- With over 200 million people, Brazil is Latin America´s largest addressable medical cannabis market, with the potential to reach USD$1.4 billion in annual revenue (Source: New Frontier Data)
- In partnership with leading medical cannabis patient association in Brazil, a child with epilepsy becomes first Brazilian patient to receive Khiron medical cannabis product
- Khiron plans to expand Zerenia™ vertically integrated clinic model into Brazil, increasing patient access to affordable, high-quality medical cannabis products
Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF)(Frankfurt: A2JMZC), a vertically integrated medical cannabis leader with core operations in Latin America and Europe, is pleased to announce it has successfully completed its first sale of medical cannabis product in Brazil. Leveraging production, distribution, and clinical assets in Latin America, along with marketing agreements with leading pharmaceutical distributors, Khiron plans to expand its presence in Brazil, a market of over 200 million people.
"Our initial export to the Brazilian market represents an important first step toward opening a large, underserved market where patients face high barriers to access. By providing patients with affordable high-quality products, and an unparalleled patient experience, we see an opportunity to disrupt the Brazilian market and deliver on our mission of improving patients lives. Khiron is already treating thousands of patients in Colombia, Peru, UK and Germany, with positive outcomes. In due course, we plan to bring our successful Zerenia clinic model to Brazil, as we have done in Peru and Colombia," comments Alvaro Torres, CEO and Director.
Through the Company´s strategic alliance with CANNAB, a patient association that connects physicians, patients, academic institutions, and suppliers, a three-year old child from Salvador de Bahia suffering from epilepsy has received six units of Khiron high-CBD 100mg/50ml extract. The importation of Khiron's medical cannabis on behalf of the patient was authorized by ANVISA (the Brazilian National Health Surveillance Agency). The Company plans to collaborate with CANNAB to continue offering its medical products to many more patients. CANNAB expects to help over 1,200 new patients gain access to medical cannabis products during 2021. According to Prohibition Partners, the Brazilian medical cannabis user base could reach close to 3 million people in the next few years.
The Company has also established two partnerships in Brazil to increase product awareness and medical cannabis education for health care providers across the country. As previously announced, Khiron has an exclusive agreement with Medlive, a pharmaceutical and health products distributor with a network of over 3,000 clinics and hospitals in southern Brazil. In addition, the Company has signed a marketing contract with TAIMIN, a leading medical distributor focused on Rio de Janeiro, Sao Paulo and northern Brazil. Together, the two agreements provide broad regional coverage across Brazil and are intended to drive sales by expanding Khiron's network of prescribing physicians. The Company is also in discussion with several medical clinics as it seeks to expand its clinic model into Brazil.
About Khiron Life Sciences Corp.
Khiron is a leading vertically integrated medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health centres 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 with patients worldwide. The Company has a sales presence in Colombia, Peru, Brazil, Germany and the UK, and is positioned to commence sales in Mexico in 2021. 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.
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.
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