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Avicanna signs IP licensing, supply deal in Argentina

2021-11-30 13:14 ET - News Release

Mr. Lucas Nosiglia reports

AVICANNA ENTERS INTO AN INTELLECTUAL PROPERTY LICENSING AND DISTRIBUTION AGREEMENT WITH ESTABLISHED PHARMACEUTICAL COMPANY IN ARGENTINA

Avicanna Inc. has entered into a partnership with an established Argentine pharmaceutical company to register and commercialize Avicanna's proprietary cannabinoid-based pharmaceutical preparations through the licensing of its intellectual property and supply of its active pharmaceutical ingredients (APIs).

Through the partnership, Avicanna will provide a non-exclusive licence of the company's intellectual property related to its proprietary 10 per cent cannabidiol (CBD) pharmaceutical drug preparation. Additionally, the partner will source its pharmaceutical-grade CBD exclusively from Avicanna to manufacture the product for the registration and marketing authorization with the Argentine regulatory agency ANMAT.

The marketing authorization of the pharmaceutical preparation is expected to be approved during the second half of 2022 and is expected to be supported with claims related to treatment of epilepsy. The estimated patient population and market potential for epilepsy in Argentina is between 400,000 to 500,000 patients, of which about 20,000 patients have refractory epilepsy. "We look forward to entering the Argentine market through a pharmaceutical pathway and to be doing so by delivering our proprietary formulations as solution to patients with unmet medical needs. We are rapidly expanding into the region with innovative and accessible cannabinoid-based pharmaceutical products and are doing so through partnership with reputable industry leaders," stated Lucas Nosiglia, president of Avicanna LatAm.

About Avicanna Inc.

Avicanna is a Canadian commercial-stage biopharmaceutical company established in cannabinoid research, development and evidence-based products for the global consumer as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D (research and development) headquarters in the Johnson & Johnson innovation centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform, including advanced R&D and clinical development, which has led to the commercialization of over 20 products across four main market segments:

  • Medical cannabis and wellness products: Marketed under the Rho Phyto brand, or Magisterial Preparations, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and tetrahydrocannabinol (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. The advanced formulary is marketed with consumer, patient and medical community education and training. Avicanna's medical and wellness product portfolio also forms the foundation of the company's pharmaceutical pipeline with the contribution of the formulations that form the basis of the products as well as the data generated from sales and participation of the products in real-world evidence studies.
  • CBD derma-cosmetic products: Marketed under the Pura H&W or Pura Earth brands, these registered, clinically tested derma-cosmetic products include a portfolio of functional CBD topical products.
  • Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders. Avicanna's first pharmaceutical preparation (Trunerox) is in the drug registration stage in South America.
  • Cannabis raw materials, seeds and bulk formulations: Marketed under the Aureus brand, the company's raw material business has successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full-spectrum extracts and cannabinoid distillates, isolated cannabinoids (CBD, THC, cannabigerol (CBG) and other rare cannabinoids), and bulk formulations derived from hemp and cannabis cultivars through its sustainable, economical and industrial-scale subsidiaries based in Colombia. The majority of the Aureus products are produced at Santa Marta Golden Hemp SAS (SMGH), the company's majority-owned subsidiary, which is also Good Agricultural and Collection Practices (GACP) certified and has U.S. Department of Agriculture (USDA) National Organic Program certification for its hemp cultivar.

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