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  • Avicanna partners with Ei.Ventures to develop and commercialize functional fungi-based products.
  • Initial focus of R&D efforts will be on functional, apoptogenic, fungi-based formulations in the form of consumer-friendly and single-dose products
  • Psilly-branded functional fungi-based products will be developed by Avicanna utilizing Avicanna’s proprietary delivery systems and scientific platform
  • Avicanna is a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products
  • Avicanna Inc. (AVCN) is up 4.84 per cent in early trading, at C$0.32 as of 9:35 am EDT

Avicanna (AVCN) has signed an Intellectual Property Licensing & Royalty Agreement (IPLRA) with Ei Ventures, Inc.

The companies will co-develop and commercialize functional fungi-based products.

The new product development efforts are to be led by Avicanna’s R&D team, leveraging the company’s existing scientific platform and proprietary delivery systems to develop appropriately dosed and synergistic formulations.

Aras Azadian, CEO of Avicanna, stated,

“Over the past six years, our team established a scientific platform that has led to the commercialization of several products across international commercial channels in the regulated cannabis industry. As a part of our continued growth, we are thrilled to be entering into this agreement where our goal will be to demonstrate our scientific capabilities across alternative natural products and developing new fungi-based functional products. We look forward to working towards developing the new products in the nutraceutical area in a standardized and evidence-based way, as we have with our initial cannabinoid-based products.”

The initial focus of the research and development efforts will be on functional, apoptogenic, fungi-based formulations in the form of consumer-friendly and single-dosed products.

David Nikzad, CEO of Ei, commented,

“We are excited to enter into this agreement with Avicanna to develop and commercialize the Psilly brand of products, starting with functional mushroom blends, gummies, and chocolates, and which relationship can potentially evolve to botanical psychedelic pharmaceutical products.”

He added,

“We believe in the Avicanna team and their mission to develop advanced and proprietary plant-based formulations, and we will bring our blockchain, Web3, and Metaverse assets to scale and support the success of the products developed under our agreement.”

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, including medical cannabis & wellness products and a pharmaceutical pipeline of patent-pending drug candidates.

Ei.Ventures Inc. is an early-stage tech company empowering mental wellness through psychoactive compounds, nutraceuticals, and technology.

Avicanna Inc. (AVCN) is up 4.84 per cent in early trading at C$0.32 as of 9:35 am EDT.

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