18:32:33 EDT Sun 07 Aug 2022
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Avicanna Inc
Symbol AVCN
Shares Issued 53,094,476
Close 2022-04-05 C$ 0.315
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Avicanna expands Pura H&W brand into Europe

2022-04-05 11:21 ET - News Release

Mr. Aras Azadian reports


Avicanna Inc. has expanded its previously announced research and development collaboration with Bio-Gate AG with a five-year exclusive distribution agreement for Pura H&W-branded cannabidiol derma-cosmetics.

Avicanna and Bio-Gate are expanding their existing research collaboration with the commercial distribution of Avicanna's evidence-based derma-cosmetic line Pura H&W into the European market. The initial focus of the launch is the German-speaking regions of the continent, including Germany, Austria and Switzerland, where Bio-Gate has an established distribution network of pharmacies and retail channels. In addition, Bio-Gate has the right to select three additional European countries for exclusive distribution within the first 12 months of the agreement.

"We are very pleased to launch the Pura H&W product line from Avicanna, a leader in the cannabidiol (CBD) market, in the European market. We are convinced that the Pura product line is an ideal extension to our product portfolio for our dermatology division. We are looking forward to a successful co-operation," commented Marc Lloret-Grau, chief executive officer of Bio-Gate AG.

"We are thrilled to expand Pura H&W into the European market where we believe that it is well positioned as a clinically backed over the counter cosmetic line. We are also happy to be expanding our strategic partnership with Bio-Gate AG and accessing their experience and proven distribution channels in the region," commented Aras Azadian, chief executive officer, Avicanna.

With retail sales valued at 76.7 billion euros in 2020, the European cosmetics and personal care market is the largest market for cosmetic products in the world. In Europe, Germany has the highest consumption value for beauty and personal care products and its per capita annual spending on cosmetics is relatively high at 153 euros per year, with high interest in premium cosmetics.

Pura H&W portfolio for the European Union

The derma-cosmetic products are registered at the cosmetic products notification portal (CPNP) which allows them to be commercialized over the counter as cosmetic products in every jurisdiction within the European Union.

Derma-cosmetic clinical studies

Three cosmetic clinical studies were completed on Avicanna's Pura H&W 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 H&W one of the only cannabinoid consumer lines with human safety and efficacy data.

About Avicanna Inc.

Avicanna is an innovative, commercial-stage and international biopharmaceutical company focused on the development, advancement and commercialization of evidence-based cannabinoid-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, the company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform, including advanced research and development, and clinical development that has led to the commercialization of more than 30 products across four main market segments.

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