources through reduced
expenses and held approximately $20
Million in cash at the end of June
2020, after closing Q1 with $24
Million and Q4 2019 with $36
Million
- Received authorization for the sale of magistral preparation of
high-THC medical cannabis in Colombia, and as a result Khiron is the first
and only company to manufacture and sell high-THC medical cannabis
for patient prescriptions in Colombia
- Telehealth platform accounting for 55% of scripts to date,
including 25% from outside of Bogota, expanding geographic presence of its
Colombian clinics
- Launched Doctor Zerenia in Colombia, a state-of-the-art, fully integrated
telehealth portal offering patients and doctors a seamless online
clinic experience
- Entered the Peru market with
all necessary licenses and authorizations allowing full spectrum,
high-CBD medical cannabis products to be exported from Colombia for import and commercialization in
Peru. First scripts anticipated to
be filled in Q3 2020
- Entered the German medical cannabis market with first import
and sales of Khiron branded EU GMP medical cannabis products
expected in Q3 2020
- Received first medical cannabis prescriptions for UK patients
participating in Project Twenty21
TORONTO, July 27, 2020 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN), (OTCQX: KHRNF),
(Frankfurt: A2JMZC), a vertically
integrated cannabis leader with core operations in Latin America and Europe, is pleased to
provide a corporate update on its commercial operations ahead of Q2
earnings which will be announced on August
24th 2020. The update reflects the Company's
revenue generation activities and continued position as the only
company with medical cannabis sales in Colombia.
"Through our branded clinics in Colombia, third-party pharmacies, educations
programs, and expanded global markets we are fully focused on
revenue generation and meeting patient needs in Latin America and globally. We continue our
competitive advantage in Colombia
as the only company in the country that is dispensing medical
cannabis to patients, and I am pleased to report that we have now
surpassed our first 1,000 medical cannabis patient prescription
milestone in just the first 10 weeks since we began sales activity.
This, despite a global pandemic that has impacted world economies,
represents a very important achievement for us," comments
Alvaro Torres, Khiron CEO and
director.
"Throughout the COVID-19 crisis we have been prudently managing
our financial resources through reduced expenses and held
approximately $20 Million in cash at
the end of June 2020, allowing us to
continue to deliver on our objectives in Colombia, and grow international activity,"
continues Torres.
Key Company highlights across its business units, including;
Khiron Med
- In March 2020, Khiron was the
first company to receive all authorizations for the sale of medical
cannabis in Colombia. To the
Company knowledge, Khiron remains the only company authorized to
sell both High and Low THC magistral formulations in Colombia
- Surpassed 1,000 patient prescriptions for Khiron medical
cannabis products in Colombia,
representing a significant milestone in leveraging the Company's
commercial assets and generating product revenues
- Received all necessary licenses and authorizations allowing
full spectrum, high-CBD medical cannabis products to be exported
from Colombia for import and
commercialization in Peru. First
scripts are anticipated in Q3 2020
- Signed distribution deal with Nimbus Health, a leading medical
cannabis distributor, for the import and sale of Khiron branded
medical cannabis products in Germany. First scripts are anticipated in Q3
2020
- Received first medical cannabis prescriptions for patients
participating in Project Twenty21 in the UK. Khiron branded EU GMP
medical cannabis is now available for prescription from doctors and
clinics participating in Project Twenty21, Europe's largest study of the effectiveness
and tolerability of medical cannabis
Khiron Health
- Launched Doctor Zerenia web platform in Colombia, a state-of-the-art, fully integrated
telehealth portal that leverages the Zerenia clinic brand, offering
patients and doctors a more seamless experience applicable
- Telehealth services introduced on April
1st, with teleconsultations growing to represent
more than 14% of total June 2020
consults. An enhanced web platform, and accompanying mobile app to
be launched in Q3 2020 will further increase the clinic's digital
presence and reduce the need for patient mobility
- Telehealth channel has accounted for more than 55% of total
scripts to date. In addition, more than 25% of medical cannabis
scripts have been prescribed to patients outside Bogota, expanding the geographic presence of
the Company's clinics
"Telehealth has been instrumental in expanding access to care at
a time when the pandemic has restricted patient's ability to see
their doctors. At Khiron we take the role of technology in
increasing patient adoption very seriously and we will keep on
improving our systems to provide patients with a seamless
experience in Colombia and the
countries where we have a presence," comments Torres.
A recording of the recent Zerenia virtual tour with CEO
Alvaro Torres can be viewed here:
https://bit.ly/32YqsSO
Cost Management
- With prudent management of financial resources through reduced
expenses the Company held approximately $20
Million in cash at the end of June
2020
- Significant reduction in expenses follows closing Q4 2019 with
cash of $36 Million and Q1 2020 with
$24 Million
- Company remains capitalized to deliver on its objectives in
Colombia and international growth
strategy
Khiron will release its Q2 earnings on August 24, 2020.
About Khiron Life Sciences Corp.
Khiron is a
vertically integrated medical and CPG cannabis company with core
operations in Latin America, and
operational activity in Europe and
North America. Khiron is the leading cannabis company in
Colombia and the first company
licensed in Colombia for the
cultivation, production, domestic distribution, and international
export of both low and high THC medical cannabis products. The
Company has presence in Mexico,
Peru, Uruguay, Brazil, UK, Spain and Germany, where it is positioned to begin sales
of medical cannabis.
Leveraging its first-mover advantage, and patient oriented
approach, Khiron combines global scientific expertise, product
innovation, agricultural infrastructure, wholly-owned medical
clinics, and online doctor education programs to drive prescription
and brand loyalty to address priority medical conditions. Its
Wellbeing unit launched the first branded CBD skincare brand in
Colombia, with KuidaTM
now marketed in multiple jurisdictions in Latin America, the US and UK. The Company is
led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and
diverse executive team and Board of Directors.
Visit Khiron online at www.khiron.ca, investors.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 on
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 is 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.
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.