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Avextra Successfully Exports Oil-Based Cannabis Medicines to the United Kingdom

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  • Avextra successfully exported EU-GMP standardised cannabis extracts manufactured in its German facility to its distribution partner in the United Kingdom
  • Export is a significant milestone that validates the regulatory pathway for medical cannabis products from Germany
  • Avextra will continue to work with its partners to serve patients across the United Kingdom and across Continental Europe
  • Avextra retains an ownership stake in Integro Medical Clinics in London, as a strategic asset in the UK market

BENSHEIM, Germany, Feb. 08, 2023 (GLOBE NEWSWIRE) — Avextra AG (“Avextra” or the “Company”), a leading vertically-integrated manufacturer of Cannabis-based medicines located in Germany, is pleased to announce the successful export of its standardised cannabis extracts to the United Kingdom (“UK”). The UK is the world’s largest exporter of Cannabis-based medicines and therefore one of the strictest jurisdictions in the world for their imports.

This milestone marks a significant step forward for the Company as it validates the regulatory pathway for the UK market and provides patients access to Avextra’s EU-GMP certified Cannabis-based medicines.

The Company’s standardised cannabis extracts, which are manufactured using the highest quality starting material and the latest extraction techniques, have been met with positive feedback from patients and healthcare professionals alike. Avextra’s commitment to producing safe and effective products has been recognised by regulatory bodies, allowing the company to enter new markets and reach more patients in need.

Avextra has an ownership stake in Integro Medical Clinics, a medical cannabis clinic located in London, UK. This clinic provides Avextra the opportunity to better understand unmet patient need and gather valuable insights to develop safe and effective Cannabis-based medicines of the highest quality to address it. This unique combination of distribution and market intelligence has put Avextra in a strong position to continue to grow and succeed in the UK and other European medical cannabis markets.

“We are thrilled to be able to expand our reach and bring our products to patients in the UK,” said Bernhard Babel, Co-CEO of Avextra. “Regulations are developing in a positive direction across Europe as governments and the medical community continue to recognise the benefits of medical cannabis and its potential to improve patients’ quality of life”. In addition, “Having a stake in Integro Medical Clinics allows us to aggregate data and glean valuable insights into the needs of patients in the UK, as we continue to innovate and improve our products to meet those needs.”

This expansion into the UK market is a testament to Avextra’s commitment to innovation and quality, and the company looks forward to continued growth and to bringing its products to more patients across Europe in the future.

About Avextra AG

Avextra is one of Europe’s leading vertically integrated suppliers of high-quality Cannabis-based medicines. Founded in 2019 and based out of Bensheim, Germany, the company focuses on the production of precisely formulated Cannabis-based medicines. Avextra controls the entire value chain – from the cultivation of the plants in Portugal to the EU-GMP certified production in Germany. Avextra operates across continental Europe through an expansive distribution network and assets strategically developed in key markets.

Learn more at avextra.com and stay up to date at LinkedIn: company/Avextra-ag/.



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Aurora Cannabis and Vectura Fertin Pharma announce commercial collaboration

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Aurora Cannabis Inc., a leading Canadian-based global medical cannabis company, and Vectura Fertin Pharma, Inc., an innovator in wellness and healthcare, have announced that Aurora has entered into a commercial collaboration with Cogent International Manufacturing Ltd., a wholly-owned subsidiary of Vectura Fertin Pharma.

Through this arrangement, Cogent will initially launch its newly developed CBD lozenge on Aurora’s Canadian medical cannabis patient platform, giving access to patient feedback which will be used to validate the product proposition and patient responses to the product while building real-world patient data for future analysis.

Following the successful launch of the CBD lozenge, the two companies may explore opportunities regarding the potential commercialisation of other Vectura Fertin Pharmamedical cannabis products in Canada.

“We are excited about this commercial collaboration that will allow Aurora to leverage its industry-leading patient platform in Canada to support advancements in medical cannabis, as well as to provide our patients with access to Vectura Fertin Pharma’s new CBD lozenge,” said Miguel Martin, CEO for Aurora. “As a global leader in the manufacturing of pharmaceutical-grade medical cannabis, we are pleased to see increased interest in the possibilities of medical cannabis as part of healthcare options made available to Canadians.”

Michael Kunst, CEO for Vectura Fertin Pharma, said: “At Vectura Fertin Pharma, we are committed to building a pipeline of innovation, based on scientific rigor, to improve unmet medical and health needs. We are delighted to be working with the Aurora team who share our high standards for safety and quality, and our strong focus on improving people’s lives.

