Khiron Appoints Former DEA Chief of Pharmaceutical Investigations Matt Murphy as Vice President, Compliance
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--Under Mr. Murphy's guidance, Khiron becomes only medical cannabis producer in Colombia with DEA-level security protocols--
TORONTO, May 31, 2018 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), a Canadian integrated medical cannabis company with its core operations in Colombia, announced today that it has appointed former U.S. Drug Enforcement Administration ("DEA"), Chief of Pharmaceutical Investigations, Matt Murphy, as the Company's Vice President, Compliance.
Mr. Murphy is an internationally recognized security expert with broad-based domestic and international expertise in the fields of drug law enforcement, risk assessment and system development, regulatory compliance, and training. As a Career Special Agent with the DEA for 25 years, he was responsible for coordinating and successfully resolving pharmaceutical diversion investigations across the U.S. before retiring as the Assistant Special Agent in charge of the DEA's Boston office.
"As a result of Mr. Murphy's extensive background and expertise in law enforcement and regulatory compliance, Khiron is the first medicinal cannabis producer in Colombia to implement U.S. DEA level security protocols. With Mr. Murphy's leadership, we have developed a scalable and comprehensive compliance and security plan that identifies and mitigates all risks relating to Khiron's assets, and covers the entire production, distribution, logistics and operations chain," stated Alvaro Torres, President and CEO.
This new role expands on Murphy's previous Company Advisory Board membership where his impact has been essential in establishing multiple initiatives such as Colombian compliance security training Standard Operating Procedure (SOP) manuals and overseeing seed to sale tracking software. As VP Compliance, Murphy will lead the implementation of advanced security protocols across new market entrances for Khiron, supported by his deep DEA network, and a strong support team.
"Over the course of the past three years, the Colombian government has formulated a highly impressive legal framework to both create and regulate the medicinal cannabis market. The Colombian framework provides a solid and innovative example for other national jurisdictions to follow across Latin America and other parts of the world. From a business perspective, we appreciate the clarity and consistency of the regulations, which we believe will result in the displacement of current treatment methods including opioid based medications for chronic pain. In my 25 years with the DEA, I have never encountered an overdose attributable to cannabinoids," stated Mr. Murphy.
In his new role with Khiron, Mr. Murphy will oversee the planning, design, implementation, coordination and operations of the security program for the Company. This includes the personal security of employees and physical security of all facilities, distribution networks and logistics.
Working closely with Mr. Murphy to ensure the proper implementation of the Company's compliance protocols in Colombia is Henry Tibaduiza, Security Manager of Khiron. Mr. Tibaduiza will assume responsibility for developing strong relations with local, regional and national law enforcement and military authorities throughout the country.
Mr. Tibaduiza is a former Lieutenant Colonel of the National Police of Colombia. During his career at the National Police, he held several important positions related to anti-narcotics efforts, including Chief of Anti-narcotics Management Office, Coordinator of Plan Colombia Office and Chief of Illicit Cultivation Eradication Program. After leaving the National Police, Mr. Tibaduiza worked as a contractor for the U.S. Department of State as Manager of the Illicit Cultivation Spraying Program, where he was responsible for planning, execution and coordination between the U.S. State Department and Colombian authorities on all efforts to reduce illicit drug cultivations across Colombia. Most recently, he was Administrative Manager for the contracting company that supports the U.S. Defense Department in Colombia.
About Khiron Life Sciences Corp.
Khiron is a Canadian integrated medical cannabis company with its core operations in Colombia, and is fully licenced in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. Khiron combines leading international scientific expertise, agricultural advantages, and branded product market entrance experience to address the unmet medical needs in a market of over 620 million people in Latin America.
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. 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 information in this press release are reasonable, such forward-looking information 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 Filing Statement 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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SOURCE Khiron Life Sciences Corp.
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Released May 31, 2018