Avicanna enters into a framework supply agreement with Chilean pharmaceutical pioneer Knop Laboratorios SA


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Expansion and strengthening of the relationship since 2020 with a pharmaceutical company established in Chile

Supply of Avicanna Active Pharmaceutical Ingredients for existing trade and pharmaceutical pipeline in South America

TORONTO, Jan. 14, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid products, is pleased to announce that, through its majority subsidiary Santa Marta Golden Hemp (“SMGH”), the Company has entered into a Master Supply Agreement with Chilean pharmaceutical company Knop Laboratorios SA (“Knop”) to provide a range of cannabinoid-based active pharmaceutical ingredients (“APIs”) for the manufacture and commercialization of proprietary cannabinoid-based pharmaceutical products in Latin America.

Since 2018, Avicanna and Knop have developed a collaborative venture that has led to commercial imports of Avicanna’s API, including CBD and THC, which has been used in the development, production and marketing of several products based on cannabinoids. Through this master supply agreement between SMGH and Knop, both companies further strengthen their commitments to a successful partnership and prepare for the industrialization of Knop’s cannabinoid-based pharmaceutical products manufactured using biological inputs and durable from Avicanna.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e298f331-9e1a-46af-af2a-e7dd7a620ad4

About Knop Laboratorios SA.

Knop Laboratorios SA is a Chilean pharmaceutical company and pioneer in phytotherapy with more than 90 years of experience in the field and an active presence in several Latin American countries, including Chile, Ecuador, Colombia, Bolivia, Paraguay and Peru. With a GMP certified factory located in Quilpué, Chile, Knop Laboratorios serves its markets with high quality pharmaceutical products. Knop has a large portfolio of registered products, including Cannabiol®, a cannabinoid product already registered in Peru, and its own commercial infrastructure, including strategic partnerships with more than 80 “Knop pharmacies” in Chile. In 2021, Knop opened the first R&D center in Chile for phytomedicines and active ingredients of natural origin.

Knop conducts various clinical studies for its cannabinoid products, with the authorization of the competent health authorities.

“We are pleased to announce the consolidation of our partnership with Knop and to continue our expansion into the Chilean market through our Active Pharmaceutical Ingredient (API) offerings with an established pharmaceutical leader and pioneer in the cannabinoid sector in Chile. Over the past few years, we have worked closely together and are excited about the potential of what the two companies can jointly accomplish in the emerging medical and pharmaceutical industry in the southern cone of Latin America. said Lucas Nosiglia, President of Avicanna LATAM.

About Avicanna

Avicanna is a commercial-stage Canadian biopharmaceutical company established in the research and development of evidence-based cannabinoids and products for the global consumer, as well as the medical and pharmaceutical market segments. As a leader in global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D headquarters at the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with major Canadian academic and medical institutions. Avicanna has established a cutting-edge scientific platform including advanced R&D and clinical development that has led to the commercialization of more than twenty products in four main market segments:

  • Medical Cannabis and Wellness Products: Marketed under the RHO Phyto™ brand, or Compounds, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing various ratios of cannabidiol (“CBD “) and tetrahydrocannabinol (“THC”). . The product portfolio contains a comprehensive list of products including oral, sublingual, topical and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by preclinical data. The advanced form is marketed with education and training for consumers, patients and the medical community. Avicanna’s portfolio of medical and wellness products also forms the foundation of the company’s pharmaceutical pipeline with input from formulations that form the basis of the products as well as data generated from sales and product participation in studies. real-world evidence.
  • CBD Dermo-Cosmetic Products: Marketed under the Pura H&W™ or Pura Earth™ brand names, these registered and clinically tested dermo-cosmetic products include a portfolio of functional topical CBD 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 at various stages clinical development and commercialization. These cannabinoid-based drug candidates provide solutions to unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders. The first pharmaceutical preparation of Avicanna (Trunerox) is in the drug registration stage in South America.
  • Bulk Cannabis Raw Materials, Seeds and Formulations: Marketed under the Aureus™ brand, the Company’s Raw Materials business has successfully achieved sales in 11 countries. Aureus offers dried cannabis flowers, standardized seeds, full-spectrum extracts and cannabinoid distillates, isolated cannabinoids (CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids) and derived bulk formulations of hemp and cannabis cultivars thanks to its sustainable and economic development. , and industrial-scale subsidiaries based in Colombia. The majority of Aureus products are manufactured 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 Department of Agriculture des United States (“USDA”) National Organic Program certification for its hemp cultivar.

SOURCEAvicanna Inc.

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For more information about Avicanna, visit www.avicanna.com, contact Ivana Maric by email at [email protected] or follow us on social media at LinkedIn, Twitter, Facebook or Instagram.

The Company posts updates via videos on the Company’s official YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

Caution Regarding Forward-Looking Information and Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information in this press release can be identified by the use of words such as “may”, “could”, “might”, “will”, “likely”, “expect”, “anticipate”. , ‘believe’, ‘intent’, ‘plan’, ‘forecast’, ‘project’, ‘estimate’, ‘outlook’ and other similar expressions. Forward-looking information is not a guarantee of future performance and is based on a number of management estimates and assumptions in light of management’s experience and perception of trends, current conditions and expected developments, and other factors relevant in the circumstances, including assumptions regarding current and future market conditions, the current and future regulatory environment, the availability of licenses, approvals and permits, and the utility and application potential of certain drugs, cannabinoids, compounds and products. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on forward-looking information as the Company cannot guarantee that it will prove to be accurate. Actual results and developments may differ materially from those contemplated by such statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. These risks and uncertainties include, but are not limited to, current and future market conditions, including the trading price of the Company’s common shares, and the risk factors set forth in the Company’s Annual Information Form dated September 3, 2021. and the abbreviated final prospectus dated November 27, 2020, filed with the Canadian securities authorities and available under the Company’s profile on SEDAR at www.sedar.com. The statements contained in this press release are made as of the date of this press release. The Company disclaims any intention or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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