Khiron Provides Progress Update on Fully Operational and GMP Compliant Colombian Lab Facilities
- State-of-the-art, 14,000 square foot GMP compliant cannabis extraction lab and ISO 17025 compliant cannabis testing lab includes full capabilities in Ultra high and High performance liquid chromatography ("UHPLC" & "HPLC") technology, gas chromatography, stability testing, microbiology and heavy metals testing
- Physical chemical cannabis testing lab has a capacity of up to 70 daily UHPLC & HPLC cannabinoid samples, 15 daily gas chromatography samples, and 2,000 monthly heavy metals samples. Microbiological testing lab has a capacity of up to 20 daily samples
- State-of-the-art testing lab allows the Company to fully test every aspect of its vertical integration from soil and water to flower to extract, ensuring a high-quality product that will be delivered to patients across Latin America
- Company reaffirms full grow site commercialization, starting with already approved CBD strains, anticipated in Q3 2019
- Cultivation capabilities operate within the most up-to-date country THC quotas assigned by the International Narcotics Control Board (INCB) to meet domestic demand, including to serve more than 119,000 patients at the Company's ILANS clinics
- Significant investment in cultivation and production facilities ensures capacity and infrastructure to meet the most stringent local testing requirements to sell in the Colombian market
TORONTO, Aug. 22, 2019 /PRNewswire/ - 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, is pleased to provide an update on its cultivation and production operations near Ibague, Colombia, where it has achieved significantly expanded analysis, extraction and purification capabilities across its cultivation facility.
Khiron currently owns and operates one of the most sophisticated medical cannabis cultivation and processing facilities in Latin America. Building on the completion of the facility announced on June 2, 2019, the state-of-the-art, 14,000 square foot GMP and ISO 17025 compliant lab now includes full capabilities in the following:
- Ultra high and High performance liquid chromatography ("UHPLC & HPLC") technology, gas chromatography technology, microbiology testing, and heavy metals for testing flower and extract samples –Through the use of these in-house techniques, Khiron can quickly and accurately analyze samples, identify active cannabis components, and ensure that products are extracted and purified to meet local regulations on THC and CBD concentrations.
- Stability testing – Stability tests provide evidence on how cannabis products vary over a given time period and under the influence of environmental factors. Khiron currently has robust stability testing capacities in place, with studies designed to evaluate and ensure the quality, safety and efficacy of its products, across various stages of extraction, as well as final product. In Colombia, stability data is needed to receive quotas for the production and domestic commercialization of THC extracts. As part of the Company's commitment to high quality standards, stability testing for extracts and final products are necessary before shipping product to consumers.
- Vertical integration – Leveraging the Company's cultivation, extraction and purification capabilities, Khiron has the ability to manage all stages of cannabis production, from soil to flower to extract, entirely within its own facility. Its vertically integrated capabilities serve to maximize efficiency and reliability across the cannabis supply chain, allowing the Company to streamline operations as it moves towards the sale and distribution of its products.
Alvaro Torres, Khiron CEO and Director, stated, "With advanced analysis, extraction and purification capabilities in place, the company has performed the analytical and stability tests required by the authorities to launch medical products and we remain on track for full commercialization of the grow site, anticipated in Q3 2019. Our significant investment in the Company's Ibague facility, primarily to target a market of 6 million patients in Colombia, ensures Khiron remains focused on its core strategy to serve the domestic market in Latin America."
Through scalable and flexible operations, the Company has designed its cultivation capabilities to work within the most up-to-date country quota to meet domestic demand, including to serve more than 119,000 patients at the Company's IILANS clinics. Based on the total allocation to the country, the Government of Colombia allocates annual quotas reflecting the operational plan and production estimates as outlined in the licence submissions, with the ability to request additional capacity to meet market demands. Country production quotas for 2020 will be announced by the INCB in January 2020.
For more information and most recent images from the Company's cultivation, extraction and analysis facilities, please visit https://investors.khiron.ca/gallery
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.
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.
Released August 22, 2019