Avicanna, Ei. Ventures Partner To Develop And Launch Functional Fungi-Based Products

Avicanna Inc. AVCNF AVCN 0NN a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products has entered into an intellectual property licensing & royalty agreement with Ei.Ventures, Inc. to develop and commercialize functional fungi-based products.

“Over the past six years our team established a scientific platform that has led to the commercialization of several products across international commercial channels in the regulated cannabis industry. As a part of our continued growth, we are thrilled to be entering into this agreement where our goal will be to demonstrate our scientific capabilities across alternative natural products and developing new fungi-based functional products. We look forward to working towards developing the new products in the nutraceutical area in a standardized and evidence-based way, as we have with our initial cannabinoid-based products.” stated Aras Azadian, CEO of Avicanna.

The initial focus of the research and development efforts will be on functional, adaptogenic, fungi-based formulations in the form of consumer friendly and single dosed products. The new product development efforts are to be led by Avicanna’s R&D team, leveraging the company’s existing scientific platform and proprietary delivery systems to develop appropriately dosed and synergistic formulations.

“We are excited to enter into this agreement with Avicanna to develop and commercialize the Psilly brand of products, starting with functional mushroom blends, gummies and chocolates, and which relationship can potentially evolve to botanical psychedelic pharmaceutical products” stated David Nikzad, CEO of Ei. Nikzad. “We believe in the Avicanna team and their mission to develop advanced and proprietary plant-based formulations, and we will bring our blockchain, Web3 and Metaverse assets to scale and support the success of the products developed under our agreement.”

Photo: Benzinga; Sources: Geralt via Pixabay

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