Avicanna Inc (TSX:AVCN, OTCQX:AVCNF) announced that it has entered into a new sub-license agreement with VB Brands California LLC (Viola Brands) and Player Holdings LLC to exclusively commercialize its Viola-branded products in the UK, where the company has entered into a sub-licensing agreement with Vertical Pharma Resources Limited T/A IPS Pharma (IPS Pharma) for the manufacturing and distribution of the products.
The commercial-stage biopharmaceutical company said the initial line of Viola-branded products will include proprietary formulations in vaporizer formats for patients with medical authorizations through the Special Access Program.
“We are thrilled to be extending our partnership with Al Harrington and the Viola team and expanding our high-quality products to patients in an exciting new international market,” Avicanna CEO Aras Azadian said in a statement.
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“We are also looking forward to building new relationships and potential collaborations with the medical community in the United Kingdom as we have in other markets,” Azadian added.
Avicanna noted the prescription products will be commercialized in partnership with IPS Pharma, an established company with more than 20 years of experience with unlicensed medicines.
The company added that beginning in late 1Q 2023, Viola’s purpose-driven vision, rooted in social equity and social justice will be available to patients in the UK through the exclusive licensing agreement.
As well, Avicanna stated the initial products offered in the UK will include proprietary formulations of vaporizers in THC-dominant and balanced CBD:THC ratios and will be supported by medical education and training.
The push into new territory in the UK marks the expansion from the initial partnership in Canada, where Avicanna successfully launched 9 stock-keeping units (SKUs) of Viola-branded products across medical and adult use channels, according to the company.
Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments.
Auerus, Avicanna’s supply chain business unit, is based in Santa Marta, Colombia, and provides a consistent source of cannabinoid raw materials for the global marketplace.
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