Bio-Gate AG announced a licensing and development agreement with Avicanna Inc., a Canadian biopharmaceutical company, to enter the cannabidiol (CBD) market with skin care offerings.
As part of the collaboration, the companies will develop active cosmetic and dermatology products that combine Bio-Gate's MicroSilver BG and CBD, reportedly to deliver synergistic anti-inflammatory and antimicrobial effects. Following the development and initial success of in vitro studies, the products are said to be available for human applications soon.
The products will initially be marketed in Europe and North America. They comply with current EU regulations under a cosmetic designation and will be made available to existing clients of Bio-Gate in Europe and North America.
Avicanna has experience with cannabinoid product development and has commercialized CBD-based skin care products across several markets including North and South America, where the company will lead commercial efforts on the newly developed products as well. Bio-Gate is primarily responsible for sales and commercialization in European markets.
"We are delighted to have Avicanna as our strategic partner as a leading cannabinoid biopharmaceutical company that focuses on cosmetics, skin care and medical-based product applications,” said Marc Lloret-Grau, CEO of Bio-Gate AG. “The collaboration represents a bridge for Bio-Gate to further new technologies. We are once again expanding our product range and thus tapping into a new and extremely high growth market."
“We are thrilled to announce our partnership and achievement of our initial milestones with Bio-Gate, a European bio-medical company with a focus on health technologies like dermatology and skin care as well,” added Aras Azadian, CEO of Avicanna Inc. “We are also optimistic about the potential combination of Avicanna’s intellectual property with that of Bio-Gate’s in addition to the market access and expertise that the two companies can provide in this collaboration."