The exclusive distribution agreement includes 5 SKUs from Pura H&W’s evidence-based dermatology cosmetics portfolio
The products will be marketed through Bio-Gate’s existing distribution channels with initial launches planned for Germany, Austria and Switzerland in 2022
TORONTO, April 05, 2022 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on development, manufacturing and marketing of plant-based cannabinoid products, is pleased to announce that it has expanded its previously announced research and development collaboration with Bio-Gate AG (“Bio-Gate”) with an exclusive 5-year distribution agreement for the CBD derma brand Pura H&W -cosmetics.
Avicanna and Bio-Gate are extending their existing research collaboration with the commercial distribution of Avicanna’s evidence-based Pure H&W dermo-cosmetic line in the European market. The initial target of the launch is the German-speaking regions of the continent, including Germany, Austria and Switzerland, where Bio-Gate has an established distribution network of pharmacies and retail channels. Furthermore, Bio-Gate has the right to select 3 other European countries for exclusive distribution within the first 12 months of the agreement.
“We are very pleased to launch Avicanna’s Pura H & W ™ product line, a leader in the cannabidiol (CBD) market, in the European market. We are convinced that the Pura product line is an ideal extension of our product portfolio for our dermatology division. We look forward to a successful partnership, “commented Marc Lloret-Grau, CEO of Bio-Gate AG.
“We are excited to expand Pura H&W into the European market, where we believe it is well positioned as an over-the-counter, clinically supported cosmetic line. We are also happy to expand our strategic partnership with Bio-Gate AG and to access their experience and proven distribution channels in the region, “commented Aras Azadian, CEO of Avicanna.
With retail sales worth € 76.7 billion in 20201, the European cosmetics and personal care market is the largest cosmetic product market in the world. In Europe, Germany has the highest consumption value for beauty and personal care products and its annual per capita expenditure on cosmetics is relatively high at 153 EUR / year, with a strong interest in premium cosmetics .
Pura H&W portfolio for the European Union
Dermocosmetic products are registered with the cosmetic product notification portal (CPNP) which allows them to be marketed over the counter as cosmetic products in any jurisdiction within the European Union.
Clinical dermatological studies
Three cosmetic clinical trials of Avicanna’s Pura H&W formulations have been completed targeting cosmetic factors associated with aging, acne-prone skin, and eczema-prone skin. The successfully completed studies involved 156 patients who were tested for safety and specific dermo-cosmetic endpoints, including hydration and excess oil production. All three studies achieved positive endpoint results with no adverse effects, making Pura H&W one of the only cannabinoid consumer lines with data on safety and efficacy in humans. For more information, see the registry at www.Clinictrials.gov.
To the best of the Company’s knowledge, it carries out its activities in compliance with all applicable laws in the jurisdictions in which it operates.
About Pura H&W
Pura Health & Wellness (Pura H&W) is Avicanna’s dermocosmetic line that uses a combination of purified CBD and other synergistic botanical ingredients designed to naturally regulate and nourish the skin. The Pura H&W product line was developed by Avicanna and specific products have undergone clinical testing. The products are now traded under Pura H&W or Pura Earth in Canada, Colombia, Ecuador and the United States
Pura H&W formulations have been developed and optimized to deliver purified, THC-free CBD in synergistic combinations with other natural ingredients known to provide specific functional benefits in skin care. CBD has been shown to promote skin health by inducing antioxidant, anti-inflammatory and anti-apoptotic responses that could be beneficial for a variety of dermatological conditions such as eczema or atopic dermatitis. Additionally, CBD can downregulate the activity of cells that are critical in the production of skin oils and thus can dampen production in acne-prone skin.
1 Cosmetic Europe https://cosmeticseurope.eu/cosmetics-industry/
Information about Bio-Gate AG
Bio-Gate AG is a health technology company and a leading provider of innovative technologies and products for health, infection control and hygiene that can make coexistence safer and healthier and improve the well-being of every individual. Bio-Gate specializes in providing materials and surfaces with antiviral, antimicrobial or biologically active properties. Bio-Gate AG improves materials and products, particularly in the field of medical technology, for example in the coating of implants or dressings. Additionally, Bio-Gate technologies are used in active dermatological cosmetics and wound care products, as well as in consumer and industrial products.
About Avicanna Inc.
Avicanna is an innovative, commercial and international stage biopharmaceutical company focused on the development, advancement and commercialization of evidence-based cannabinoid products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advances, the Society actively collaborates with leading Canadian academic and medical institutions. Avicanna has created an industry-leading scientific platform that includes advanced research and development and clinical development that has resulted in the commercialization of over thirty products in four major market segments:
CBD dermatological products: Marketed under the Pura H & W ™ or Pura Earth ™ brands, these registered and clinically proven dermo-cosmetic products include a portfolio of functional CBD topical products.
Medical cannabis and wellness products: Marketed under the RHO Phyto ™ brand, these medical and wellness products are an advanced line of pharmaceutical grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a comprehensive formulation of products, including oral, sublingual, topical and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by preclinical data. The advanced form is marketed with the education and training of consumers, patients and the medical community.
Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration and real-world testing, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and at various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox ™) is undergoing drug registration in South America.
Cannabinoid raw materials: Marketed under the Aureus ™ brand, the Company’s commodities business has successfully completed sales in 12 countries. Aureus ™ offers dried cannabis flowers, standardized seeds, full spectrum extracts and distillates of cannabinoids, isolated cannabinoids such as CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids. Aureus ™ products are produced at Santa Marta Golden Hemp SAS, the company’s majority subsidiary in Colombia, also GACP certified and certified by the US Department of Agriculture USDA National Organic Program for its hemp cultivar.
SOURCE Avicanna Inc.
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This press release contains “forward-looking information” within the meaning of applicable securities laws. The forward-looking information contained in this press release can be identified by the use of words such as “could”, “would have”, “could”, “will fly”, “probable”, “expect”, “anticipate”, “believe,” intention “,” plan “,” forecast “,” project “,” estimate “,” prospect “and other similar terms. Forward-looking information contained in this press release includes, but is not limited to, statements regarding financial results and prospects and / or expected operating operations, including projected revenue, projected sales growth, expected expansion of product listings, anticipated application of its products by the Company, growth, anticipated geographic expansion, receipt of regulatory approvals and clearances, clinical trial success, progress and developments scientific, successful marketing of products, priorities, objectives and strategies of the company, industry trends and their expected impact, expected market impact current conditions on each of our segments and short-term expectations, supply chain components and constraints and the Company’s budget estimates and assumptions. Although the Company believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should be placed on forward-looking information as the Company cannot give any assurance that it will be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a number of risks and uncertainties that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Such risks and uncertainties include, without limitation, current and future market conditions, including the market price of the Company’s common stock, and the risk factors set out in the Company’s Annual Information Form dated September 3, 2021 and in the final prospectus abbreviated form. dated 27 November 2020, filed with Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Statements in this press release are made as of the date of this release. The Company disclaims any intention or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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