Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX:
AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the
development, manufacturing and commercialization of plant-derived
cannabinoid-based products, is pleased to announce that, through
its majority owned Colombian subsidiary, Santa Marta Golden Hemp
S.A.S. (“SMGH”), it has expanded reach for its Aureus raw materials
in the European Union with a commercial export of purified
cannabigerol (“CBG”) into the Czech Republic.
The completed export into the Czech Republic
marks the Company’s first commercial export of CBG into the
European Union and the twelfth (12th) market that the Aureus
branded products has entered. The new market entrance further
demonstrates the company’s rapidly expanding international business
model and validates the company’s leadership in innovation and the
commercialization of rare cannabinoids. Aureus branded CBG is
cultivated through organic certified and sustainable practices at
Avicanna’s Santa Marta Golden Hemp (SMGH) facilities. The CBG is
also extracted and purified through Avicanna’s proprietary
processes to provide an isolated and purified form.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a8f82e40-e04f-48e6-ae5c-7f1867c08772
To the knowledge of the Company, it carries out
its operations in compliance with all applicable laws in the
jurisdictions in which it operates.
About Cannabigerol (CBG)
CBG has strong anti-inflammatory properties,
making it an exciting potential option for formulating topical
treatments for arthritis, and muscle and joint pain, as well as
prospective oral treatments to address gut inflammation on a
cellular level. CBG is considered a rare and non-psychoactive
cannabinoid that acts as the precursor to other more commonly known
cannabinoids including CBD and THC. CBG is typically expressed in
low amounts in common cultivars of cannabis, however, Avicanna has
propagated proprietary cultivars that expresses exceptionally high
amounts of the rare cannabinoid. CBG has been shown to have
anti-inflammatory, anti-bacterial and neuroprotective
properties1-6. CBG also has the potential to be formulated across
various delivery forms including topical and ingestible for a given
therapeutic focus.
1 Aqawi, M., Sionov, R. V., Gallily, R., Friedman, M., &
Steinberg, D. (2021). Anti-Bacterial Properties of Cannabigerol
Toward Streptococcus mutans. Frontiers in microbiology, 12,
656471.
2 Borrelli, F., Fasolino, I., Romano, B., Capasso, R., Maiello,
F., Coppola, D., Orlando, P., Battista, G., Pagano, E., Di Marzo,
V., & Izzo, A. A. (2013). Beneficial effect of the
non-psychotropic plant cannabinoid cannabigerol on experimental
inflammatory bowel disease. Biochemical pharmacology, 85(9),
1306–1316.
3 Gugliandolo, A., Pollastro, F., Grassi, G., Bramanti, P.,
& Mazzon, E. (2018). In Vitro Model of Neuroinflammation:
Efficacy of Cannabigerol, a Non-Psychoactive Cannabinoid.
International journal of molecular sciences, 19(7), 1992.
4 Henshaw, F. R., Dewsbury, L. S., Lim, C. K.,
& Steiner, G. Z. (2021). The Effects of Cannabinoids on Pro-
and Anti-Inflammatory Cytokines: A Systematic Review of In Vivo
Studies. Cannabis and cannabinoid research, 6(3), 177–195.
5 Robaina Cabrera, C. L., Keir-Rudman, S., Horniman, N.,
Clarkson, N., & Page, C. (2021). The anti-inflammatory effects
of cannabidiol and cannabigerol alone, and in
combination. Pulmonary pharmacology &
therapeutics, 69, 102047.
6 Stone, N. L., Murphy, A. J., England, T. J., & O'Sullivan,
S. E. (2020). A systematic review of minor phytocannabinoids with
promising neuroprotective potential. British journal of
pharmacology, 177(19), 4330–4352.
About Avicanna
Avicanna is a Canadian commercial-stage
biopharmaceutical company established in cannabinoid research,
development, and evidence-based products for the global consumer,
as well as medical and pharmaceutical market segments. In leading
global cannabinoid advancements, Avicanna conducts most of its
research in Canada at its R&D headquarters in the Johnson &
Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS
Discovery District. The company actively collaborates with leading
Canadian academic and medical institutions. Avicanna has
established an industry-leading scientific platform including
advanced R&D and clinical development which has led to the
commercialization of over twenty products across four main market
segments:
- Medical Cannabis
& Wellness Products: Marketed under the RHO Phyto™ brand, or
Magisterial Preparations, these medical and wellness products are
an advanced line of pharmaceutical-grade cannabis products
containing varying ratios of cannabidiol (“CBD”) and
tetrahydrocannabinol (“THC”). The product portfolio contains a full
formulary of products including oral, sublingual, topical, and
transdermal deliveries that have controlled dosing, enhanced
absorption and stability studies supported by pre-clinical data.
