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Avicanna Inc
Symbol AVCN
Shares Issued 41,271,574
Close 2021-09-16 C$ 0.90
Recent Sedar Documents

Avicanna completes Pura Earth registration in Ecuador

2021-09-16 10:46 ET - News Release

Mr. Lucas Nosiglia reports

AVICANNA COMPLETES REGISTRATION AND COMMERCIAL EXPORT OF ITS EVIDENCE-BASED CBD DERMACOSMETICS BRAND, PURA EARTH, IN ECUADOR

Avicanna Inc. has completed product registration and its first commercial export of its Pura Earth branded derma-cosmetic products in Ecuador.

The initial export includes four SKUs (stock-keeping units) of the Pura Earth branded products that have been manufactured in Colombia under GMP (good manufacturing practice) conditions and will be commercialized and distributed through a partnership with Spenta SA through retail and e-commerce channels. The CBD derma-cosmetics have also been registered and approved for sales as consumer cosmetic products by the Ecuadorean health authority, Agencia Nacional de Regulacion, Control y Vigilancia Sanitaria (ARCSA).

Pura Earth and the potential of CBD (cannabidiol) skin care

The Pura Earth product formulations have been developed and optimized to deliver purified, THC-free (tetrahydrocannabinol) CBD in synergistic combinations with other natural ingredients known to provide specific functional benefits in skin care. CBD has been shown to promote skin health by inducing anti-oxidant, anti-inflammatory and anti-apoptotic responses that could be beneficial for a variety of dermatological conditions as eczema or atopic dermatitis. In addition, CBD can downregulate the activity of cells that are critical in the production of skin oils and therefore may dampen the production in acne-prone skin. Three out of the four Pura Earth products are dermatologist tested to ensure there are no occurrences of skin irritation or sensitization; they are demonstrated to have physical and chemical stability and they each have a shelf life of at least two years. The formulations have been optimized over the last three years through Avicanna's R&D (research and development) infrastructure to increase CBD uptake into the skin and to address various consumer needs. In addition to the completed clinical trials, all Pura Earth products are not tested on animals and are vegan.

"After years of R&D and clinical development of what we believe is the most advanced line of CBD skin care products, we are thrilled to expand our distribution capabilities into Ecuador. Although this is an early stage for the Latin American market, we believe this shows the potential of Pura Earth as a leading skin care brand in the region," stated Lucas Nosiglia, president of Avicanna LatAm.

About the initial three Pura H&W products and the clinical studies

The three cosmetic clinical studies were completed on Avicanna's 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 end points, including hydration and excess oil production. All three studies achieved positive results in the end points with no adverse effects, making Pura Earth one of the only cannabinoid consumer lines with human safety and efficacy data. Highlights are as follows:

  • Clear skin gel: The water-based gel contains beta-caryophyllene and tea tree extract that are known to have anti-bacterial and anti-inflammatory properties. In addition, rosemary oil extract has demonstrated actions against the symptomatic treatment of acne. In Avicanna's clinical study, the rosemary/tea tree gel was investigated for its short-term and long-term effects on skin hydration and sebum (oil) production on acne-prone or oily skin. The results showed significant increase in skin hydration and a significant decrease in oiliness in 93 per cent of participants who had oily skin.
  • Intensive moisturizing cream: The oil-based formula uniquely marries CBD, colloidal oatmeal and hemp seed oil aimed at relieving skin redness. Colloidal oatmeal has been shown to improve skin dryness, roughness and itch intensity. Avicanna's clinical study of colloidal oatmeal cream evaluated its effect on skin hydration and erythema and found that 86 per cent of participants had decreased skin redness after three hours and increased skin hydration.
  • Anti-aging cream: The rich, lightly scented white cream is a unique amalgamation of purified CBD, Japanese cedar bud, tocopheral and hemp seed oil. This formula targets aging skin and is aimed at enhancing skin texture and skin renewal.

About Avicanna Inc.

Avicanna is a commercial-stage Canadian biopharmaceutical company and an established leader in cannabinoid research, development and evidence-based products for the global consumer, medical and pharmaceutical market segments. Avicanna conducts its research in Canada including its R&D headquarters in the Johnson & Johnson innovation centre, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration 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 over 20 products across four main market segments:

  • Rho Phyto: These medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and 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 preclinical data. These products are developed using pharmaceutical drug development processes and are supported with preclinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W/Pura Earth: These registered, clinically tested cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus: As a part of Avicanna's vertical integration based out of Santa Marta, Colombia, its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partners' food, cosmetic, medical and pharmaceutical needs. Aureus-branded products are cultivated, extracted and manufactured by Avicanna's subsidiaries in Colombia, where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG (cannabigerol) extracts and standardized seeds. The company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in four continents.
  • Pharmaceutical pipeline: Leveraging the company's scientific platform, vertical integration and real-world evidence, Avicanna has established a pipeline of indication-specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna's drug candidates are in the preclinical stage and the company is dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

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