Khiron Corporate Update: Company Reports Accelerated Increase in Medical Cannabis Prescriptions

Rhea-AI Summary

Khiron Life Sciences Corp. (KHRNF) reported significant growth in its medical cannabis operations, highlighting a 450% increase in prescriptions filled in Q3 2020, totaling over 3,500 prescriptions. The company exceeded 9,000 monthly patient consultations in September, returning to pre-pandemic levels. It was recognized as a National Strategic Project in Colombia, facilitating new product registrations. Khiron also began sales in Peru and partnered with clinics across Colombia. Additionally, it serves patients in the UK's Project Twenty21, enhancing its market reach.

Positive

• 450% increase in medical cannabis prescriptions in Q3 2020 compared to Q2.
• Over 3,500 medical cannabis prescriptions filled.
• Monthly patient consultations returned to pre-pandemic levels, exceeding 9,000 in September.
• Declared a National Strategic Project by the Colombian Government, aiding product registrations.
• First company to sell medical cannabis in Peru under a partnership with Farmacia Universal.
• Signed partnerships with 15 clinics and health centers in Colombia.

Negative

• None.

• Khiron reaches more than 3,500 medical cannabis prescriptions filled
• Medical cannabis prescriptions increased by over 450% in Q3, compared to Q2 of 2020
• Khiron's clinics exceeded 9,000 monthly patient consultations in September, marking a return to pre-pandemic monthly levels, supported by the launch of telehealth consultations
• Khiron was declared a National Strategic Project by the Government of Colombia in September, accelerating its ability to register and introduce new SKUs in the medical cannabis and consumer-packaged goods categories
• Khiron became the first company to sell medical cannabis in Peru, introducing its new CBD brand Alexin^TM, sold under its previously announced agreement with Farmacia Universal, the largest compounding pharmacy in Peru
• In September, the Company signed partnerships with 15 clinics and health centres in Colombia, extending education and sales reach further across the country
• As the exclusive LatAm provider, Khiron began sales of medical products to patients participating in Project Twenty21 in the UK, the largest medical cannabis patient registry in Europe
• Medical cannabis e-learning platform introduced in UK in partnership with the Medical Cannabis Clinicians Society, an independent, clinician-led organization sharing guidance to lead the medical cannabis conversation in the UK
• Khiron's e-learning program accelerates medical cannabis knowledge for doctors participating in Project Twenty21, which now includes over 9,000 registrants

TORONTO, Oct. 9, 2020 /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 provide a corporate update on its global medical cannabis operations, including accelerating growth of 450% in its Colombian medical cannabis prescriptions, first sales in the UK, and entry into the Peruvian market. 

"We have been saying for some time that we are in the execution phase of our business strategy. Measurable developments over recent weeks substantiate our approach and importantly, the ability of our team to execute on the plan. Despite the impact of the global pandemic, our medical cannabis sales are seeing accelerated growth in Colombia, with more than 3,500 prescriptions now filled.  In addition, we supplied medical cannabis to Project Twenty21 participants in the UK, and began medical cannabis sales in Peru. Further, as a result of our timely adoption of technology-based solutions, clinic consultations returned to pre-pandemic monthly levels in September," comments Alvaro Torres, Khiron CEO and Director.

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 cannabis company 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 Peru and has a presence in Mexico, Uruguay, UK, Spain and also in Germany, where it is positioned to begin sales of medical cannabis.

Leveraging its first-mover advantage and patient-oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. 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 UK. 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.

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SOURCE Khiron Life Sciences Corp.

FAQ

What was the percentage increase in Khiron's medical cannabis prescriptions in Q3 2020?

Khiron reported a 450% increase in medical cannabis prescriptions in Q3 2020 compared to Q2.

How many medical cannabis prescriptions has Khiron filled?

Khiron has filled over 3,500 medical cannabis prescriptions.

What milestone did Khiron achieve in September 2020?

In September 2020, Khiron exceeded 9,000 monthly patient consultations, returning to pre-pandemic levels.

What recognition did Khiron receive from the Colombian Government?

Khiron was declared a National Strategic Project by the Colombian Government in September 2020.

What is Khiron's latest market expansion?

Khiron became the first company to sell medical cannabis in Peru, introducing its CBD brand Alexin.