TORONTO, Feb. 07, 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 new sub-license agreement with VB Brands California LLC (“Viola Brands”) and Player Holdings LLC to exclusively commercialize its Viola-branded products in the United Kingdom territory (“UK”) where the company has entered into a sub-licensing agreement with Vertical Pharma Resources Limited T/A IPS Pharma (“IPS Pharma”) for the manufacturing and distribution of the products.
To facilitate the expansion, Avicanna has entered a sub-licensing agreement with IPS Pharma, a local pharmaceutical distribution company with more than 20 years of experience with unlicensed medicines to support the launch of the product offerings. The initial products will be manufactured in the UK under GMP guidelines and distributed through IPS’ Pharma’s existing network of pharmacies via medical prescription under the Special Access Program.
“We are thrilled to be extending our partnership with Al Harrington and the Viola team and expanding our high-quality products to patients in an exciting new international market. We are also looking forward to building new relationships and potential collaborations with the medical community in the United Kingdom as we have in other markets,” stated Aras Azadian.
Al Harrington, NBA veteran, Founder & CEO of Viola Brands commented, “I was inspired to start Viola when I saw how cannabis was able to heal my grandmother. Since then, our mission has been to help and empower as many people as possible and I’m so proud we’re now able to share our products with patients in the UK, with the help of our partners at Avicanna.”
The CBPM definition is necessarily broad to take account of the range of preparations which are cannabis-based that have been used for therapeutic purposes and to ensure that raw products/ingredients and intermediate products are captured. This is essential to ensure that where there is a clinical need, a patient will be able to access appropriate cannabis-based medicines and/or products can be made to meet any prescription.1
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.
Click to watch Avicanna’s Corporate Video 2022
SOURCE Avicanna Inc.
About IPS Pharma
IPS Pharma is an independent pharmaceutical services company operating in three main areas in the UK: Unlicensed medicines (Unlicensed Imports and Specials), Clinical Trials and Special Obtains. With more than 20 years in the market IPS has become a leading pharmaceutical manufacturer in the UK with the capability to deliver over 20,000 formulations for unlicensed medicines as well as Investigational Medical product (IMP) and comparators for clinical trials. IPS is audited and licensed by the Medicines and Healthcare products Regulatory Agency (MHRA) and is also a member of the Association of Pharmaceuticals Unlicensed medicines Manufacturers (APSM).
Founded in 2011 by NBA veteran Al Harrington, Viola is one of the nation’s leading producers and licensed wholesalers of premium quality cannabis products. The brand is named after and inspired by Al’s grandmother who suffers from glaucoma and diabetes, finding solace in cannabis remedies. Viola has integrated the latest cutting-edge technology with its own proprietary procedures designed for every stage of the cultivation, extraction and production process. The company is known for its wide variety of product offerings, from high-quality flower to premier butane extracts and operates in California, Colorado, Michigan, Oregon, and Oklahoma.