NAPANEE, Ontario – VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) (“VIVO” or the “Company”), a number one supplier of premium hashish services and products and holder of licenses below the Cannabis Act by its wholly-owned subsidiaries, Canna Farms Limited (“Canna Farms”), ABcann Medicinals Inc. (“ABcann”) and Harvest Medicine Inc. (“Harvest Medicine”), is happy to supply an replace on its international medical enterprise, which operates in Canada, Germany and Australia.
“One of our top strategic priorities is to focus on the global medical cannabis market, directly servicing tens of thousands of patients and investing in product development initiatives that prioritize high-quality novel products,” stated Barry Fishman, CEO of VIVO. “We’ve recently made significant progress on a number of key initiatives, which will help solidify our market presence as a company that is committed to delivering solutions for patients and healthcare professionals on an international scale.”
VIVO believes that vital development in medical hashish utilization might be pushed by a number of elements together with:
1. Accelerating legalization of medicinal hashish globally
2. Mounting real-world and medical proof of therapeutic advantages
3. Increasing clinician adoption of medical hashish as a viable therapeutic choice
4. Growing reimbursement by governments and third-party payors
5. Improving affected person and healthcare practitioner consciousness, training and entry
6. Introducing new medical-grade, precise-dosed, secure formulations
7. Removing the gross sales tax on medical hashish in Canada
The Company is happy to announce a number of initiatives that advance the Company’s affect inside the international medical hashish market.
Shoppers Drug Mart Partnership
VIVO has entered into each a product provide settlement and a clinic providers settlement with Medical Cannabis by Shoppers. As beforehand introduced, VIVO’s two licensed producers will provide a broad portfolio of Canna Farms and Beacon Medical branded medical hashish merchandise by the Medical Cannabis by Shoppers on-line gross sales platform, together with its newest Cannabis 2.zero choices reminiscent of goodies and extracts making these merchandise accessible to Medical Cannabis by Shoppers sufferers throughout Canada.
Under the phrases of the clinic providers settlement, VIVO’s subsidiary, Harvest Medicine, will present hashish training providers to sufferers who’re acceptable candidates for cannabinoid-based merchandise out there from Medical Cannabis by Shoppers and supply consulting providers to its Cannabis Care workforce.
Launch of Beacon Medical Oils in Australia
VIVO’s subsidiary, Beacon Medical Australia, has entered right into a provide settlement with MediPharm Labs Australia to buy pharmaceutical high quality (GMP licensed) hashish oils for the Australian market.
As beforehand introduced, below the settlement MediPharm Labs Australia will provide its full vary of GMP-certified, formulated CBD and THC hashish oils to Beacon Medical Australia for additional distribution below the Beacon Medical branding. The addition of hashish oils to Beacon’s Australian portfolio is a crucial step in the direction of capturing market share in Australia’s rising medical hashish market.
Veterans House Partnership
VIVO has entered right into a collaboration settlement with Veterans House (“Veterans House”), below which the Company will present sponsorship and assist to joint packages for Canadian Armed Forces veterans. Veterans House is a federally registered non-profit group that gives veterans affected by psychological sickness and operational stress accidents reminiscent of post-traumatic stress dysfunction, with entry to counseling and peer assist packages.
“Canna Farms is a long-standing supporter of veterans, providing access to leading medical cannabis products and programs,” stated Fabian Henry, Senior Director of Operations at Veterans House. “The team at VIVO has shown an ongoing commitment to Canadian veterans and we look forward to working more closely together to serve this community.”
“We are proud to be associated with Veterans House,” stated Mr. Fishman. “Our veterans have dedicated their lives to defending the rights and freedoms we have in Canada. We are honoured to play an important role in enhancing the quality of life for our veterans.”
Medical Product Line Expansion
VIVO is happy to introduce softgel capsules, with a number of cannabinoid concentrations out there, by its Canna Farms on-line medical market within the coming weeks. Softgel capsules present sufferers with a handy format to ingest hashish in a exactly dosed format.
The introduction of softgels follows the profitable launch of VIVO’s Cannabis 2.zero product choices (together with goodies and extracts) into the Canadian medical market, growing alternative for the Company’s greater than 20,000 registered sufferers.The Canna Farms retailer now carries six main medical manufacturers together with GTEC, Aqualitis and Pure Sunfarms. “Our web-based medical store continues to be a key point of connection for Canadian patients to conveniently access medical cannabis products,” stated Daniel Laflamme, President of Canna Farms. “Having a consistent supply of medical products has been an industry-wide concern and we continue to enhance our manufacturing processes and relationships with other established high-quality LP partners, to supply our medical patients with a wide range of product options.”
