Global Medical Cannabis Leader Khiron Opens New Zerenia™ Clinic and Retail Pharmacy in Colombia

Rhea-AI Summary

Khiron Life Sciences Corp. (TSXV:KHRN)(OTCQX:KHRNF) has announced the opening of a new Zerenia clinic and retail pharmacy in Bogota, Colombia. This expansion aims to enhance patient care following the Colombian government's mandate for insurance coverage of medical cannabis products. The new clinic can handle 40,000 consults annually, capitalizing on a market leadership position with Q1 2022 sales volume up 280% year-over-year. The retail pharmacy will offer access to medical cannabis beyond the clinic network, further solidifying Khiron's leadership in the Colombian market.

Positive

• Q1 2022 volume sales reached 21,400 units, a 280% increase YoY.
• New Bogota clinic adds over 20% patient capacity to the existing network.
• Clinic located near insurer referral centers, with 85% of patients covered by insurance.

Negative

• None.

Continues market leadership in Colombia, Latin America's only country with universal health coverage for medical cannabis

• Market leader in the Colombian medical cannabis market, with Q1 2022 volume sales exceeding 21,400 units, up 280% YoY and more than 40% of all 2021
• New clinic continues Khiron's unique patient acquisition and retention strategy, adding more than 20% of patient capacity to existing network
• Located in El Ensueño shopping mall in Bogota, adjacent to various insurer´s referral centers. In Q1 2022, more than 85% of all patients receiving Khiron´s medical cannabis products in Colombia were covered by insurance programs
• Opens its first retail pharmacy, fully licensed to dispense High and Low THC medical cannabis products to patients outside the Company´s own clinic network

TORONTO, April 11, 2022 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV:KHRN)(OTCQX:KHRNF)(Frankfurt:A2JMZC), a global medical cannabis leader with core operations in Latin America and Europe, is pleased to announce the opening of a new Zerenia™ clinic location and a new retail pharmacy in Colombia.

Following the announcement at the beginning of the year by the Government of Colombia on mandatory insurance coverage for medical cannabis products, Khiron opens a new clinic location in the city of Bogota, with a maximum annual capacity of 40,000 consults per year. The new clinic, located in El Ensueño shopping mall in Bogota´s fastest growing districts with more than 850,000 people, will allow the Company to continue is market leadership in Colombia and offer more services to existing and current patients.

In addition, the Company has opened its first retail pharmacy location within this shopping center. This pharmacy will allow the Company to sell medical cannabis products to patients outside its own Zerenia^TM network and dispense High and Low THC medical cannabis to insurance companies in the country.

Alvaro Torres, Khiron CEO and Director comments, "Khiron has become a clear leader in the Colombian medical cannabis market because of its unique go-to-market strategy, anchored in our Zerenia^TM clinic model. This new expansion within Bogota capitalizes on the Colombian government's decision on mandatory insurance coverage, and we aim to get closer to our patients and insurers, to improve quality of life. With our new retail pharmacy, we aim to be able to offer more access to patients outside our clinic network and to provide a dispensing alternative to insurers, thereby increasing our market leadership within Colombia. As we continue to grow, our leadership is expanding to Latin America and Europe, thanks to our ability to generate evidence, offer high quality products, and create an excellent patient-focused healthcare service that improves quality of life".  

About Khiron Life Sciences Corp.

Khiron is a leading integrated international medical cannabis company with core operations in Latin America and Europe. Leveraging medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, and high-quality product portfolio, to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany, UK, and Brazil and is positioned to commence sales in Mexico. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at investors.khiron.ca

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

Cautionary Notes

Forward-Looking Statements

This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

 

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SOURCE Khiron Life Sciences Corp.

FAQ

What are the recent developments at Khiron Life Sciences Corp. in Colombia?

Khiron has opened a new Zerenia clinic and retail pharmacy in Bogota, expanding its services in the Colombian medical cannabis market.

How much have Khiron's sales increased in Q1 2022?

Khiron's Q1 2022 volume sales increased by 280% year-over-year, reaching 21,400 units.

What is the capacity of Khiron's new clinic in Bogota?

The new clinic in Bogota has a maximum capacity of 40,000 consults per year.

What percentage of Khiron's patients are covered by insurance?

In Q1 2022, over 85% of all patients receiving Khiron's medical cannabis products in Colombia were covered by insurance.

What is the significance of the new retail pharmacy opened by Khiron?

The retail pharmacy allows Khiron to sell medical cannabis products to patients outside its clinic network, increasing accessibility.