Ayurcann To Manufacture And Distribute Israel's Innocan Pharma's CBD Topicals In Canada

Cannabis-focused extraction company Ayurcann Holdings Corp. AYUR has partnered with Israeli pharmaceutical tech company Innocan Pharma Corporation INNO IP to produce its CBD topical products.

Under the deal, the Toronto-based company agreed to manufacture Innocan's Relief and Go and SHIR Beauty skincare collections and distribute them in Canada.

In addition, Ayurcann will pay royalties to Innocan based on net sales of the products sold within Canadian recreational and medical cannabis markets.

The deal is now pending Health Canada's approval.

"We believe that Innocan's patent-pending, CBD-integrated products will be some of the highest quality CBD products to enter the market to date," Igal Sudman, CEO of Ayurcann said Wednesday. "The pharmaceutical expertise of Innocan together with Ayurcann's large extraction capacity and manufacturing capabilities will be combined to bring top of the line products to market at scale and price points that will allow for wide market access."

Iris Bincovich, InnoCan's CEO and member of Ayurcann's advisory board said that InnoCan is looking forward to collaborating with the Canadian company.

"The market opportunity in Canada is unique as Canada was one of the early adaptors of CBD usage, and potential customers in Canada are knowledgeable about the benefits offered by CBD," Bincovich added.

Ayurcann recently announced the listing of its shares on the OTCQB, a U.S. market operated by OTC Markets Group Inc. in New York.

Photo: Courtesy of CRYSTALWEED cannabis on Unsplash