Exclusive agreement with Medlive, a pharmaceutical and health products distributor with network of over 3,000 clinics and hospitals in southern Brazil
Company's medical cannabis products will be marketed through Medlive network of doctor offices, clinics, hospitals and governmental institutions
Medical education, marketing activities and sales are planned to start in Q3 2020
Brazil represents the largest addressable market in Latin America with a population of approximately 212 million
TORONTO, April 30, 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, announces that it has entered into an exclusive agreement with Medlive, a leading marketer and distributor of pharmaceutical products to clinics, hospitals and pharmacies in southern Brazil. Through this agreement physicians in Medlive's extensive network will receive medical education and training related to Khiron products.
"Brazil represents one of the most important markets in Latin America, with its massive population and its acceptance of medical cannabis. Together with Medlive we are now positioned to begin educating health professionals and driving prescriptions for our medical cannabis products, and ultimately focus on our objective to help patients in Brazil who can benefit from medical cannabis," comments Alvaro Torres, Khiron CEO and director. "Medlive is recognized as an important medical marketing organization in the region and we could not have a better partner to help us achieve these goals."
On November 29th, 2019 Khiron announced it had received authorization from the Colombian Technical Quotas Group ("TQG") for the commercialization of medical use high THC cannabis for domestic and export purposes, including to Uruguay. On February 7th, 2020 the Company announced authorization from the Brazilian Health Regulatory Agency (ANVISA) for Khiron medical cannabis product to be imported for use on an individual patient basis.
The medical cannabis market in Brazil is anticipated to grow to 3.4 million patients and a market of US$1.4 Billion within three years, including serving patients with chronic pain conditions (Source: New Frontier Data 2017). Further, total requests for medical cannabis have tripled since 2015 (Source: ANVISA) and today, approximately 1,100 physicians are now prescribing medical cannabis to their patients.
"With the rapid globalization of legalized medical cannabis, including here in Brazil, there is an important need to bring product education and information to the country's health professionals. When medical professionals think of medical cannabis here, they think of Khiron. Khiron was the best choice to have as a partner, and to bring their highly regarded product research and development expertise to our health network," comments Adriana Marques, Medlive Managing Director.
About Medlive Medlive is a leader in the distribution of medical and hospital products in the south of Brazil, serving more than 3,000 hospitals and clinics in the public and private sectors. Medlive delivers efficient, effective and agile results through a wide portfolio of medicines and nutritional products, and with solutions that are applied across the supply chain for conditions including cancer treatments and clinical nutrition, among others.
Medlive is a committed commercial partner, understanding needs and with technical and scientific knowledge in the areas of pharmacology, nursing and nutrition that make the company an important resource in the distribution of medicine products. The company is able to move at speed to support the healthcare community in the south and southeast regions, and with capacity for the entire Brazilian territory. Visit http://medlive.com.br
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, has the first approved line of CBD cosmetic products on shelf in Colombia, and is fully authorized to manufacture high- and low-THC medical cannabis, and to fill prescriptions for low-THC medical cannabis in the country.
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.
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.
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