Colombian Agricultural Institute ("ICA") authorization is a significant requirement to cultivate and distribute medical cannabis in Colombia. Khiron's receipt of the authorization confirms the Company as one of the leading medical cannabis companies in Latin America
TORONTO - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), a Canadian integrated medical cannabis company with its core operations in Colombia, announced today that the Company has been registered by the Colombian Agricultural Institute ("ICA") as an agronomical unit. Khiron is one of two companies in Colombia to receive this registration.
As a mandatory requirement for commercializing medical cannabis products in Colombia for distribution, this milestone positions Khiron to receive the first allocation of quota to commence commercial cultivation of high THC strains, and to commence commercial cultivation and production of CBD strains which do not require quota.
Key aspects of the ICA registration include:
- Khiron's application for 19 strains has been received by ICA. These strains will be tested by ICA for the purposes of final approval of the genetics for commercial cultivation and production.
- ICA has completed a site inspection of Khiron's facility and verified the site is ready for commercial production. This inspection included an audit of greenhouse and propagation area conditions, cultivation procedures and protocols, storage area conditions, and the methodologies applied to analyze and test strains.
- Positive test results from the ICA process for high THC strains will be submitted to the Ministry of Health with the objective of receiving commercial quota for cultivation and production.
- Positive test results for CBD strains will enable the Company to immediately cultivate and produce CBD strains for commercial purposes.
"This authorization positions Khiron to be the first medical cannabis company to bring products to market in Colombia. Our facility and mother plants are ready to be utilized to commence commercial cultivation and production. We are focused on expediting our timing to market, while ensuring the highest standards of product quality and consistency. Khiron, as the market leader in regulatory knowledge, has again demonstrated our understanding of how to work with the various government entities in the contexts of the regulations for medical cannabis in Colombia," stated Alvaro Torres, CEO, of Khiron.
Khiron was one of two companies to receive quota for the cultivation of mother plants in 2017. The quota for mother plants is for cannabis strains containing over one-percent THC. The clones produced by the mother plants will be utilized to initiate full scale commercial production of medical cannabis. Khiron's medical grade strains represent a full portfolio of THC and CBD compositions and will be utilized to address specific patient conditions.
Source : newswire.ca