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Avicanna unit obtains GACP certification in Colombia

2021-11-04 13:43 ET - News Release

Mr. Lucas Nosiglia reports

AVICANNA'S SUBSIDIARY OBTAINS GOOD AGRICULTURAL AND COLLECTION PRACTICES (GACP) CERTIFICATION IN COLOMBIA

Avicanna Inc.'s majority-owned Colombian subsidiary, Santa Marta Golden Hemp SAS (SMGH), has met global conformity standards of good agricultural and collection practices (GACP), an international guide set forth by the European Medicines Agency for starting materials of herbal origin for its 360,000-square-foot cultivation project in Santa Marta, Colombia. The certification will allow for the expansion of the company's raw materials supply business to include organic and now GACP-certified dried flower and biomass at a global level.

The Aureus Santa Marta brand, which includes a range of cannabinoids and standardized genetics offerings, has been successfully exported into 11 countries and, with this recent milestone, will include cannabis flower and biomass offerings to the company's partners and global marketplace. The GACP certification also acts as a prerequisite for European GMP (good manufacturing practice) extraction certification, which the company intends to also attain in 2022.

The strategic timing of the certification is further supported by the recent progressive legislation in Colombia toward the cannabis industry, where, pursuant to Decree 811 of 2021, the export of cannabis flower and biomass is expected to be permitted.

The company's cultivation infrastructure in Santa Marta, Colombia, has potential output of 30,000 kilograms of biomass per year where the company has been commercially cultivating CBD-, CBG- and THC-dominant (cannabidiol/cannabigerol/tetrahydrocannabinol) cultivars for the past few years. This certification completes the company's objective of establishing a low-cost, sustainable and standardized supply chain business with global standards including GACP and USDA (U.S. Department of Agriculture) National Organic Program organic certifications.

Lucas Nosiglia, president of Avicanna Latin America, commented: "This achievement adds to our three years of optimization, the ideal climate conditions and robust genetics of our cultivation practices, which combined further fortify the clear competitive advantages of our global raw material business unit. Coupled with the new regulatory framework in Colombia which would authorize the export of flower; we will now deliver GACP and organic certified flower from our greenhouse and outdoor modalities to the global market."

To the knowledge of the company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.

About Aureus

Avicanna's raw material business units are based in Santa Marta, Colombia, and are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna's current commercial products and pharmaceutical pipeline for the global marketplace.

Additionally, under the Aureus brand, organic and GACP-certified flower and biomass, standardized cannabis extracts, and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. 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 and sustainably and include a range of extracts of CBD, THC and rare cannabinoids such as CBG. Avicanna's supply chain business also benefits from federally regulated legislation in Colombia, where the company is well positioned to be a global supplier of the less competitive psychoactive extracts, including CBD and THC crude oil to meet the growing global demand.

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 (research and development) 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.
  • 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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