Khiron Updates Zerenia™ Expansion Program; Announces Plans to Open Three Additional Satellite Clinics in Colombia by End of Q2

Rhea-AI Summary

Khiron Life Sciences Corp. announced the opening of two new satellite Zerenia™ clinics in Cali and Bucaramanga, Colombia, expanding its network to six clinics. This expansion follows a successful start to 2021, with paid prescriptions surpassing total prescriptions from 2020. The company plans to open additional satellite clinics throughout Colombia, enhancing patient access to medical cannabis. CEO Alvaro Torres aims to reach 1 million patients by 2024, leveraging positive feedback from existing clinics to support this growth.

Positive

• Paid prescriptions in Colombia for the first 2.5 months of 2021 exceeded total prescriptions for 2020.
• Successful patient acquisition through satellite clinics with plans for further expansion.
• The company aims to reach 1 million patients by 2024, indicating strong growth potential.

Negative

• None.

• Zerenia™ expansion follows successful start to 2021, with paid prescriptions in first 2.5 months of the year exceeding total 2020 prescriptions in Colombia
• Satellite clinics proving an effective patient acquisition model; in first two months of 2021, a significant number of new paying patients were acquired through Khiron's satellite clinics
• Khiron recently opened two additional satellite Zerenia™ clinics in major metropolitan centres of Cali and Bucaramanga in Colombia (over 2.5 million population combined), bringing the Company's total health centre and clinic count to six
• As the Company expands its vertical integration model, it plans to open additional satellite clinics in Colombia over the course of the year, in addition to the previously announced clinic strategy in Mexico

TORONTO, March 18, 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, today announces that it has opened two additional satellite Zerenia™ clinics in Colombia following the success of its initial small format clinic in Medellin. In line with the Company's stated strategy, the new satellite clinics in Cali and Bucaramanga opened their doors to patients in early March, 2021. The satellite clinics are located in high-traffic, medical-hub neighbourhoods and are supported by Khiron's flagship health centres in Bogota.

The new Zerenia™ locations expand Khiron's clinic network to six, improving access to the Company's clinic services and medical cannabis products for patients across the country. Patients in Cali and Bucaramanga may now connect with medical specialists trained in the ethical, safe, and responsible prescription of cannabis-based medications in person or through Khiron's Doctor Zerenia™ telemedicine platform.

"We are off to a great start in 2021 and the Zerenia satellite clinic model is proving to be an exceptional platform for reaching new patients. The rapid expansion of clinics is helping Khiron reach more patients in more places, more conveniently, in these cities. With the opening of two new satellite clinics in Cali and Bucaramanga, Khiron has taken another step toward increasing patient access to medical cannabis, with the objective of improving the quality of life for thousands of people in Colombia. Our unique and proven business model will support our goal of reaching 1,000,000 patients by 2024 in a sustainable manner," comments Alvaro Torres, Khiron CEO and Director.

Based on positive physician and patient feedback at Khiron's initial satellite clinics, the Company now plans to expand its clinic presence in major metropolitan centres throughout Colombia. Three additional satellite Zerenia™ clinics, which will focus on treating pathologies such as chronic pain, anxiety, insomnia, depression, headache, epilepsy, and Parkinson's Disease, are expected to open over the course of the year.

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 UK, 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 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.

Investor Contact: 
Paola Ricardo
E: investors@khiron.ca
T: +1 (833) 275-8984

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

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

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SOURCE Khiron Life Sciences Corp.

FAQ

What is the significance of Khiron's new Zerenia™ clinics in Colombia?

The new Zerenia™ clinics in Cali and Bucaramanga expand Khiron's network to six, improving access to medical cannabis for patients.

How many satellite clinics does Khiron plan to open in 2021?

Khiron plans to open three additional satellite clinics in Colombia by the end of the second quarter of 2021.

What is Khiron's goal regarding patient outreach by 2024?

Khiron aims to reach 1 million patients by 2024, enhancing its growth strategy in the medical cannabis sector.

What has been the performance of Khiron's clinics in early 2021?

In the first 2.5 months of 2021, Khiron's paid prescriptions in Colombia exceeded total prescriptions for all of 2020, demonstrating strong demand.