Khiron Becomes First Colombian Medical Cannabis Company to Export Live Cannabis Clones to Europe

Rhea-AI Summary

Khiron Life Sciences Corp. has achieved a major milestone by exporting its registered cannabis strains as live clones from Colombia to Europe. This represents the first shipment of medical cannabis live plant material from Colombia to Europe, enhancing access to European markets. The company is implementing an asset-light growth strategy by collaborating with contract manufacturers and distributors. By 2024, the European cannabis market is projected to reach nearly $22 billion. Khiron plans to expand its product offerings in Europe, building on its success in Latin America with over 13,000 prescriptions issued to date.

Positive

• Successfully exported registered cannabis strains from Colombia to Europe.
• First shipment of medical cannabis live plant material from Colombia to Europe.
• Plans to introduce branded extracts and dried flower products in Europe.
• European cannabis market projected to reach nearly $22 billion by 2024.

Negative

• None.

• Khiron has successfully exported its registered cannabis strains, in the form of live clones, from Colombia to Europe
• Company is executing on an asset light growth strategy in Europe by working with contract manufacturing and distribution partners to accelerate production and delivery of EU-GMP certified medical cannabis products
• Company expects to grow its existing European offering by introducing branded extracts and dried flower products, based on those already distributed in Colombia and Peru, with over 13,000 prescriptions written to date
• By 2024, the European market is expected to be worth nearly $22bn (source: Prohibition Partners)

TORONTO, March 11, 2021 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, is pleased to announce that the Company has successfully exported its registered Colombian cannabis strains, in the form of live clones, to Europe. This significant milestone represents the first shipment of medical cannabis live plant material to Europe from Colombia and is expected to accelerate access to European markets as the Company executes on its asset light growth strategy in the United Kingdom and Germany.  

Through its EU-GMP certified supply chain partners in Europe, Khiron plans to introduce branded, cannabis-based medicinal products based on those already distributed by the Company in Colombia and Peru. Over the last year, more than 13,000 written prescriptions for extracts, formulated with Khiron´s registered cannabis strains, have been issued to patients in Latin America. As clinical evidence mounts, safety and efficacy data arising from Khiron's wholly-owned clinics in Latin America is expected to serve as a cornerstone of the Company's European medical education program.

Tejinder Virk, President of Khiron Europe, commented: "Our experience in Colombia and Europe tells us that doctors require solid clinical evidence to feel confident that medical cannabis is the right treatment for their patients. By exporting our Colombian cannabis strains, we will be able to bring our Latin American extracts to European patients, resulting in wider choices for doctors, and safer, more efficacious patient outcomes. Additionally, this import provides an opportunity to accelerate speed to market, optimize our global diversified supply chain and maximize economics."

Khiron's vertically integrated seed-to-patient business model is currently experiencing tremendous growth in Colombia. To date, Khiron medical cannabis products have shown strong evidence as alternative treatments for ailments such as chronic pain, anxiety, insomnia, depression, epilepsy, migraines, and Parkinson's Disease. With the proof of concept now validated in Colombia, the Company plans to build upon its success in new markets.

About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America. Khiron is the leading medical cannabis provider in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution and sales, and international export of both low and high THC medical cannabis products. The Company has filled medical cannabis prescriptions in Colombia, Peru and the United Kingdom, and is positioned to commence sales of medical cannabis in Germany and Brazil in early 2021.

Leveraging wholly-owned medical clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and agricultural infrastructure to drive prescriptions and brand loyalty. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia, with Kuida^TM now marketed in multiple jurisdictions in Latin America, the US and United Kingdom. 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 and on Instagram @khironlife.

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.

Investor Contact:
Paola Ricardo
E: investors@khiron.ca
T: +1 (647) 275-8984

Media Contact:
Elsa Navarro
Vice President, Communications
E: enavarro@khiron.ca  

Khiron Europe:
Tejinder Virk
Europe President
E: tvirk@khiron.ca

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SOURCE Khiron Life Sciences Corp.

FAQ

What recent milestone did Khiron Life Sciences achieve regarding cannabis exports?

Khiron Life Sciences successfully exported its registered cannabis strains as live clones from Colombia to Europe.

What is the significance of Khiron's cannabis export to Europe?

It marks the first shipment of medical cannabis live plant material from Colombia to Europe, enhancing market access.

What is Khiron's growth strategy in Europe?

Khiron is executing an asset-light growth strategy by partnering with contract manufacturers and distributors.

How many prescriptions has Khiron issued to date?

Khiron has issued over 13,000 prescriptions for its cannabis products in Latin America.

What is the projected value of the European cannabis market by 2024?

The European cannabis market is expected to reach nearly $22 billion by 2024.