Avicanna Inc.

Avicanna Inc. is a biopharmaceutical company focused on developing and commercializing cannabinoid-based products for medical and pharmaceutical applications, emphasizing scientific innovation and patient care. Avicanna Inc. was founded in 2016 in Toronto, Canada, and specializes in cannabinoid-based therapeutics.

The company has successfully completed 2 deals, with the most recent deal occurring on March 4, 2021. In this funding round, Avicanna raised CAD 5. 6 million through a Private Placement/Follow on, bringing its total amount raised to CAD 5. 6 million.

The company is led by CEO Aras Azadian and was founded by Setu Purohit. Avicanna is a commercial-stage biopharmaceutical company that specializes in the development and commercialization of evidence-based cannabinoid-based products tailored for medical and pharmaceutical markets. The company has created over thirty proprietary products, including medical cannabis formulations and advanced pharmaceutical products, marketed under several brands such as RHO Phyto. These products are designed to address various medical conditions by leveraging cannabinoids' therapeutic potential, with a focus on efficacy and safety across North America and Europe.

Avicanna generates revenue primarily through the sale of its proprietary cannabinoid-based products to healthcare providers, pharmacies, and consumers. It operates a business model encompassing both Business-to-Business (B2B) and direct-to-consumer channels, enhancing market reach through partnerships with healthcare facilities and wholesalers. The company anticipates achieving its first profitable quarter in Q1 2025 as it scales operations and enhances market penetration. In March 2021, Avicanna raised CAD 5.

6 million in a private placement, selling 4. 48 million shares at CAD 1. 25 per share on the Toronto Stock Exchange. This funding will be utilized for the clinical development of its primary product line, 'PURA Elements'.

The company aims to introduce new products in the cannabinoid space and expand into new markets, specifically targeting growth in Europe and North America by the end of 2023.