“Through this strategic collaboration, the Aurora platform will enable us to bring our new CBD lozenge, as prescribed by a healthcare professional, to the largest patient base in Canada, and to both study its impact and validate the product proposition through the generation of real-world patient data.”

The agreement between Aurora and Cogent is expected to have an initial term of 24 months, with a target of launching CBD containing products on Aurora’s Canadian medical cannabis marketplace, starting with a CBD lozenge.

The products will be manufactured, packaged and labelled by Cogent for sale and distribution by Aurora through its leading direct-to-patient e-commerce sales channel, requiring minimal additional capital investment by Aurora. The expected launch of the first SKU in market is targeted for later in 2024.

https://pharmaceuticalmanufacturer.media/pharma-manufacturing-news/latest-pharmaceutical-manufacturing-news/aurora-cannabis-and-vectura-fertin-pharma-announce-commercial-collaboration/



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Lyphe and Gro-Vida Announce Partnership

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Lyphe Clinic has announced a partnership with Gro-Vida, a licensed medical cannabis cultivar. This collaboration marks a significant step forward in advancing patient care and access to high-quality medical cannabis products within the UK.

By forming a strategic partnership with Gro-Vida, Lyphe Clinic aims to further enhance its commitment to providing superior care and uninterrupted access to medical cannabis treatments for its patients.

Sophie Gamwell, Managing Director at Lyphe Clinic, expressed her enthusiasm about the partnership, stating: “We are delighted to join hands with Gro-Vida to ensure seamless access to medical cannabis for our patients. Guaranteeing a continuous and reliable supply of medication is paramount for their well-being, and this partnership enables us to fulfil that commitment.”

Mallory Bodnar, Managing Director at Gro-Vida, commented:“Our partnership with Lyphe Clinic represents a significant step forward in our shared commitment to enhancing patient well-being. We are thrilled about this collaboration, which embodies our joint dedication to elevating standards of care. Together, we are ensuring that patients have access to high-quality, consistent medical cannabis.”

Through this partnership, Lyphe Clinic patients will benefit from a streamlined medical cannabis supply chain, ensuring consistent access to their prescribed medication. Additionally, the collaboration will empower Lyphe Clinic to exercise greater control over the quality and cost of the medical cannabis provided to its patients, ultimately enhancing the overall patient experience.



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Akanda Corp. Announces Closing of the Sale of RPK to Somai

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London, United Kingdom–(Newsfile Corp. – April 11, 2024) – On April 1, 2024, Akanda Corp. (NASDAQ: AKAN) (“Akanda” or the “Company”), an international medical cannabis company, completed the transaction with SOMAÍ Pharmaceuticals Ltd. (the “Buyer”) for the sale of RPK, its indirect wholly-owned Portuguese subsidiary.

Pursuant to the provisions set forth in the definitive share purchase agreement, the cash purchase price is Two Million United States Dollars (USD $2,000,000). In addition SOMAÍ is assuming up to One Millions Euros of current liabilities and RPK’s debt with the senior secured lender Bank, Caixa Agricola. In total the Buyer is assuming approximately 4,000,000 Euros of debt. In accordance with the terms of the proposed transaction, a deposit amounting to Five Hundred Thousand United States Dollars (USD $500,000) was released from a joint escrow account and the remainder of the purchase price was paid directly to the Company.

Akanda Corp. is now in a stronger financial position and will continue to strengthen its presence in the global cannabis market through its wholly-owned United Kingdom (UK) subsidiary, Canmart. Canmart is a licensed importer and distributor of Cannabis-Based Products for Medicinal use (CBPMs) in the UK. and provides third party and specialist import and distribution services for Schedule 2 products including CBPM’s. Canmart continues to work further with premium product suppliers to bring safe, effective and required products to market that patients demand, and working with existing and new clinical cannabis operations in the UK to provide third party products. Beyond its operations in the UK, Akanda is also developing the Gabriola Green Project in British Columbia, Canada. This farming property is set to host facilities for the production of tetrahydrocannabinol (THC) and cannabinoid (CBD) products, reflecting the Company’s commitment to expanding its footprint and advancing its projects across both Europe and North America. The Company has initiated the regulatory framework to begin CBD cultivation with a future outlook towards THC.

Interim CEO and Executive Director, Katie Field commented, “Akanda is in a strong position to execute a new sustainable strategic direction. The company is in a better cash position and has eliminated most of its debt. We are looking forward to the Company’s anticipated growth.”

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Company’s securities, nor shall there be any sale of such securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.



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