Linneo Health Receives EU-GMP
Certification
NAPANEE, ON, Sept. 17, 2019 /CNW/ - VIVO Cannabis Inc.
(TSX-V: VIVO, OTCQX: VVCIF) ("VIVO" or the
"Company") today announced it has partnered with Linneo
Health S.L. ("Linneo Health"), a subsidiary of Alcaliber
S.A., to be its European medical cannabis supply partner. Linneo
Health, a European leader in the pharmaceutical cannabis industry,
recently received its EU-GMP (Good Manufacturing Practices)
certification from the Spanish regulatory authorities. The
agreement is a multi-year commitment, with increasing supply
volumes as VIVO expands in the European medical market.
"Our partnership with Linneo Health is part of our strategic
priority to accelerate international market growth," said
Barry Fishman, Chief Executive
Officer of VIVO. "We are excited to have an EU-GMP certified source
of medical cannabis located within Europe. Through this partnership, we expect to
be able to supply the European high-growth market with premium
medical cannabis products and services. Our European based supply
will allow VIVO to contribute to addressing the unmet medical needs
of patients in Germany, which is
one of our key target markets for international expansion."
In late March 2019, VIVO's German
subsidiary, ABcann Germany GmbH ("ABcann Germany"), was
granted its pharmaceutical wholesale license and GDP-certificate by
the responsible authorities of the state of Brandenburg. VIVO is
now pursuing narcotic and import license applications in
Germany to facilitate imports from
other non-EU countries, including Canada, and expects to have its first products
sold in the German market in early 2020.
In early February 2019, VIVO
exported three of its proprietary cultivars, covering a broad range
of cannabinoid profiles, to Linneo Health in Spain. These cultivars were propagated to form
VIVO's genetic basis for commercial cultivation in Europe. The agreement between ABcann Germany
and Linneo Health is part of a long-term growth strategy of
cooperation, the first step of which is the cultivation of EU-GMP
certified cannabis, and represents the foundation on which VIVO and
Linneo Health intend to complete the regulatory work required for
the launch of medical cannabis in Europe, using a focused and phased
approach.
"This agreement with VIVO Cannabis is a significant milestone
for Linneo Health, as it strengthens our presence in international
markets, consolidates our position as the partner of choice for the
pharmaceutical industry, and will help us bring top quality
cannabis products to patients in need," said José Antonio de la Puente, Chief Executive Officer of
Linneo Health.
About VIVO Cannabis™
VIVO, based in Napanee,
Ontario, is recognized for trusted, high-quality products
and services. It holds production and sales licences from Health
Canada and operates world-class indoor cultivation facilities with
proprietary plant-growing technology. VIVO has a collection of
premium brands targeting unique customer segments, including Beacon
Medical™, FIRESIDE™, Canna Farms™ and Lumina™. In August 2018, VIVO acquired Canna Farms, a premium
cannabis company based in Hope, British
Columbia. Canna Farms was B.C.'s first Licensed Producer and
has several years of craft cultivation experience and expertise, as
well as a significant patient base and positive cash flow. The
Company is significantly expanding its production capacity and
pursuing partnership and product development opportunities
domestically, as well as in select international markets, including
Germany and Australia. VIVO also operates Harvest
Medicine, a patient-centric and highly scalable network of
specialty medical cannabis clinics as well as a free telemedicine
service. VIVO has a healthy balance sheet and is well-positioned to
accelerate its growth in Canada
and internationally.
About Linneo Health
Linneo Health, based in Spain,
is an EU-GMP certified manufacturer of medical cannabis for the
pharmaceutical industry. The company is recognized as a leading
supplier to the global pharmaceutical industry for its significant
production capacities for flower and industrial derivates.
Vertically integrated from seed to sale and backed up by its 50
years of experience with respect to both the agricultural and
industrial production, the company produces therapeutic cannabis of
high standard, integrating in every step the most innovative
techniques. The company brings to the market – through its partners
– top quality cannabis products, ensuring access for patients who
need it. Its focus on quality and innovation, together with its
expertise and experience, makes Linneo Health the partner of choice
for the medical cannabis industry.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Statements
This news release contains forward-looking statements, which
are statements that are not purely historical, regarding the
beliefs, plans, expectations or intentions of the Company and its
management regarding the future, and should not be read as
guarantees of future performance or results. Forward looking
statements in this news release include statements regarding: the
Company's ability to supply the European market with its cannabis
products and expected timing in respect thereof; the expected
benefits to be derived by the Company from the agreement with
Linneo Health, including the expectation that it will be able to
supply the European high-growth market with premium medical
cannabis products and services; and the expected timing of receipt
of German narcotic and import licenses. Such statements are subject
to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those
contained in the forward-looking statements, including: the ability
of the Company and Linneo Health to execute on their partnership to
supply the European market with cannabis products and successfully
cultivate EU-GMP certified cannabis; potential delays in producing
saleable finished products; potential delays in obtaining, or
failure to obtain, all applicable regulatory approvals; changes to
applicable regulations; the potential size of the German market;
and other factors beyond the Company's control. A more complete
discussion of the risks and uncertainties facing the Company
appears in the Company's Annual Information Form for the year ended
December 31, 2018 and other
continuous disclosure filings, which are available on SEDAR at
www.sedar.com. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this news release. The Company disclaims any intention or
obligation to update or revise any forward-looking statements as a
result of new information or future events, or for any other
reason, other than as required by applicable securities laws.
Information about Linneo Health included in this news release has
been provided by Linneo Health and has not been independently
verified by the Company.
SOURCE VIVO Cannabis Inc.
