Avicanna completes first delivery of topical products to pharmaceutical company

Avicanna (AVCNF) announced the initial delivery of its proprietary topical products into Europe as a part of the previously announced exclusive supply agreement with a multinational pharmaceutical company. The products include 3% CBD localized cream and the 2% CBD and 0.5% CBG transdermal gel utilizing the Company’s patented deep tissue technology. The 3% CBD localized cream, as well as the 2% CBD and 0.5% CBG transdermal gel products completed human irritation and real-world evidence studies. Avicanna previously disclosed the exclusive supply agreement for the products to multinational pharmaceutical company, which required pre-requisite testing and analysis for registration under cosmetics regulations prior to importation into the German market for their initial launch. The multinational pharmaceutical company manufactures and markets a wide range of pharmaceutical products and other products across 4 continents and has established commercial infrastructure in the European region that will be utilized for the initial launch of the selected products. The multinational pharmaceutical company has committed to launch the initial products in 6 European countries during 2025 with expectations of further expanding throughout the European region shortly after. Avicanna has earned licensing fees for meeting specific milestones this year. Additionally, the parties agreed to specific minimum order quantities and commercial milestones for the multinational pharmaceutical company to maintain the exclusivity.