Khiron is the first company to receive authorization to commercialize high-THC medical cannabis magistral preparations from Colombia's National Narcotics Fund
Authorization is supplementary to the previously announced high-THC extraction and cultivation quotas from the Colombian Technical Quotas Group
Effective immediately, prescriptions will be filled through Company's ILANS clinics, with expanded distribution in Colombia as partner pharmacies receive dispensary permits
Company's ILANS clinics are fully authorized to dispense Khiron's high-THC products for various indications including chronic pain, nausea and vomiting associated with chemotherapy
TORONTO, May 20, 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, announced today that it has received authorization from Colombia's National Narcotics Fund for the sale of magistral preparation of high-THC medical cannabis. With this authorization Khiron becomes the first and, to date, only company fully authorized to manufacture and sell high-THC medical cannabis for patient prescriptions in Colombia.
"The authorization from Colombia's National Narcotics Fund demonstrates our continued ability to meet regulatory requirements, and as a result we today begin to sell high-THC medical cannabis product in Colombia. With our clinics, training and infrastructure in place our high-THC product offers an important alternative for patients living with chronic pain, nausea and vomiting associated with chemotherapy, and continues Khiron's mission to improve the quality of life for patients in Colombia and across Latin America," comments Juan Diego Alvarez, Khiron Vice-President of Regulatory Affairs.
Initial high-THC product prescriptions under the National Narcotics Fund authorization will be filled through the Company's fully owned ILANS clinics which are in receipt of high-THC dispensary authorization. Distribution will expand as Khiron's Colombian pharmacy partners receive dispensing authorization, which is anticipated in Q3 2020.
About Khiron Life Sciences Corp. Khiron Life Sciences Corp. is the dominant integrated medical cannabis company in Latin America. Khiron has core operations in Latin America, along with activity in North America and Europe, and is licensed in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The Company delivers best in class regulatory compliance, is fully authorized to manufacture and fill prescriptions for high- and low-THC medical cannabis in Colombia, and has the first approved line of CBD cosmetic products on shelf in Colombia, and available in the United States and the United Kingdom.
With a focused regional strategy and patient oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
Visit Khiron online at www.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.