Latam: Colombia
- As of October 31, Khiron reached
more than 4,600 medical cannabis prescriptions filled
- With more than 1,300 prescriptions filled in October, this
represents greater than 130% growth over the July monthly and daily
prescription rates
- Total monthly patient consultations at Khiron clinics in
October far exceeded pre-pandemic levels in February 2020, surpassing 9,500 monthly
consultations. In Q2, the Company had experienced a significant
drop due to the pandemic with 4,500 patient consultations in
April
- Monthly patient attentions have increased significantly in the
past 5 months, in part due to the Company's increased focus on
telehealth, which accounts for 15% of patient consultations since
launch
Latam: Peru
- Achieved first medical cannabis sales in Peru through 22 prescribing doctors, and with
the first 4-week sales surpassing the initial monthly Colombia rate
- Successfully achieved DIGEMID approval to introduce THC product
to the Peru market, with first
sales anticipated in Q4,2020
- Khiron's Latam doctor education continues to grow with 210
doctors trained in Colombia and 85
in Peru, supporting patient
prescription demand
- Khiron welcomes the recent Uruguay government announcement to promote
medical cannabis, an important advancement as the Company prepares
for expansion into Brazil
Financial
- Company maintains a strong cash position at the end of Q3, 2020
of CAN$14.7 million, with continued prudent expense management
- Company anticipates steady, quarter on quarter revenue growth,
subject to market conditions
TORONTO, Nov. 2, 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 global medical cannabis operations, including
accelerating sales growth in Colombia and first sales in Peru. The Company also reports a strong cash
position of CAN$14.7 million at the end of Q3, 2020.
"We are seeing the positive impact of our highly focused sales
model in the key Latam markets of Colombia and Peru with targeted strategies for
distribution, education and patient growth. With prudent cash
management, we are leveraging our experience in Colombia, together with the adoption of timely
digital tools, and as a result are achieving increasing sales
activity in the Colombian market and positive rates of initial
sales in Peru," comments
Alvaro Torres, Khiron CEO and
Director.
"We never lose sight of our mission to improve the quality of
patients' lives, especially during this global pandemic, and so
patient satisfaction is an important metric for us. We have been
growing in patient prescriptions on a daily basis, despite the fact
that COVID-19 cases have increased dramatically since March 2020. This demonstrates the global demand
for medical cannabis which, leveraged with the use of technology
such as telehealth, can help to improve the quality of people's
lives. We are very positive on what the future holds for our
Company and how we will keep bringing our medical cannabis
know-how, clinic approach and telehealth solutions to become
leaders in the nascent international medical cannabis industry,"
continues Alvaro Torres.
Webcast and Q&A
Khiron invites individual and
institutional investors, as well as advisors and analysts, to
attend a webcast and Q&A to discuss the Company's corporate
update.
DATE: Monday, November 9,
2020
TIME: 9:00am EST/6:00am PST
PRESENTERS: Alvaro Torres,
Khiron CEO and Director, Tejinder
Virk, Khiron Europe President, and Chris Naprawa,
Khiron Chairman
FORMAT: Live 20 minutes presentation and Q&A session
REGISTER LINK:
https://event.on24.com/wcc/r/2819768/9328DB919FFBB024F2CF5F4F5119285E
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 sales, and international
export of both low and high THC medical cannabis products. The
Company has filled medical cannabis prescriptions in Peru and has a presence in Mexico, Uruguay, UK, Spain and also in 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 Kuida™
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 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.