Khiron Signs Distribution Deal in Germany for Medical Cannabis Imports and Sales
- Khiron partners with Nimbus Health, a leading medical cannabis distributor in Germany, with broad reach into domestic pharmacies
- First import and sales of Khiron branded EU GMP medical cannabis products are expected in Q3/20
- Medical education and marketing activities to begin imminently
- Germany is the largest medical cannabis market in Europe with €123M of fully reimbursed patient prescriptions in 2019 (source: GKV)
- By 2028, the German medical cannabis market is predicted to be worth nearly €7.7bn (source: Prohibition Partners)
TORONTO, June 25, 2020 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, announces that it has entered into an agreement with Nimbus Health, a leading German distributor of medical cannabis products. Khiron branded EU GMP medical cannabis will soon be available in Germany for prescription by doctors and dispensation in pharmacies.
Tejinder Virk, President of Khiron Europe, commented: "This is a major milestone for our company. Following our recent entry into the United Kingdom, the expansion into Germany will greatly benefit patients who still suffer from inconsistent supply. Khiron is now well positioned to service this rapidly expanding market in Germany."
The supply of EU GMP medical cannabis to Germany will be fully supported by the Company's global medical education team, led by Dr. Maria Fernanda Arboleda, Khiron's International Director for Medical Services. Dr. Arboleda is an Anesthesiologist, Pain and Palliative Care Physician. She completed a Spine-Regional Anesthesia Fellowship at the McGill University Health Center and a Post-Doctoral Research Fellow in Supportive Cancer Care and Medical Cannabis, at the Department of Oncology, McGill University, and at Santé Cannabis, a leading specialized cannabis clinic in Canada.
Franziska Katterbach, Managing Director & Chief Legal Officer for Khiron Europe based in Frankfurt, commented: "Germany continues to be the European leader in medical cannabis, with other countries observing and adapting to the German regulatory model. The market is also differentiated with its large proportion of patient prescriptions fully reimbursed through insurance."
About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America. Khiron is the leading cannabis company in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution, and international export of both low and high THC medical cannabis products. The Company has presence in Mexico, Peru, Uruguay, Brazil, UK and Germany, where it is positioned to begin sales of medical cannabis.
Leveraging its first-mover advantage, and patient oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia, with Kuida now marketed in multiple jurisdictions in Latin America, the US and UK. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.
Visit Khiron online at www.khiron.ca, investors.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.
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.
Released June 25, 2020