TORONTO – Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN, (OTCQX: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, is pleased to report that the Company has received the status of National Interest Strategic Project (“PINES”) by the Government of Colombia, through its Intersectoral Commission for Infrastructure and Strategic Projects (“CIIPE”). The government agency review, and subsequent certification, enables the Company to simplify authorization processes, reduce cost and accelerate time to market for its services and products for the Colombian market and for export purposes.
“The PINES status provides our operations in Colombia with an accelerated path forward to bring new products and services to market. We expect that, through PINES, which is designed to efficiently move projects through the Colombian regulatory process, Khiron will be able to fast track certifications, licenses and permits related to our business, allowing us to accelerate revenue opportunities and add cost efficiencies to our process, while ensuring we continue to bring quality medical cannabis products to more patients in Colombia and globally. We applaud the Government of Colombia on the PINES initiative, which supports the growth of the Colombian economy and encourages the very best industries and businesses we have to offer,” comments Alvaro Torres, Khiron CEO and director.
PINES has historically focused on large, resource sector and infrastructure programs in Colombia, such as the first subway line in Bogota, where programs provide an economic boost to the economy and export capacity, significantly impact job creation, generate positive investment returns, offer operational sustainability, generates large national income or contributes to government planning goals. The declaration of the medical cannabis sector into the program, and in particular Khiron, focuses on the development of pharmaceutical products and the provision of health services with a differentiated and integrative model, demonstrating the government commitment to new industries that advance the economy, adding products that positively transform the quality of life of Colombian patients and in other countries where the Company operates, including the UK, Peru, Germany, and Mexico.
Khiron benefits from the PINES certification by simplifying and accelerating the process for its projects in order to specifically advance: the inclusion of medical cannabis within the list of medications covered by the federal health system, the registration of finished products, currently including four pharmaceutical products and at least 10 CPG SKU’s among others, and export of the health service delivery model to serve potential medical cannabis patients in other countries, and the development of clinical studies and data collection that support the effectiveness and safety of these products.
About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America. Khiron is the leading cannabis company in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution, and international export of both low and high THC medical cannabis products. The Company has further presence in Peru, Mexico, Uruguay, UK, Spain and Germany, where it is positioned to begin sales of medical cannabis.
Leveraging its first-mover advantage, and patient oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia, with KuidaTM now marketed in multiple jurisdictions in Latin America, the US and UK. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors. Visit Khiron online at investors.khiron.ca
