- Authorization from the Brazilian Health Regulatory Agency
(ANVISA) allows for Khiron medical cannabis product to be imported
for use on an individual patient basis
- Authorization follows December
2019 announcement by ANVISA allowing for a new class of
medical cannabis-based product to be prescribed by doctors and sold
through pharmacies, enabling patient safe and legal access
- In Colombia, Company prepares
for final authorization milestone allowing for domestic medical
cannabis distribution
- Brazil represents the largest
addressable market in Latin
America with an anticipated 3.4 million patient population
and a potential USD $1.4 Billion
network for medical cannabis (New Frontier Data)
TORONTO, Feb. 7, 2020 /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, today announced that the
Brazilian Health Regulatory Agency (ANVISA) has authorized for
Khiron medical cannabis product to be imported into Brazil on an individual patient
basis. This authorization will enable the Company to apply for
a permit to export the product from Colombia. Commercialization in Brazil is also conditional on TSXV
approval.
"Within our LatAm strategy receipt of this authorization from
ANVISA represents another regulatory milestone in bringing our
medical cannabis products to the largest patient market in
Latin America. With a continued
focus on the health and wellbeing of patients in the region, we
continue to grow our network in Brazil as we also work towards pending
authorizations in Colombia and
Peru." Comments Alvaro Torres, Khiron CEO and Director.
The announced regulatory framework, administered by the
Brazilian Health Regulatory Agency (ANVISA), sets a comprehensive
procedure for the manufacture and import of medical cannabis
products and requirements for commercialization, prescription and
dispensing. In the announcement, a new class of medical
cannabis-based products will be prescribed by doctors and sold
through pharmacies, enabling patient safe and legal access.
The medical cannabis market in Brazil is anticipated to grow to 3.4 million
patients and a market of US$1.4
Billion within three years, including serving patients with
chronic pain conditions (Source: New Frontier Data). Further, total
requests for medical cannabis have tripled since 2015 (Source:
ANVISA) and today, approximately 1,100 physicians are now
prescribing medical cannabis to their patients.
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.
Visit Khiron online at www.khiron.ca and on Instagram
@khironlife
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.
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SOURCE Khiron Life Sciences Corp.