Harvest One Cannabis Inc. (TSXV:HVST) (“Harvest One” or the “Company”) through its wholly owned Swiss subsidiary, Satipharm AG (“Satipharm”), is pleased to advise that it’s Melbourne-based distribution partner, HL Pharma Pty Ltd (“HL Pharma”), has commenced distribution of Satipharm’s Gelpell-CBD™ capsules to approved patients in Australia.
Melbourne-based distribution partner HL Pharma commences distribution of Satipharm’s Gelpell-CBD™ capsules to approved patients in Australia
Gelpell-CBD™ capsules are one of the first medicinal cannabis products available to approved patients in Australia
Delivery of first products to Australian patients solidifies Australian market position and provides foundation for near-term revenue growth
The commencement of Satipharm sales in Australia is part of a comprehensive strategy to expand the international distribution of its products for commercial and clinical research purposes. Satipharm is focused on developing cutting-edge dose delivery technology for pharmaceutical-grade cannabis products providing physicians and patients with consistent and reliable dosing each and every time.
Satipharm’s Gelpell-CBD™ capsules are suitable for the treatment of a variety of medical conditions and are only available through the Therapeutic Goods Administration (TGA) Special Access Scheme (Cat B) or through the Authorised Prescriber scheme. The TGA administer the Special Access Scheme (SAS) and Authorised Prescriber Scheme which allow eligible medical practitioners to apply for approval to prescribe medicinal cannabis products.
Andreas Gedeon, Harvest One’s CEO commented:
“The market entry of Satipharm’s Gelpell capsules into the Australian prescription drug market proves the concept of our science based product development. The combination of controlled production of the raw materials, GMP processing into a pharmaceutical grade product and clinical testing proving safety and efficacy has made it possible to bring this unique product after years of R&D to Australian patients.”
“The Company is committed to aggressively further pursuing this approach and bringing its proprietary delivery technology to other commercial markets, Canada being the next one. We will be delighted to keep the market updated about our progress.”
Satipharm Gelpell-CBD™ Capsules – Product Overview
Satipharm’s Gelpell-CBD™ capsules have successfully undergone a Phase 1 Clinical Trial for safety and bioavailability and are produced under Good Manufacturing Practices (GMP) protocols in Switzerland. Two phase 2 clinical trials, in refractory pediatric epilepsy and multiple sclerosis patients, are currently underway.
The capsules’ active ingredient, cannabidiol, is derived from medical cannabis grown under Good Agricultural and Collection Practices (GACP) in controlled environments. The capsules are available in a 10mg and a 50mg CBD presentation and contain no detectable levels of Tetrahydrocannabinol (THC).
About Harvest One Cannabis Inc. (TSX.V:HVST)
Harvest One controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation and sales license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate and sell cannabis in a federally regulated environment.
For more information about Harvest One, please contact:
+ 1 (778) 855-2408
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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