- Brazil represents the largest
addressable market in Latin
America with a population of 208 million and a potential USD
$229 Million patient network for
medical cannabis (New Frontier Data)
- Brazilian national health authority (ANVISA) approves the sale
of medical cannabis products for sale by prescription and through
pharmacies
- Khiron to participate in Brazil medical cannabis market through the
Mercosur Regional Trading Bloc
- Regulations come into force 90 days after imminent posting on
Federal Official Gazette
TORONTO, Dec. 4, 2019 /CNW/ - Khiron Life Sciences
Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB:
KHRNF), (Frankfurt: A2JMZC), a
vertically integrated cannabis leader with core operations in
Latin America, welcomes today's
announcement from ANVISA, the National Agency for Health
Surveillance of Brazil,
establishing a legalized environment for the sale and consumption
of cannabis for medical use. The new regulations will be published
in the coming days on the Federal Official Gazette and enter into
law 90 days after that.
In the announcement from ANVISA, a new class of medical
cannabis-based products will be prescribed by doctors and sold
through pharmacies, enabling patient safe and legal access. The
regulatory framework sets a comprehensive procedure for the
manufacture and import of these products as well as the
requirements for commercialization, prescription, dispensing,
monitoring and supervision of cannabis products for medical
purposes. The resolution was approved unanimously and is valid for
an initial three-year term.
Andres Galofre, Khiron Co-founder
and Vice President, Business Development, commented, "We
congratulate legislators and the health authority in Brazil for their leadership in establishing a
legalized environment for medical cannabis in the country. With a
population of over 200 million this will directly benefit the
health and wellbeing of a significant number of patients in
Brazil and affirms our position as
a LatAm leader in a rapidly globalizing cannabis market."
Khiron has a firmly established market-entry strategy for
Brazil, with Dormul S.A., its
wholly owned subsidiary based in Uruguay giving the Company access to the
Brazilian market through the Mercosur Regional Trading Bloc. The
Company has initiated pre-clinical medical cannabis studies with
the Universidad de la República of Uruguay and Institut
Pasteur de Montevideo, providing direct strategic opportunity
for 3 million patients for medical cannabis in Uruguay, and a Brazilian market of 3.4 million
(New Frontier Data). Further, on November
29th the Company announced it had received
authorization from the Colombian Technical Quotas Group ("TQG") for
the commercialization of medical use High THC cannabis for domestic
and export purposes, including to Brazil, with manufacture to begin in Q1
2020.
About Khiron Life Sciences Corp.
Khiron Life Sciences
Corp. is positioned to be the dominant integrated cannabis company
in Latin America. Khiron has core
operations in Latin America and is
fully licensed in Colombia for the
cultivation, production, domestic distribution, and international
export of both tetrahydrocannabinol (THC) and cannabidiol (CBD)
medical cannabis. The company delivers best in class regulatory
compliance, has the first approved set of CBD cosmetic products on
shelf in Colombia, and is currently facilitating testing to
meet and surpass all license requirements for commercial cannabis
derived products.
With a focused regional strategy and patient oriented
approach, the Company combines global scientific expertise,
agricultural advantages, branded product market entrance
experience and education to drive prescription and brand
loyalty to address priority medical conditions such as chronic
pain, epilepsy, depression and anxiety in the Latin American
market of over 620 million people. The Company is led by Co-founder
and Chief Executive Officer, Alvaro
Torres, together with an experienced executive team,
and a knowledgeable Board of Directors that includes former
President of Mexico, Vicente Fox.
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking
information" and "forward-looking statements" within the meaning of
applicable securities legislation. All information contained herein
that is not historical in nature may constitute forward-looking
information. Khiron undertakes no obligation to comment analyses,
expectations or statements made by third-parties in respect of
Khiron, its securities, or financial or operating results (as
applicable). Although Khiron believes that the expectations
reflected in forward-looking statements in this press release are
reasonable, such forward-looking statement has been based on
expectations, factors and assumptions concerning future events
which may prove to be inaccurate and are subject to numerous risks
and uncertainties, certain of which are beyond Khiron's control,
including the risk factors discussed in Khiron's Annual Information
Form which is available on Khiron's SEDAR profile
at www.sedar.com. The forward-looking information contained in
this press release is expressly qualified by this cautionary
statement and are made as of the date hereof. Khiron disclaims any
intention and has no obligation or responsibility, except as
required by law, to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise.
United States Disclaimer
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities
in the United States. The securities have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the
United States or to U.S. Persons
(as such term is defined in Regulation S under the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is
available
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
Further information in respect of the Company can be found
at www.khiron.ca.
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SOURCE Khiron Life Sciences Corp.