Brazil Health Agency Authorizes Import of Khiron Medical Cannabis Product
- 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 /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, 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
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.
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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
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SOURCE Khiron Life Sciences Corp.
Released February 7, 2020