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Avicanna Inc
Symbol AVCN
Shares Issued 41,271,574
Close 2021-06-11 C$ 1.08
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Avicanna completes initial product development

2021-06-29 11:24 ET - News Release

Mr. Aras Azadian reports


Avicanna Inc. has completed the initial development phase for prospective products through a licensing and development agreement with Bio-Gate AG, a German biomedical company with a focus on health technologies such as cosmetics and dermatology products.

As part of the collaboration, Bio-Gate is developing active cosmetic and dermatology products, in collaboration with Avicanna, that combine MicroSilver BG and hemp-derived CBD (cannabidiol). Bio-Gate and Avicanna hope to discover that the combination of MicroSilver BG and hemp-derived CBD will have synergistic anti-inflammatory and anti-bacterial effects. Following the development and in vitro studies, Bio-Gate and Avicanna aim to have the products available for human applications and further studies of target indications, including acne, eczema and atopic dermatitis. Avicanna and Bio-Gate intend to initially market the products in Europe and North America.

Marc Lloret-Grau, chief executive officer of Bio-Gate, commented on the new co-operation: "We are delighted to have Avicanna as our strategic partner as a leading cannabinoid biopharmaceutical company that focuses on cosmetics, skin care and medical-ased product applications. The collaboration represents a bridge for Bio-Gate to further new technologies. We are once again expanding our product range and thus tapping into a new and extremely high-growth market."

Aras Azadian, chief executive officer of Avicanna, stated: "We are thrilled to announce our partnership and achievement of our initial milestones with Bio-Gate, a European biomedical company with [a] focus on health technologies like dermatology and skin care. We are also optimistic about the potential combination of Avicanna's intellectual property with that of Bio-Gate's in addition to the market access and expertise that the two companies can provide in this collaboration."

About Avicanna Inc.

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived, cannabinoid-based products for the global consumer, medical and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D (research and development) headquarters in the Johnson & Johnson innovation centre JLABS @ Toronto, Canada, and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna's team of experts has developed and commercialized several industry-leading product lines, including:

  • Pura Earth or Pura H&W -- an advanced and clinically tested line of CBD consumer derma-cosmetic products;
  • Rho Phyto -- an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nationwide across Canada in partnership with Medical Cannabis by Shoppers; Rho Phyto is the first strictly medical formulary of advanced cannabis 2.0 products, containing oils, sprays, capsules, creams and gels, all developed with scientific rigour, manufactured under GMP (good manufacturing practice) standards and supported by preclinical data.

With continuing clinical trials on its derma-cosmetic (branded as Pura Earth or Pura H&W) products, medical cannabis products (branded as Rho Phyto) and a pipeline of pharmaceutical products, Avicanna's dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the company's vision since its inception. Furthermore, Avicanna's commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain, including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa SAS and Santa Marta Golden Hemp SAS, both located in Santa Marta, Colombia. Through these sustainable, economical and industrial-scale subsidiaries, Avicanna cultivates, processes and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG (cannabigerol), THC and other cannabinoids for use as active pharmaceutical ingredients. Avicanna's Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June, 2020, Avicanna made history with a shipment of hemp seeds to the United States by completing the first-ever export of hemp seeds from Colombia.

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