Heritage Cannabis Enters Exclusive Partnership to Commercialize Avicanna’s Evidence-Based Topical Products through Heritage’s Medical Opticann Brands

CANNANNEW REPORT

Exclusive licensing of certain of Avicanna’s advanced and evidence-based CBD topical products including its deep tissue and skin care formulations. Heritage to lead medical sales and commercialization across non-competing medical channels in Canada under the Opticann brand. TORONTO–(BUSINESS WIRE)–Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), announces that the Company has entered into an exclusive intellectual property licensing and royalty agreement (the “Licensing Agreement”) with Avicanna Inc. (“Avicanna”), a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products. The Licensing Agreement is for the commercialization of a number of Avicanna’s advanced CBD-based topical products under Heritage’s medical cannabis brands (the “Branded Products”) targeting patients registered to purchase medical cannabis in Canada. The Branded Products include Avicanna’s proprietary cannabinoid topical formulations developed through years of extensive research by Avicanna’s team of scientists. The specific products are all supported with pre-clinical studies in addition to two of the SKUs that are supported by completed human studies. The Branded Products are planned to launch by Q4 2021 through Heritage’s extensive medical sales channels in Canada and aim to address unmet medical needs of the mass market with evidence-based and standardized cannabinoid products. Under the Licensing Agreement, which has an initial three-year term, Avicanna has exclusively licensed, subject to certain conditions and exceptions, the use of certain proprietary product formulations to Heritage to be marketed and sold under Heritage’s medical Opticann branded products in non-competing medical channels in Canada. Heritage is required to meet certain minimum sales requirements every year for each Branded Product licensed under the Licensing Agreement and will pay Avicanna a royalty for each product sold to its medical consumers. “We are excited to add Avicanna’s innovative topical products to our portfolio of highly effective medical CBD products. They are a great strategic…

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Source : Heritage Cannabis Enters Exclusive Partnership to Commercialize Avicanna’s Evidence-Based Topical Products through Heritage’s Medical Opticann Brands

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