The advanced formulary is marketed with consumer, patient and
medical community education and training. Avicanna’s medical and
wellness product portfolio also forms the foundation of the
Company’s pharmaceutical pipeline with the contribution of the
formulations that form the basis of the products as well as the
data generated from sales and participation of the products in real
world evidence studies.
- CBD
Derma-Cosmetic Products: Marketed under the Pura H&W™ or Pura
Earth™ brands, these registered, clinically tested, derma-cosmetic
products include a portfolio of functional CBD topical
products.
- Pharmaceutical
Pipeline: Leveraging Avicanna’s scientific platform, vertical
integration, and real-world evidence, Avicanna has created a
pipeline of patent-pending drug candidates which are
indication-specific and in 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 in the
drug registration stage in South America.
- Cannabis Raw
Materials, Seeds, and Bulk Formulations: Marketed under the Aureus™
brand, the Company’s raw material business has successfully
completed sales to 11 countries. Aureus offers cannabis dried
flower, standardized seeds, full spectrum extracts, and cannabinoid
distillates, isolated cannabinoids (CBD, THC, cannabigerol (“CBG”)
and other rare cannabinoids), and bulk formulations derived from
hemp and cannabis cultivars through its sustainable, economical,
and industrial-scale subsidiaries based in Colombia. The majority
of the Aureus products are produced at Santa Marta Golden Hemp
S.A.S. (“SMGH”), the Company’s majority-owned subsidiary, which is
also Good Agricultural and Collection Practices (“GACP”) certified
and has United States Department of Agriculture (“USDA”) National
Organic Program certification for its hemp cultivar.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit www.avicanna.com,
contact Ivana Maric by email at info@avicanna.com or follow us on
social media on LinkedIn, Twitter, Facebook or Instagram.
The Company posts updates through videos from the official
company YouTube channel
https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.
Cautionary Note Regarding Forward-Looking Information
and Statements
This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information contained in this press release may be
identified by the use of words such as, "may", "would", "could",
"will", "likely", "expect", "anticipate", "believe, "intend",
"plan", "forecast", "project", "estimate", "outlook" and other
similar expressions and includes statements with respect to the
Company’s ability to generate data to support a final patent
application, the Company’s ability to conduct further research on
the Formulation Candidate, the grant of any patent for the
Formulation Candidate. Forward-looking information is not a
guarantee of future performance and is based upon a number of
estimates and assumptions of management in light of management's
experience and perception of trends, current conditions and
expected developments, as well as other factors relevant in the
circumstances, including assumptions in respect of current and
future market conditions, the current and future regulatory
environment, the availability of licenses, approvals and permits,
and the utility and potential application of certain drugs,
cannabinoids, compounds and products. Although the Company believes
that the expectations and assumptions on which such forward looking
information is based are reasonable, undue reliance should not be
placed on the forward looking information because the Company can
give no assurance that they will prove to be correct. Actual
results and developments may differ materially from those
contemplated by these statements. Forward-looking information is
subject to a variety of risks and uncertainties that could cause
actual events or results to differ materially from those projected
in the forward-looking information. Such risks and uncertainties
include, but are not limited to current and future market
conditions, including the market price of the common shares of the
Company, and the risk factors set out in the Company's annual
information form dated September 3, 2021 and final short form
prospectus dated November 27, 2020, filed with the Canadian
securities regulators and available under the Company's profile on
SEDAR at www.sedar.com. The statements in this press release are
made as of the date of this release. The Company disclaims any
intent 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.
Avicanna (TSX:AVCN)
Historical Stock Chart
From Feb 2024 to Mar 2024
Avicanna (TSX:AVCN)
Historical Stock Chart
From Mar 2023 to Mar 2024