TORONTO, Dec. 20, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products, is pleased to announce the launch of re+PLAY sports recovery-based CBD brand through partnership with Harrington Wellness, founded by NBA veteran Al Harrington.
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re+PLAY is a performance-based CBD wellness brand built with the fundamentals and combined knowledge of scientists, athletes, doctors, and certified athletic trainers. Avicanna and Harrington Wellness have worked together rigorously on the research, development, and optimization of these CBD-based topicals inspired by the athletic and sports community. These CBD-based topicals utilize Avicanna’s proprietary and evidence-based deep tissue technology for cannabinoid delivery and have been curated with the support of Harrington Wellness’ deep understanding of the needs of professional athletes.
“We’re very excited to work with our partners at Avicanna to bring our powerful line of performance recovery based topicals to Canada,” stated Al Harrington, CEO of Harrington Wellness.
The products are now available across adult use channels in Alberta and expected to launch Q1 2022 in Ontario and other provinces. Additionally, the products will be made available to patients through medical channels in partnership with Medical Cannabis by Shoppers nationwide in early January as well.
“We are thrilled to be expanding our wellness product offerings within the Canadian marketplace and to be introducing the first sports focused THC-Free line of functional products. This line has been curated through this world class partnership with the Harrington Wellness team and been in development since 2019.”
Initial product offerings include:
- Muscle Rub – A water-based emulsion that combines 500 mg of pure Cannabidiol (CBD) with complementary natural active ingredients including menthol, camphor, and the terpene beta-caryophyllene. The intense formulation offers a warming sensation upon application and is formulated to enhance delivery into deeper layers of skin.
- Total Body Cream – A water-based emulsion that combines 250 mg of pure CBD with complementary natural active ingredients including menthol, beta-caryophyllene and eucalyptus essential oil for an immediate cooling sensation with a light scent.
- Foot + Ankle Cream – A rich cream that combines 500 mg of pure CBD with soothing colloidal oatmeal as well as antimicrobial tea tree and spearmint essential oils to provide a cool but gentle sensation on feet. This fast-absorbing, lightly scented cream is formulated to enhance delivery into deeper layers of skin.
re+PLAY is a performance and recovery-based CBD brand that delivers the natural and powerful benefits of CBD through advanced formulations that have undergone extensive research and development to meet the quality and consistency standards that athletes and physicians can be confident in. The line is THC-Free and endorsed by doctors and used by both professional athletes and certified athletic trainers. re+PLAY was founded by NBA Veteran Al Harrington, renown trainer Joe Abunasser and Dr. Sanford Kunkel, the team physician for both the Indiana Pacers and the USA national basketball team.
Avicanna is a Canadian commercial-stage biopharmaceutical company established in cannabinoid research, development, and evidence-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:
- Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand, or Magisterial Preparations, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training. Avicanna’s medical and wellness product portfolio also forms the foundation of the Company’s pharmaceutical pipeline with the contribution of the formulations that form the basis of the products as well as the data generated from sales and participation of the products in real world evidence studies.
- CBD Derma-Cosmetic Products: Marketed under the Pura H&W™ or Pura Earth™ brands, these registered, clinically tested, derma-cosmetic products include a portfolio of functional CBD topical products.
- Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates which are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox) is in the drug registration stage in South America.
- Cannabis Raw Materials, Seeds, and Bulk Formulations: Marketed under the Aureus™ brand, the Company’s raw material business has successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full spectrum extracts, and cannabinoid distillates, isolated cannabinoids (CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids), and bulk formulations derived from hemp and cannabis cultivars through its sustainable, economical, and industrial-scale subsidiaries based in Colombia. The majority of the Aureus products are produced at Santa Marta Golden Hemp S.A.S. (“SMGH”), the Company’s majority-owned subsidiary, which is also Good Agricultural and Collection Practices (“GACP”) certified and has United States Department of Agriculture (“USDA”) National Organic Program certification for its hemp cultivar.
SOURCE Avicanna Inc.
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Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, the availability of licenses, approvals and permits, and the utility and application of certain drugs and products. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.