Avicanna Commercializes ‘Influid’, a Proprietary Water-soluble technology in the Canadian Market

Developed through Avicanna’s scientific platform, the patent-pending technology provides infusion of a range of cannabinoids into various beverages

Initial commercial use of the technology is a THC beverage infuser under the Viola brand available in Ontario through the Ontario Cannabis Store and expanding into other adult use and medical channels during Q4 2022

TORONTO, Nov. 29, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce the commercialization of patent-pending, water-soluble technology Influid with an initial Viola branded beverage infuser SKU for the Canadian market.

Influid Water-soluble Nanotechnology

Avicanna’s patent-pending, water-soluble formulation, Influid, utilizes nanotechnology to overcome the challenges of solubility and absorption of cannabinoids due to their hydrophobic properties. Developed by Avicanna’s R&D team, the Self-Nano-Emulsifying Drug Delivery System (“SNEDDS”) accelerates the overall speed and absorption of cannabinoids through surface area of contact in the gastrointestinal tract. The formulation demonstrated cannabinoid shelf-life stability and the delivery of a consistent concentration with each drop.

“Our research team continues to innovate and deliver new formulations with consumer experience in mind and we are excited to progress our proprietary water-soluble technology from the lab into initial commercial channels. The limitations of currently available water-soluble formulations are their low drug loading, poor stability, and the difficulty in masking solubilizer flavors, whereas the Influid technology addresses all those gaps,” stated, Dr. Frantz Le Devedec, Executive Vice President of Research and Product Development.

Product Launch and Commercial Potential

The initial commercialization of the technology was launched under the Viola brand in Ontario as a Water-Soluble THC Infuser. It is anticipated to expand across additional province throughout Canada beginning with New Brunswick as well as medical channels including the Medical Cannabis by Shoppers online platform in late Q4 2022. The product has been designed with consideration for the following benefits:

• Unflavoured, unscented and can be mixed into any cold or hot beverage of preference;
• Contains 500 mg of THC per bottle which is equivalent to 50 – 10mg THC beverages;
• Packaged into a portable 20 mL dropper bottle providing easy dosing of 0.5mg of THC per drop; and
• Serves as a solution for purchasing and dosing limitations related to THC for beverages and edibles.

The Influid technology is also available for commercialization and licensing opportunities through Avicanna’s international commercial network.

An application for a patent is currently pending with the United States Patent and Trademark Office (“USPTO”) on the oral cannabinoid compositions derived from the Influid technology. Avicanna is currently evaluating in-vivo pharmacokinetic profiles of its Influid technology in partnership with Dr. Jibran Khokhar at the University of Guelph.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

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Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Forward-looking information contained in this news release includes, without limitation, with respect to the Company’s future business operations, potential collaborations, the opinions or beliefs of management and future business goals. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated March 31, 2022, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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