The Valens Company Inc. (TSX: VLNS) (NASDAQ: VLNS) (the “Company,” “The Valens Company” or “Valens”), a leading manufacturer of cannabis products, announced today two agreements with PMI Mexico, a subsidiary of Merger Group, one of the main drug suppliers of the Mexican government. Under the first agreement, Valens will supply CBD for PMI’s ongoing pharmacokinetic (PK) stage medical trials which are focused on anti-inflammatory applications of medical-grade, nano-water emulsified CBD oil. The clinical trial has already been approved by The Medical Ethics Board of Mexico. The clinical trial, which is set to begin once Valens shipments arrive in Q1 of 2022, will be conducted across private hospitals in Mexico. At the conclusion of the trial, Valens will be the sole manufacturer and global distributor in collaboration with PMI.
Under the second agreement, Valens will manufacture and distribute CBD-infused and uninfused PredilifeⓇ products globally while PMI will be responsible for distribution of the PredilifeⓇ products in Mexico. Predilife is an Agave-based prebiotic powder which has been submitted as a “drug master file” (DMF) to the FDA. Valens will manufacture the products at its Green Roads facility in Florida, where it will be infused with CBD as required and then packaged and distributed through Valens’ third party supplier channels across Asia, U.S., Latin America and Mexico. The formulation will be offered in both powder and liquid sachets, initially for human consumption, with animal variations planned for the second half of 2022.
“The relationship we have built with PMI Mexico marks an important milestone for Valens’ international expansion and the beginning of our Central and Latin America strategy,” said Tyler Robson, CEO, Chair & Co-founder of The Valens Company. “Predlife has significant and unique versatility in terms of reach and market potential given it can be consumed infused or uninfused with CBD. This enables unimpeded distribution of the product regardless of local cannabis regulations, providing Valens access to several international markets. This agreement diversifies our global strategy and increases our revenue streams through creative, non-traditional strategies which separate us from our peers.”
Gustavo Bustillo PhD, Scientific Director of PMI said, “In Valens we found a technological partner which was capable of providing us not only the required quality but also the technical support and necessary documents needed to comply with pharmaceutical regulations. We look forward to initiating our commercial relationship and watching it expand globally over the coming years.”
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