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DayaCann signs MoU with Columbian based Khiron Life Sciences Corp

Fuseworks Media
Fuseworks Media

Leading medical cannabis company AusCann Group Holdings Limited (ASX:AC8) (AusCann or ‘the Company’) is pleased to announce that its Chilean joint venture DayaCann has signed a non-binding Memorandum of Understanding (MoU) with Canadian listed medical cannabis company Khiron Life Sciences Corp. (TSXV:KHRN) (‘Khiron’).

The MoU contemplates a method of collaboration through which DayaCann, Fundación Daya and Khiron can offer new alternatives of medical cannabis to patients in Chile in addition to those currently provided by DayaCann and Fundación Daya.

To achieve this, the parties will engage in cultivation, manufacturing, pedagogical, scientific, commercial and political activities that present cannabinoid medicines as a viable medical option that meets the highest standards of quality and safety. As part of the agreement, Khiron will provide funds to support the development of these activities.

DayaCann is the only company in Chile to hold a medical cannabis production licence. AusCann and Fundación Daya formed DayaCann in 2016 [ASX Announcement: November 10, 2016] with the aim of becoming Latin America’s leading medicinal cannabis group. Under the MoU DayaCann will provide cultivation and manufacturing services to Khiron.

DayaCann has since completed two harvests at its 30-hectare facility yielding a total of over 1000kg of dried cannabis flower. A portion of this cannabis is being used by Chilean pharmaceutical manufacturing group, Knop Laboratories, to create medical cannabis products available to Chilean patients via a special access scheme.

Khiron has its core operations in Colombia and aims to address the unmet medical needs in a market of over 620 million people in Latin America.

AusCann Managing Director Elaine Darby: "We look forward to working with Khiron through our joint venture DayaCann. To be supplying them high quality cannabinoid medicines and working together on addressing the needs of the Latin American market. The MoU will not only expand DayaCann’s presence in Chile, but also give DayaCann wider access to the Latin American market."

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