TORONTO, May 04, 2023 (GLOBE NEWSWIRE) — 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 Master Service Agreement (“MSA”) with Northern Green Canada (“NGC”) a federally-licensed EU GMP-certified cannabis producer to operationalize MyMedi.ca medical cannabis care platform’s logistics and fulfilment infrastructure.
Through the MSA, NGC will provide the MyMedi.ca medical cannabis care platform with regulatory support and access to appropriate Health Canada licenses in addition to services related to inventory management and quality assurance. NGC will also contribute to the MyMedi.ca medical cannabis care platform’s formulary of products with its own EU GMP-certified proprietary genetics and finished products.
“We look forward to working with NGC to support patients in their journey and grow our medical cannabis care platform,” said Aras Azadian, CEO, Avicanna. “NGC’s established infrastructure and quality assurance expertise gives us confidence that they are the right choice as we aim to build upon the foundation initially developed by the Medical Cannabis by Shoppers team and further establish confidence in medical cannabis solutions by providing education, expanding coverage, and striving towards increased consistency in services.”
“NGC has established a solid international footprint into the medicinal cannabis space, and we are thrilled to partner with Avicanna to expand our domestic business to reach more patients in Canada,” said Lisa McCormack, Northern Green Canada’s President, and CEO.
Shoppers Drug Mart® (“Shoppers”) has partnered with Avicanna, to transition its Medical Cannabis by Shoppers business and provide its patients access to a complete medical cannabis platform through MyMedi.ca. With the support of NGC, Avicanna is establishing MyMedi.ca as a comprehensive resource to support the medical community and the tens of thousands of patients currently authorized to access the Medical Cannabis by Shoppers platform.
Since the initial announcement between Shoppers and Avicanna, the Company has been coordinating with all stakeholders including the medical community, specialty clinics and leading Canadian licensed producers to ensure continuation of care for existing patients as they transition to MyMedi.ca. Additionally, Shoppers and Avicanna have collaborated to develop a seamless process related to the patient consent and transfer that will minimize effort required by patients and their healthcare providers.
To its knowledge, the Company carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.
MyMedi.ca is Avicanna’s medical cannabis care platform that is formed with the aim to better serve medical cannabis patients’ needs and enhance the patient journey. MyMedi.ca will feature scientifically curated products, patient support programs and educational resources to support the incorporation of medical cannabis into health care regimens.
About Avicanna Inc.
Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:
- Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid 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 formulary is marketed with consumer, patient and medical-community education and training.
- Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address 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.
- MyMedi.ca Medical Cannabis Care Portal: An online platform designed to provide access to medical cannabis and enhance the patient journey through focus on patient education in areas such as harm reduction, providing specialty services to distinct patient groups such as veterans and reimbursement services for public and private providers. MyMedi.ca has pharmacist-led patient support programs and comprehensive training programs for the medical community along with a scientifically curated and diverse formulary of products with competitive pricing in collaboration with Canadian licensed producers.
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SOURCE Avicanna Inc.
About Northern Green Canada Inc.
Northern Green Canada Inc. is a leading Canadian cannabis company supplying premium quality products to international and domestic markets. A federally licensed and EU GMP-certified producer of medical cannabis, the company operates out of a world-class facility focused on growing high quality cannabis and providing pharmaceutical-grade medications for a better quality of life. Northern Green currently ships a carefully curated portfolio of therapeutic cannabis products to more than 20 global partners while concurrently servicing our domestic patient base. Our product development team, along with our global partners, is developing pharmaceutical products that make it easier for patients to benefit from the use of medical cannabis. Through education, research, and development, we advance the cultivation and science of medical cannabis. NGC is committed to a positive future by producing its products with minimal waste and environmental impact. Find more information on our website www.northerngreencanada.com or contact Mary Mill by email at email@example.com
For more information about Avicanna, visit our website, contact Ivana Maric by email at firstname.lastname@example.org or follow us on social media on LinkedIn, Twitter, Facebook, or Instagram.
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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 news release may be identified using words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. 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 March 31, 2022, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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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