SASKATOON, Saskatchewan--(BUSINESS WIRE)--ZYUS Life Sciences Inc. ("ZYUS"), a Canadian life sciences company leading scientific research and development in phyto-therapeutics, has completed its first international shipment of ZYUS’ first-generation cannabinoid oil formulations to the Australian medical cannabis market in preparation for the sales and distribution under Australia’s Therapeutic Goods Act (“TGA”) special access and authorized prescriber scheme. Through ZYUS’ Australian distributor, the company’s first-generation cannabinoid oil formulations will be accessible through approximately 4,300 pharmacies across Australia as physicians are introduced to ZYUS’ medical cannabinoid formulations. This achievement marks an important milestone in ZYUS’ mission to improve quality of life for millions of patients outside of Canada through plant-made therapeutics – leveraging cannabinoids and their transformational potential.
Australia is the first international market to receive ZYUS’ first-generation cannabinoid oil formulations, with the company planning to export its first-generation medical cannabinoid products to additional markets in accordance with pharmaceutical distribution and sales agreements it currently has in place with various international distributors. Three of ZYUS’ first-generation cannabinoid oil formulations, including Zylem 1:20 Oil (high CBD), Zylem 10:10 Oil (balanced CBD/THC), and Zylem 20:1 Oil (high THC), will be accessible through pharmacies across Australia as the company begins to scale its distribution network.
In addition to initiating distribution of ZYUS’ first-generation cannabinoid oil formulations in Australia, ZYUS continues to advance its research activities and has conducted its Phase One Human Osteoarthritis Pain Evaluation (HOPE) clinical trial in Australia. The formulation being studied, Trichomylin® softgels, is a proprietary novel fixed-dose cannabinoid formulation developed by ZYUS to alleviate chronic pain and has the potential to be a safe and effective alternative to opioids – without the devasting addictive qualities. ZYUS’ second-generation drug product candidates, including Trichomylin® softgels, will only be available to patients by prescription once it undergoes the required clinical trials and receives regulatory approval as a drug product.
“At ZYUS, we believe there is no mission more important than to improve quality of life for the millions suffering from chronic and sustained medical conditions.” said ZYUS CEO Brent Zettl “This first international shipment of cannabinoid oil formulations to Australia marks an important step in ZYUS’ journey to improve a growing number of patient outcomes, and another milestone in the company’s plans for global expansion.”
Quality in Manufacturing
ZYUS manufactures its cannabinoid extracts in an industry leading, pharmaceutical-grade extraction facility, with all products undergoing rigorous testing and more than 450 points of quality control to ensure production of standardized formulations that patients and healthcare practitioners can depend upon. ZYUS was recently awarded EU-Good Manufacturing Practice (EU-GMP) certification for its Canadian manufacturing facility, enabling the company to execute upon its well-developed plans for expansion into a number of key international markets.
Forward-Looking Information:
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ZYUS to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, expectations with respect to our business plans, research activities, product lines and efficacy and patient services.
Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “expected,” “expectation,” “anticipates,” “believes,” “intends,” “estimates,” “predicts,” “continues,” “potential,” “targeted,” “plans,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could,” “would” or “should” occur or be achieved, or the negative of these terms or other comparable terminology. Forward-looking statements are based on certain assumptions including assumptions relating to the ability of ZYUS to continue to ensure product availability, consistency and quality through robust procurement, manufacturing and testing processes, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks include the risk that ZYUS is unable to continue to export its products internationally, secure regulatory approvals of its formulations, ensure product availability, consistency and quality through robust procurement, manufacturing and testing processes.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. ZYUS does not assume any obligation to update or revise any forward-looking statements or information, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
