Medical Cannabis Leader Khiron Continues Global Expansion into Spain

Khiron's Medical Clinics and Distribution Growth Throughout Europe Follows Success in Latin American Marketplace

  • Since establishing a Spanish subsidiary in 2019, Khiron's scientific and medical team is recognized as cannabinoid experts in Spain
  • Khiron continues its long-standing relationship with the Spanish Agency of Medicines and Medical Devices (AEMPS) and actively contributes to several educational initiatives in Spain
  • Khiron provides comprehensive and certified medical education, used worldwide to successfully educate thousands of prescribers and created in close cooperation with renowned University Tecnologico of Monterrey in Mexico

TORONTO, July 6, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a global leader in medical cannabis throughout Europe and Latin America, applauds recent developments regarding the regulation of medical cannabis in Spain. The company now looks forward to bringing its clinical expertise and evidence from Khiron-owned Zerenia™ Clinics in Colombia, Peru, Brazil, and the UK to Spanish patients to guide medical professionals for the benefit of Spanish patients.

Spain has been an important exporter of medical cannabis in Europe, but Spain itself has not had national medical cannabis legislation in place. With a population of more than 47 million people in Spain, experts in the medical cannabis industry in Europe estimate that the potential market size for the medical cannabis market is at least 700,000 patients or 1.5% of the country's total population.

Khiron has been active in Spain since establishing its subsidiary Khiron Life Sciences Spain in 2019. For the past 3 years, Khiron has worked to encourage this regulatory shift in Spain by promoting educational initiatives together with a network of national collaborators such as the Spanish Society for Research on Cannabinoids (SEIC), the Iberoamerican Cannabinoid Research Network (CANNALATAN), Cannabmed (ICEERS), the Cannabis Hub (Polytechnic University of Barcelona), the Sociedad Clínica de Endocannabinología (SCE) and the Technological Agroalimentary Center in Extremadura (CTAEX).

For Khiron, which already offers its cannabinoid-based medicines and clinical services in two of the largest markets for medical cannabis in Europe (Germany and the United Kingdom), it is a logical step into Spain, one which the company has been preparing for years. This process is further supported by the steady expansion of Khiron Europe's medical portfolio, which will grow with the recent acquisition of an EU GMP-certified German pharmaceuticals manufacturer and wholesaler. The acquisition will accelerate Khiron's growth in Europe by controlling the complete value chain for its products and gaining direct access to European pharmacies.

Franziska Katterbach, President of Khiron Europe, said: "We welcome the planned regulation for medical cannabis in Spain. For Khiron, Spain is another important European market with great potential in which we have been active since 2019 - but the opening of the market for medical cannabis in Spain is even more important for the hundreds of thousands of potential patients in Spain who do not have access to cannabinoid-based therapies. 

As a company, we look back on years of operational and physical presence in Spain, with participation in medical congresses, lectures at universities, long-standing business relationships with national partners, and cooperation with Spanish institutions. Khiron is well prepared for the coming developments in Spain."

About Khiron Life Sciences Corp.

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and a focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, the United Kingdom, Peru, and Brazil and is positioned to commence sales in Mexico. The Company is led by its co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and board of directors.

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Cautionary Statement Regarding Forward-Looking Statements

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information and statements contained herein reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding the future regulatory developments and economic conditions, the Company's ability to continue its growth and reduce costs. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law. 

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SOURCE Khiron Life Sciences Corp.