Khiron Life Sciences Corp. a global leader in medical cannabis throughout Europe and Latin America, applauds recent developments regarding the regulation of medical cannabis in Spain. The company now looks forward to bringing its clinical expertise and evidence from Khiron-owned Zerenia™ Clinics in Colombia, Peru, Brazil, and the UK to Spanish patients to guide medical professionals for the benefit of Spanish patients.

Spain has been an important exporter of medical cannabis in Europe, but Spain itself has not had national medical cannabis legislation in place. With a population of more than 47 million people in Spain, experts in the medical cannabis industry in Europe estimate that the potential market size for the medical cannabis market is at least 700,000 patients or 1.5% of the country's total population. Khiron has been active in Spain since establishing its subsidiary Khiron Life Sciences Spain in 2019.

For the past 3 years, Khiron has worked to encourage this regulatory shift in Spain by promoting educational initiatives together with a network of national collaborators such as the Spanish Society for Research on Cannabinoids (SEIC), the Iberoamerican Cannabinoid Research Network (CANNALATAN), Cannabmed (ICEERS), the Cannabis Hub (Polytechnic University of Barcelona), the Sociedad Clínica de Endocannabinología (SCE) and the Technological Agroalimentary Center in Extremadura (CTAEX). For Khiron, which already offers its cannabinoid-based medicines and clinical services in two of the markets for medical cannabis in Europe (Germany and the United Kingdom), it is a logical step into Spain, one which the company has been preparing for years. This process is further supported by the steady expansion of Khiron Europe's medical portfolio, which will grow with the recent acquisition of an EU GMP-certified German pharmaceuticals manufacturer and wholesaler.

The acquisition will accelerate Khiron's growth in Europe by controlling the complete value chain for its products and gaining direct access to European pharmacies.