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Avicanna Enters Agreement to Develop and License Cannabinoid Tablet Formulations for US Distributor Partner
Avicanna Enters Agreement to Develop and License Cannabinoid Tablet Formulations for US D...
About this update from Avicanna Inc
[{"type":"text","content":"Avicanna-CannTabletUS\n \n \n \n Avicanna Enters Agreement to Develop and License Cannabinoid Tablet Formulations for US Distributor Partner\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Sept 29, 2020\n \n \n \n \n \n The agreement showcases Avicanna's expertise in cannabinoid product development and drug delivery across several delivery mechanisms\n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAWS/\n \n \n \n TORONTO\n \n ,\n \n Sept 29, 2020\n \n /CNW/ - Avicanna Inc. (\"\n \n Avicanna\n \n \" or the \"\n \n Company\n \n \") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that it has entered into an agreement (the \"\n \n Agreement\n \n \") whereby Avicanna will develop certain hemp-derived cannabinoid-based products including sublingual and sustained released tablets intended for the sleep market ( the \"\n \n Development Products\n \n \") for a US distributor (\"\n \n USCo\n \n \").\n \n \n \n \n \n \n \n \n \n Under the Agreement, Avicanna will develop the intellectual property (the \"\n \n Development IP\n \n \") that forms the basis of the Development Products for a development fee. Based on the Development IP, USCo will manufacture, distribute and market the Development Products and will pay Avicanna an ongoing royalty payment based on the gross revenue of the Development Products. Avicanna will also have the opportunity to supply the cannabinoids for the manufacture of the Development Products.\n \n \n \n Aras Azadian\n \n , CEO of Avicanna, commented: \"We continue to demonstrate our advanced capabilities in formulation development, optimization and drug delivery for the cannabinoid industry which has utilities across C...