SASKATOON, Saskatchewan--(BUSINESS WIRE)--CanniMed Therapeutics Inc. (TSX:CMED) (OTC:CMMDF) (“CanniMed” or the “Company”) is pleased to announce the launch of CanniMed Topical Cream, an innovative new product that has been uniquely formulated to provide fast-acting relief from pain and inflammation.
CanniMed Topical Cream is a fusion of CanniMed’s industry-leading medical cannabis oil with Kalaya™ Carrier Base Gel, which was created by Avaria Health & Beauty Corp. (“Avaria”), one of Canada’s leading experts in the creation of advanced topical creams, gels, lotions and salves.
“Our patients rely on us to innovate and find new ways to use medical cannabis to treat a wide variety of symptoms,” said Brent Zettl, President & CEO of CanniMed. “CanniMed Topical Cream gives patients the option to apply their medical cannabis directly onto affected skin, joints and muscles, providing effective relief to a specific area.”
CanniMed Topical Cream will be available as a kit that allows patients to mix at home their choice of CanniMed Oil™ 1:20 or CanniMed Oil™ 10:10 with the Kalaya™ Carrier Base Gel. Once mixed, the clear gel forms a luxurious white topical cream of the same quality found at luxury cosmetics counters.
The CanniMed Topical Cream Kit will be available for pre-order at the end of January and delivery of the first kits is expected in mid-February.
In connection with the launch of CanniMed Topical Cream, the Company is pleased to announce that it has entered into a definitive License, Supply and Distribution Agreement with Avaria Health & Beauty Corp. for the development, manufacture and distribution of topical medical cannabis products in Canada. In addition to bringing CanniMed Topical Cream to the Canadian market, this agreement also confirms the commitment of CanniMed and Avaria to additional product development and clinical research.
“We view this opportunity to partner with CanniMed, a leader and innovator in the medical cannabis industry, as a logical and natural fit for our research based, medically directed company,” said Dr. Keith Burk, CEO of Avaria Health & Beauty. “This is the first product of many that we are developing with CanniMed. We are excited by the prospect of improving quality of life, not only for Canadians but for those affected by pain around the world.”
About CanniMed Therapeutics Inc.
CanniMed is a Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry, with 17 years of pharmaceutical cannabis cultivation experience, state-of-the-art, GMP-compliant production process and world class research and development platforms with a wide range of pharmaceutical-grade cannabis products. In addition, the Company has an active plant biotechnology research and product development program focused on the production of plant-based materials for pharmaceutical, agricultural and environmental applications.
The Company, through its subsidiaries, was the first producer to be licensed under the Marihuana for Medical Purposes Regulations, the predecessor to the current Access to Cannabis for Medical Purposes Regulations. It was the sole supplier to Health Canada under the former medical marijuana system for 13 years, and has been producing safe and consistent medical marijuana for thousands of Canadian patients, with no incident of product diversion or recalls.
For more information, please visit our websites: www.cannimed.ca (patients) and www.cannimedtherapeutics.com (investors).
About Avaria Health & Beauty Corp.
Privately owned and operated since 1995 by experienced medical professionals, Avaria Health & Beauty Corp. specializes in the formulation, manufacturing and sale of topical creams, oils, emulsions, liquids, lotions, gels and salves. Avaria has earned an international reputation for its premium health, wellness and beauty products, proven to be among the most technologically advanced and efficacy-based products on the market today.
Avaria’s branded line (including Kalaya™ Naturals) enjoys distribution throughout Canada at all levels of retail and both the branded and private label formulations can be found in most levels of over-the-counter retail domestically, as well as in select international markets.
Avaria Health & Beauty Corp. has enjoyed sustained and measurable growth in both branded retail and private label contract manufacturing since 1997.
For more information regarding Avaria Health & Beauty Corp., please visit our website: www.avariahb.com.
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding the availability of the topical cream kit for sale, future development of products and research, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements are based on assumptions, including assumptions relating to the production and availability of the topical cream kit, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CanniMed Therapeutics Inc. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including the risk that the availability of products will be delayed, the risk that products will not be successfully developed or developed in a timely manner, the risk that certain products will not receive regulatory approval and the risks described in CanniMed Therapeutics Inc.’s Annual Information Form for the year ended October 31, 2017 filed with applicable Canadian securities regulatory authorities which may be viewed at sedar.com. The forward-looking statements included in this news release are made as of the date of this news release. CanniMed Therapeutics Inc. does not undertake to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, unless required by applicable securities legislation.