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Toronto, Ontario–(Newsfile Corp. – April 25, 2023) – Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQB: KHRNF) (FSE: A2JMZC) (“Khiron” or the “Company”), welcomes the clear affirmation of the Federal Joint Committee (G-BA) regarding the future of medical cannabis in Germany as a treatment option reimbursed by statutory health insurance (SHI). The main task of the G-BA is to define the scope of health care and to decide which services are covered by the SHI. Under the German regulations for medical cannabis:
- All doctors are authorized to prescribe. The more than 50.000 general practitioners provide a large part of patient care in Germany
- Authorization to patients granted before the new regulations continue to apply
- Only new initial medical cannabis prescriptions as well as fundamental changes in therapy require approval by health insurance funds. These may only be refused in justified exceptional cases
- Reimbursements apply for both dry-flower and extracted medical cannabis products
The decision of the G-BA, follows up on a Health Committee hearing where experts reemphasized the need to further simplify access to medical cannabis, including the complete removal of the approval requirement from SHI.
In Germany, Khiron sells its comprehensive product portfolio directly to pharmacies through its EU-GMP distribution centre Pharmadrug Production GmbH, which was acquired last year. Khiron Europe offers in Germany and the UK a complete suite of products carefully designed to meet all needs from patients and prescribers, covering the main routes of administration for the most individualized therapy possible. Its latest addition is KHIRIOX 12/14, the company’s flagship full-spectrum cannabis extract, which is the most prescribed THC-containing formulation in Latin America with nearly 50,000 bottles distributed to date. Because of its long-standing trajectory, KHIRIOX 12/14 is backed by Khiron’s extensive experience in gathering real-world clinical data, which grants prescribers access to clear guidelines to confidently design a treatment pathway and maximize patient-reported outcomes and satisfaction.
Franziska Katterbach, President of Khiron Europe, comments: “In recent months, there has been a lot of discussion in Germany about the future of medical cannabis – especially with regards to the reimbursement of dried flowers and extracts. This important debate was often overshadowed by the discussion about the legalisation of recreational cannabis. It is therefore even more important that patients’ access to reimbursed medical cannabis products, including our Khiron product portfolio, has been confirmed while the regulatory framework for recreational cannabis remains under discussion. This illustrates the outstanding importance of medical cannabis: Patients First!”
About Khiron Life Sciences Corp.
Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, the United Kingdom, Switzerland, Peru, and Brazil. The Company is led by its co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and board of directors.
Visit Khiron online at https://investors.khiron.ca.
Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/
Investor Contact:
E: investors@khiron.ca
Media Contact:
Peter Leis,
Europe Communications
E: pleis@khiron.ca
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Cautionary Statement Regarding Forward-Looking Information
This press release may contain “forward-looking information” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to business strategy. Forward-looking information and statements contained in this news release reflect management’s current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, the expected benefits to be realized by Khiron’s business as a result of the acquisition of the Target, and assumptions regarding market opportunities in the jurisdictions in which the Company operates and where it seeks to operate.
Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron’s most recent annual information form which is available on Khiron’s SEDAR profile at www.sedar.com.
As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.
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This article contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, “believes”, “intends”, “anticipates”, “does not anticipate”, “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, state, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal, state and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the impact of the Russia-Ukraine conflict on the global economy; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws
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