TORONTO, July 5, 2018 -- /D.M.O. Newswire/ -- Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV:KHRN), a Canadian integrated medical cannabis company with its core operations in Colombia, announced today that further to its announcement of May 30, 2018, the Colombia National Food and Drug Surveillance Institute ("INVIMA") has granted Khiron authorization for the production, sale and export of four additional cannabidiol ("CBD") based products for skin and body care.
With the addition of these four new products, Khiron now has authorization to commercialize eight products, strengthening its position as a medicinal cannabis industry first-mover in Colombia and Latin America.
The additional products approved by INVIMA expands Khiron's portfolio of products operating under its wellness business unit, which aims to target the growing skin care market in Colombia, a market of over CAD 530 Million in annual sales with growth of over 6% per year over the past 5 years.
"As we move to bring cannabis-based skin care products, in addition to medical cannabis, to market, we appreciate the essential support that this authorization by INVIMA provides. We see tremendous opportunity to lead the cannabis-based wellness product sector, a category with untapped potential to meet consumer needs using natural, innovative ingredients with proven scientific results." comments Andrés Galofre, VP Marketing and Sales at Khiron.
This CBD product line will provide women and men with a full collection of medicinal skin care solutions for each stage of their daily skincare routine, from early morning through to pre-sleep. The first wellness product is anticipated by Q4 2018, with initial distribution in Colombia, and commercialization potential across Latin America.
"We are very pleased with the progress made by our wellness business unit towards bringing quality, trusted medically and scientifically validated cannabis-based personal care products to consumers in Colombia and Latin America. We see outstanding growth potential in this area, backed by our growing reputation as the medical cannabis leader in Colombia, and across the region." says Alvaro Torres, CEO of Khiron Life Sciences Corp.
INVIMA, established by the Colombian Ministry of Health to inspect and supervise the production and marketing of health products in the country is a leader in the region, holding level four status with the World Health Organization (WHO).
About Khiron Life Sciences Corp.
Khiron Life Sciences is a Canadian integrated medical cannabis company with its core operations in Colombia. Khiron combines leading international scientific expertise, agricultural advantages and branded product market entrance experience to address the unmet medical needs in a market of over 620 million people in Latin America. Khiron has received licenses in Colombia for high- and low-tetrahydrocannabinol (THC) medical cannabis, and has received all licenses required for the cultivation, production, domestic distribution, and international export of both THC and cannabidiol (CBD) medical cannabis. Khiron Life Sciences Corp. lists on the Toronto Venture Exchange: TSXV: KHRN