Avicanna Inc., a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that, through its majority-owned Colombian subsidiary Santa Marta Golden Hemp S.A.S. (“SMGH”), it has completed its first commercial export of 20 kg of high CBD full spectrum psychoactive cannabis extracts to Brazil in connection with the previously announced three (3) year master supply agreement that SMGH executed with a leading Brazilian pharmaceutical in July, 2021.
This marks the 11th country to which Avicanna has successfully completed export of Aureus-branded products in what stands as a demonstration of the Company’s capabilities, innovation, and regulatory expertise. This export also validates the emergence of the global cannabinoid sector with reliance on quality, traceability and sustainability that Avicanna’s Aureus products offer.
With a forecasted total market size of approximately USD $9 billion by 20251, Brazil is expected to be one of the biggest cannabis markets globally and the largest in Latin America, particularly for medicinal cannabis products. The Cannabis Extracts will be used in the production of several products which will be registered and commercialized in Brazil through RDC 327/19 that regulates manufacturing, registration, importation and dispensing of cannabis-derived products.
Lucas Nosiglia, President of Avicanna LATAM, commented: “This export represents a key milestone for our team and a validation of our capabilities as we continue to lead the way with our products and have now entered our 11th country with the Aureus brand. The export to Brazil also confirms the regulatory pathway and acts as a proof of concept in the largest market in South America where we aim to establish long-lasting supply relationships with our Brazilian pharmaceutical partners.”
To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.
1 Source: Passport, Euromonitor International, Cannabis in Latin America, July 2021
Additionally, under the Aureus™ brand, standardized cannabis extracts and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably and include a range of extracts of CBD, THC and rare cannabinoids such as CBG.
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.