Agreement part of strategy targeting the US $7.3 Billion* skincare market in Mexico
TORONTO, Nov. 6, 2018 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated medical cannabis company with its core operations in Colombia, announced today that the Company has extended an agreement with Farmalisto, the regions leading digital drugstore, to market and distribute the Company's Kuida® CBD cosmeceutical brand to a population of over 120 million consumers in Mexico, subject to approvals from the Federal Commission for the Protection of Health Risks (COFEPRIS).
Kuida®, the first consumer brand of Khiron's Wellness unit, brings the benefits of cannabidol (CBD) to a comprehensive portfolio of skin and body care products for women. Launched in Colombia in September 2018 through retail, wholesale and online channels, Kuida® will now be available in Mexico, a significant market segment with a population of more than 120 Million. Mexico is among the top 10 markets in the world for cosmetics and personal care products (US Department of Commerce), and the second largest market for beauty products in Latin America.
Alvaro Torres, Khiron Co-founder and CEO stated, "Mexico is a priority market for Kuida®, where we see tremendous interest in new innovations in the beauty care market. As part of our previously announced business strategy to enter the Mexican market, extending our distribution deal with Farmalisto allows us to leverage their e-commerce capabilities and network to connect more women in Mexico with the Kuida® brand."
Farmalisto is one of Latin America's leading digital drugstores with more than one million monthly visits, sustained annual sales growth of 150%, and a strong presence in Mexico. Led by CEO and Co-founder Joaquin Mora, Farmalisto provides customers with innovative products, delivered with leading commercial technology, provided through the most innovative digital platform. To see Kuida® on Farmalisto visit: https://bit.ly/2AIzd4Z
José Joaquin Mora, CEO & Co-founder of Farmalisto stated, "Farmalisto is the largest and most comprehensive digital health service platform in Mexico. As a pioneer in the pharmaceutical e-commerce space we are redefining the pharmacy, creating a simpler, easier and lower cost way of prescribing medications and health services, at any time, anywhere. With one million monthly visits and 500,000 orders delivered to date we are the fastest growing such e-commerce platform in Latin America."
* Source: Mexican Secretariat of Economy (SE), Mexican Internet Trade Data System (SIAVI).
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. (TSXV: KRHN, OTCQB: KHRNF, Frankfurt: A2JMZC) ("Khiron" or the "Company") is positioned to be the dominant integrated medical cannabis company in Latin America. Khiron has core operations in Colombia and is fully licensed in the country for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. In May 2018, Khiron listed on the TSX Venture Exchange, becoming one of the first Colombian based medical cannabis companies to trade on any exchange globally.
With a focused regional strategy and patient oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. Khiron is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
Further information on Khiron Life Sciences can be found at www.khiron.ca.
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Khiron undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Filing Statement which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
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SOURCE Khiron Life Sciences Corp.
For further information: Investor Contacts: Chris Naprawa, President, T: +1 (416) 705-1144, E: [email protected]; Darren Collins, Chief Financial Officer, T: +1 (705) 527-3564, E: [email protected]; Media Contact: Jon Packer, Vice President, Communications, T: +1 (416) 543-9179, E: [email protected]