Product Development Progress
VIVO moved into the following stage of product innovation with companion Pharmascience Inc., a world pharmaceutical firm primarily based in Montreal, for the event of a line of particular medical hashish formulations produced below pharmaceutical high quality requirements meant to maximise the profit to sufferers.
“Healthcare professionals and patients are increasingly searching for precisely-controlled, high-quality, standardized dosage forms of medical cannabis. VIVO has invested in several product development projects with proven partners experienced in formulating complex medical products,” acknowledged Mr. Fishman.
EU-GMP Follow-up Audit Completed
A follow-up EU-GMP audit was not too long ago accomplished at VIVO’s ABcann Medicinal facility in Napanee. This is a crucial step in the direction of EU GMP-certification and is a requirement to export medical hashish merchandise from Canada on the market in Germany and different European nations.
Real-World Evidence Collaboration
The Company entered right into a partnership with privately held Reformulary Group, an progressive healthcare firm devoted to serving to Canadians make sense of drugs (pharmaceuticals and medical hashish). VIVO has agreed to supply medical assist, by the Company’s Harvest Medicine clinics, to sufferers who entry Reformulary Group’s Cannabis Standard platform. Cannabis Standard is an ecosystem of knowledgeable suggestions, patient-powered instruments, and impartial info to assist Canadians and healthcare professionals make smarter, extra knowledgeable selections about selecting medical hashish.
“Cannabis Standard applies the same formula that we’ve used so successfully on the prescription medication side. We gathered a panel of independent medical experts, conducted a comprehensive review all of the available evidence globally, and created user-friendly tools to help Canadians navigate the medical cannabis space,” stated Helen Stevenson, Reformulary Group founder and CEO. “At its core, Cannabis Standard is about helping patients benefit from and contribute to the growing base of medical cannabis research, and we look forward to working closely with the team at VIVO to advance patient outcomes.”
VIVO has additionally engaged Strainprint Technologies, a frontrunner in hashish information and analytics, to look at real-world proof of its merchandise, linking utilization and efficacy for a number of of the main indications handled with medical hashish from hundreds of sufferers. This proof is being utilized by healthcare professionals to help in figuring out optimum therapy choices and by sufferers to assist navigate their medical hashish journey. VIVO is the primary Canadian LP to supply this helpful info on its merchandise to key stakeholders.
Patient Support Under COVID-19
Health Canada not too long ago introduced that resulting from COVID-19, it’s quickly extending the expiry date of registrations by six months for sufferers who’re having issue accessing their well being care prescriber to acquire a brand new medical doc.Since Harvest Medicine quickly moved its whole clinic operations to telemedicine in late Q1 2020, the suggestions from sufferers and prescribing clinicians adapting to digital visits has been overwhelmingly optimistic.
“Not only has there been no lapse in ongoing care for our patients during COVID-19, but our dedicated team was able to scale up to meet increased patient demand for visits on our HMED Connect mobile application platform which have more than tripled during the pandemic,” acknowledged Carole Chan, President of Harvest Medicine. “We understand the importance of in-person consultations for certain patient populations, and we will continue to offer this option when clinics re-open in the near future with enhanced protocols to keep patients and staff safe.”
VIVO is assured that it’ll profit from Health Canada’s current announcement and Harvest Medicine’s capability to proceed to supply high-quality affected person providers throughout COVID-19.
Product Identification Enhancement
VIVO, by its international Beacon Medical model has simplified its consumer-facing product naming conventions and added Product Identification Numbers (PINs) to its core Canadian providing to higher assist docs, pharmacists and sufferers in navigating medical hashish. “Introducing PINs will enable Canadian insurers to more easily navigate our products,” commented Matt Patterson, Vice President of Medical Strategy.
About VIVO Cannabis
VIVO Cannabis is acknowledged for trusted, premium hashish services and products. It holds manufacturing and gross sales licences from Health Canada and operates world-class indoor and seasonal airhouse cultivation amenities with proprietary plant-growing expertise in Hope, British Columbia and Napanee, Ontario. VIVO has a set of premium manufacturers, every concentrating on totally different buyer segments, together with Canna Farms, Beacon Medical, Fireside, Fireside-X, Lumina and Canadian Bud Collection. The Company is increasing its manufacturing capabilities and distribution community. Harvest Medicine, VIVO’s patient-centric, scalable community of medical hashish clinics, has serviced over 100,000 affected person visits. VIVO is pursuing a number of partnership and product growth alternatives and is focusing its worldwide efforts on Germany and Australia. The Company has a wholesome steadiness sheet and is well-positioned to speed up its path to profitability. For extra info go to: www.vivocannabis.com