VANCOUVER, BC / ACCESSWIRE / July 28, 2020 / Brains Bioceutical Corp (Brains) is proud to announce it and Cronos Australia Limited (Cronos Australia) have entered into a Supply Agreement pursuant to which Brains has been selected as a strategic supplier of CBD products to Cronos Australia for distribution in Australia. Under this strategic partnership, Brains will utilize its patent pending industry leading scientific data package for its plant based Active Pharmaceutical Ingredient "API" cannabidiol "CBD" molecule to assist Cronos Australia register and gain approval from the Australian Therapeutics Goods Administration on finished medicinal cannabinoid products. Brains will provide Cronos Australia with finished CBD products manufactured with the "Brains Inside" Brains Pure CBD kitemark of quality.
This partnership adds to Brains strategic global footprint. The company has successfully shipped to over 10 countries around the world including Germany, USA, Austria, Brazil, Australia and most recently to a New Zealand crown corporation for research and testing. Brains supplies their API to select clinical trials in Australia at the Melbourne Brain Centre at the Royal Melbourne Hospital, University of Melbourne, and The Australian Centre for Cannabinoid Clinical and Research Excellence (ACRE).
"To be partnering with companies such as Cronos Australia, we are able to continue advancing our contract manufacturing partner relationships which strengthens our global reach and is expected to contribute to improved revenues in the future," commented Ricky Brar, CEO & Chairman of Brains Bioceutical Corp, "we are very excited to build out our strategic platform in Australia, in partnership with Rodney and his team at Cronos Australia".
Cronos Australia has partnered with Brains as a result of it being one of the few companies in the world with the ability to produce EUGMP certified, plant-based CBD, as an Active Pharmaceutical Ingredient ("API") at commercial volumes. Currently, Brains is one of the largest commercial manufacturers of EUGMP CBD API in the world, and due to global demand, Brains is currently expanding its Pfizer Discovery Park facility in Sandwich Kent UK to increase production of CBD and other EUGMP certified Cannabinoids. Brains is one of the leading global research and development companies with respect to CBD, and its experienced Science and Pharma teams were able to navigate the Australian mandate in a hyper-efficient way. Brains has received initial purchase orders and a deposit from Cronos Australia and will start with producing CBD oil, with all formulation, preparation, and packaging procedures performed in compliance with applicable regulations.
"As the market continues to evolve in Australia, we believe Brains brings value to our patients through their proprietary extraction and formulation expertise and industry leading quality with an API designation for the CBD" commented Rodney Cocks, CEO of Cronos Australia. "We are pleased to be partnering with Brains on the launch of our ‘Adaya' product line".
About Brains Bioceutical Corp:
Brains Bioceutical Corp is a global leader in pharmaceutical, wellness, athletics and veterinary cannabidiol (CBD) based Active Pharmaceutical Ingredient (API) production for commercial use. Our roots lie in nature, the place where exceptional is found. We are one of nine companies in the world to possess the API designation for CBD under Eudra GMPD and one of three in the world certified to produce from a natural, plant-based source. Our CBD API product lines are THC-free, non-GMO and produced in our wholly-owned BSPG Laboratories in the UK. Forever advancing and enriching, Brains is involved in international clinical trials, including a phase 3, double-blind clinical trial using CPB API for treatment of refractory epilepsy, exclusively supplied by Brains Bioceutical. ALTIS / Brains Bioceutical Living Lab, a state-of-the-art, interdisciplinary athletics training facility, explores, experiments, and evaluates the power of CBD API in elite athletes. Under the strategic leadership of our co-founder, Chairman & CEO Ricky Brar and with a rare hybrid of pharmaceutical and consumer goods senior executives, the Brains Bioceutical Team works with the science of nature, never against it, extracting its power to help make better.
About Cronos Australia
Cronos Australia Limited was established as a 50:50 joint venture between global cannabinoid company Cronos Group Inc (dual-listed -- NASDAQ: CRON, TSX: CRON) and NewSouthern Capital. The Company was formed to accelerate growth and capture opportunities relating to the emerging cannabis industry both domestically and internationally. The vision of Cronos Australia is to become a leading health and wellness company in the Asia Pacific region through the distribution of premium cannabis products.
CAUTIONARY STATEMENT: This news release contains forward looking statements or forward-looking information ("forward-looking statements") within the meaning of securities laws. Often, but not always, forward looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. Risks, uncertainties and other factors involved with forward-looking statements could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, there can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
SOURCE: Brains Bioceutical Corp