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- Avicanna launches its initiative to supply major Canadian hospitals with its advanced RHO Phyto medical cannabis products supported by education, training, and patient support programs.
- Seven RHO Phyto products will be available for purchase at Sunnybrook Hospital 's Odette Cancer Centre pharmacy by patients that have been issued a written order from an authorized health care practitioner.
- The collaborative program is aimed at setting a gold standard for medical cannabis care by establishing a complete cannabis consultation and dosing regimen provided through the expertise of Avicanna's medical team and the Sunnybrook Hospital pharmacy team.
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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 it has entered into a relationship agreement (the " Agreement ") whereby Sunnybrook Health Sciences Centre (" Sunnybrook Hospital ") will distribute the RHO Phyto products to patients with appropriate medical authorization at Odette Cancer Centre pharmacy. This first of its kind collaboration will focus on increasing healthcare provider and patient education on medical cannabis products and provide patients with a one stop process for accessing plant-based cannabis for medical use, in coordination with their hospital healthcare team. Pursuant to the Agreement, Avicanna and Sunnybrook Hospital which is one of Canada's leading hospitals and research centres have agreed to collaborate on the development of an education program to educate patients and train health care professionals about the RHO Phyto product formulary.
The growing demand for access to standardized cannabinoid medicine in the medical community, coupled with the advancement of cannabis access regulations permits Canadian hospitals with appropriate infrastructure to store and dispense qualified medical cannabis products such as the RHO Phyto offerings. Avicanna and Sunnybrook Hospital aim to establish a gold standard of care for cannabinoid-based medicine by providing support and educating and training physicians, pharmacists and patients on the formulary of the RHO Phyto products. This education initiative will allow for a personalized medicine approach with the support and consultation of both the patient's physicians and pharmacists to track patient outcomes and promote the safe and consistent use of cannabinoid-based medicines.
"This is an incredibly significant development for Avicanna as it validates our medical focus and credibility with the healthcare community. This first of its kind collaboration with a major Canadian medical institution substantiates the need and importance of a comprehensive cannabinoid-based medicine program that includes standardized, inhalation-free, and accurately dosed products that are supported by education and patient support programs. We look forward to the collaboration with the Sunnybrook Hospital team, improving on the learnings and pioneering the standard of care with cannabinoid-based medicine that could improve patient outcomes, quality of life and increase the medical community's confidence in cannabinoid-based medicine," stated Aras Azadian, CEO of Avicanna Inc.
"Patients have questions about and want access to plant-based cannabinoids, and that requires healthcare professionals to become knowledgeable about the use of cannabinoids for medical purposes," said Carlo DeAngelis, pharmacist and researcher at Sunnybrook Hospital's Odette Cancer Centre. "Our primary goal is patient safety. This collaboration will help us ensure patients have access to plant-based cannabinoid products of high quality as well as provide education focused on dosing, monitoring of symptoms and effects on concurrent anti-cancer treatments."
The RHO Phyto products will be supplied to Sunnybrook Hospital through Avicanna's exclusive medical partnership with Medical Cannabis by Shoppers TM online platform who will be distributing the RHO Phyto products and supporting Avicanna's education and training programs.
About RHO Phyto
RHO Phyto is Avicanna's unique formulary of products that are backed by scientific rigour and an evidence-based approach to meet the quality and consistency standards that patients and the medical community should expect of medical cannabis products. The RHO Phyto product line consists of oral, sublingual, and topical delivery systems offered in a range of CBD only and CBD-THC ratios. All RHO Phyto formulations are designed to maintain the stability of the cannabinoids, and provide accurate dosing. Through pre-clinical studies, these formulations have been optimized for increased and faster absorption of cannabinoids relative to formulations available in the marketplace.
About Sunnybrook Health Sciences Centre
Sunnybrook Health Sciences Centre is inventing the future of health care for the 1.2 million patients the hospital cares for each year through the dedication of its more than 10,000 staff and volunteers. An internationally recognized leader in research and education and a full affiliation with the University of Toronto distinguishes Sunnybrook as one of Canada's premier academic health sciences centres. Sunnybrook specializes in caring for high-risk pregnancies, critically-ill newborns and adults, offering specialized rehabilitation and treating and preventing cancer, cardiovascular disease, neurological and psychiatric disorders, orthopaedic and arthritic conditions and traumatic injuries. The Hospital also has a unique and national leading program for the care of Canada's war veterans.
About Avicanna Inc.
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna's team of experts have developed and commercialized several industry leading product lines, including:
- Pura Earth™ or Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
- RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™. RHO Phyto is the first strictly medical formulary of advanced "Cannabis 2.0" products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.
With ongoing studies on its derma-cosmetic (branded as Pura Earth or Pura H&W), medical cannabis (branded as RHO Phyto) and a pipeline of pharmaceutical products, Avicanna's dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company's vision since its inception. Furthermore, Avicanna's commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna's Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.
SOURCE Avicanna Inc.
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For more information about Avicanna, visit www.avicanna.com , call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com .
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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 ability of the Company to establish a complete cannabis consultation and dosing regimen, the ability of the Company and Sunnybrook to establish a gold standard of care for cannabinoid-based medicine by providing support and educating and training physicians, pharmacists and patients on the formulary of the RHO Phyto products, the likelihood that the Company's and Sunnybrook's education initiative will allow for a personalized medicine approach to track patient outcomes and promote the safe and consistent use of cannabinoid-based medicines, the ability of Sunnybrook to purchase the RHO Phyto products from Medical Cannabis by Shoppers TM . 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; and the availability of licenses, approvals and permits.
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 April 15, 2020 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.
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