TORONTO, ON--(Marketwired - May 10, 2017) - Delivra Corp. (
The hemp plant has been hugely overlooked as a great alternative for pain management and other medical conditions. The partnership between the two companies addresses many of the concerns of the unsettling psychotropic effects of THC found in cannabis, especially in the elderly and high anxiety patient population. In comparison, hemp contains low THC cannabis content and many beneficial cannabinoids, including cannabidiol (CBD). Hemp is also known for its diverse and robust anti-inflammatory flavonoids content, along with its high nutritional value because of its high essential polyunsaturated fatty acids (omega 3's), which matches that of the human body. Properly administered, medical non-psychotropic cannabis provides real alternatives to more addictive type drugs, including opioids.
"This collaboration between Delivra and Avanti addresses a rapidly growing field of medicine by seeking to standardize, validate, package and distribute natural products that can be sold world-wide, supported by evidenced-based science. This transaction provides Delivra with a compelling opportunity to participate in the changing landscape of the cannabis marketplace in which standardization will be critical to success. With formulation and extraction beginning immediately, we expect products to be in natural product stores, grocery stores and pharmacies in 2018," said Dr. Joseph Gabriele, CEO of Delivra.
"Our goal is to develop sophisticated natural products with greater safety and efficacy for the patient, providing consistent, accurate dosing, and that are manufactured under pharmaceutical GMP Standards," said Dr. Mehrdad Barghian, CEO of Avanti. "With an approved Health Canada import license for both traditional cannabis and hemp oils from South America and Europe, state-of-the-art extraction facilities, and the formulation expertise of Delivra, we have all the elements to become the leader in critical analytical testing, extraction, and production of innovative cannabis products in Canada."
Under the terms of the agreement, Delivra will use its expertise in formulation and its proprietary delivery system platform to conduct preclinical and clinical studies for the evolving Canadian hemp market along with expanding international markets. Avanti will potentially gain a suite of natural hemp products for pain-related illnesses. The costs of the clinical trials and research will be paid by Avanti. Delivra and Avanti will own the intellectual property, and Delivra will receive a royalty percentage on the related gross sales of the suite of natural products in a license agreement which continues for as long as the products are sold by Avanti. Avanti's Pharmaceutical GMP facility will be responsible for the quality-control testing, extraction and production of the finished products under pharmaceutical GMP Standards.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company that has a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules, through the skin, in a targeted specific manner. Delivra manufactures and sells a growing line of natural topical creams with the proprietary transdermal delivery system platform under the LivRelief™ brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and under the LivSport™ brand for sports performance. LivRelief™ products are available in pharmacies, grocery chains, and independent health food stores across Canada, and on-line at www.livrelief.com. LivRelief™ pain and nerve pain products are also available in the United States on Amazon and at www.livrelief.com/us. In parallel with its consumer products business, Delivra also has a mandate to license its patent-pending proprietary transdermal delivery technology platform to pharmaceutical companies globally, for the repurposing of pharmaceutical molecules transdermally to treat a broad range of conditions, along with licensing its over-the-counter products globally. Delivra is headquartered in Burlington, Ontario and has a research and development laboratory in Charlottetown, PEI.
Further information on Delivra can be found at www.delivracorp.com, www.livrelief.com for Canada and www.livrelief.com/us for the United States.
ABOUT ARA-AVANTI RX ANALYTICS INC.
ARA-Avanti Rx Analytics Inc. is the first Health Canada GMP and OCDS approved Contract Organization specializing in the field of controlled drugs and substances specializing in the area of Medicinal Marijuana, HEMP, Cannabinoids, and Marijuana based concentrated products. ARA-Avanti Rx Analytics Inc. offers a comprehensive menu of services ranging from analytical R&D and QC testing, large commercial scale extraction under a controlled environment, cannabinoids purification, cannabis infused-product formulation, and controlled substances importation and exportation, as well as the QA and regulatory consulting services. Our focus is in the provision of a broad range of sophisticated, state-of-the-art equipment, instrumentation, and services to Health Canada approved licensed producers (LPs), authorized pharmacies, medical practitioners, Health Canada approved patients, government enforcement and regulatory agencies, and regulatory approved allied cannabis communities, and to continue to remain at the forefront of the healthcare industry, building an enviable reputation. ARA-Avanti Rx Analytics Inc. core values include: 1) Advance quality control and quality assurance for medical cannabis; 2) Support the safe consumption of medical cannabis; and 3) Ensure transparency for our medical cannabis community.
Further information on Avanti can be found at www.AvantiRx.com.
For more information, please contact: Dr. Mehrdad Barghian, President, CEO, QPIC at MBarghian@AvantiRx.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute "forward-looking statements", which are not comprised of historical facts. Forward-looking statements may be identified by such terms as "believes", "anticipates", "intends", "expects", "estimates", "may", "could", "would", "will", or "plan", and similar expressions. Specifically, forward-looking statements in this news release include, without limitation, statements regarding: the research to be completed by Delivra for a suite of medical marijuana based products; the Company's drug research and development plans in general; the timing of operations; and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of Delivra to differ materially from those anticipated or implied in such forward-looking statements. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management's expectations. In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting Delivra will continue substantially in the ordinary course and will be favourable to Delivra, that clinical testing results will justify commercialization of the Company's drug candidates; that Delivra will be able to obtain all requisite regulatory approvals to commercialize its drug candidates, that such approvals will be received on a timely basis, and that Delivra will be able to find suitable partners for development and commercialization of its drug repurposing candidates on favourable terms. Although these assumptions were considered reasonable by management at the time of preparation, they may prove to be incorrect. Factors that may cause actual results to differ materially from those anticipated by these forward-looking statements include: unsuccessful outcomes in research for a suite of medical cannabis based products; uncertainties associated with obtaining regulatory approval to perform clinical trials and market products; the need to establish additional corporate collaborations, distribution or licensing arrangements; the ability of the Company to generate sales and profits; the Company's ability to raise additional capital if and when necessary; intellectual property disputes; increased competition from pharmaceutical and biotechnology companies; changes in equity markets, inflation, and changes in exchange rates; and other factors as described in detail in Delivra's public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, Delivra disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
For more information, please contact:
Investor Relations:
Joanna Longo
jlongo@terrepartners.com