Benzinga | Jan 14, 2022 07:32AM EST

Avicanna Reports Master Supply Deal With Knop Labs For Range OF Cannabinoid-Based Active Pharma Ingredients For Manufacturing, Commercialization, No Terms Disclosed

Expansion and fortification of relationship since 2020 with established pharmaceutical company in Chile

Supply of Avicanna's active pharmaceutical ingredients for existing commercial and pipeline of pharmaceutical products in South America

TORONTO, Jan. 14, 2022 (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 that through its majority owned subsidiary Santa Marta Golden Hemp ("SMGH") the company has entered into a Master Supply Agreement with established Chilean pharmaceutical company Knop Laboratorios S.A. ("Knop") to supply a range of cannabinoid-based active pharmaceutical ingredients ("API") for the manufacturing, and commercialization of proprietary cannabinoid-based pharmaceutical products in Latin America.

Since 2018, Avicanna and Knop have developed a collaborative enterprise which has led to commercial imports of Avicanna?s API, including CBD and THC, which has been used in the development, production and commercialization of several cannabinoid-based products. Through this Master Supply Agreement between SMGH and Knop the two companies are further fortifying their commitments to a fruitful partnership and preparing for industrialization of Knop's cannabinoid-based pharmaceuticals manufactured using Avicanna's organic, sustainable inputs.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e298f331-9e1a-46af-af2a-e7dd7a620ad4