MONTRÉAL, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Elixxer Ltd. (TSXV: ELXR and OTC-QB: ELIXF) (“ELXR”) is pleased to announce that EU pharmaceutical company, Freia Farmaceutici Srl (“Freia”), has completed a full clinical trial, just published on Elsevier’s Food Research International, to demonstrate the efficacy and safety in children of its nutritional supplement Alfalife.
Alfalife is now selling in Italy and is in advanced discussions to launch this pharmaceutical product in Eastern Europe, China and Middle East & North Africa (MENA) regions.
It should be noted that Freia´s products are currently authorized under the framework of EU pharmaceutical law and not subject to the evolving, provisional regulation of cannabis.
Alfalife, used to treat metabolic changes & obesity and to reduce LDL cholesterol (claim authorized by the EFSA). Alfalife treats the same circumstances as statin medicines, with the significant advantages of getting no side effects or interaction from any therapy with other medicines. It is completely natural and vegan, providing fresh long-term therapy opportunities in one of the world's biggest patient markets estimated to exceed CAD16bn in 2018.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b74cc07d-c52a-411f-a913-28237c882275
Freia (www.freiafarmaceutici.it) was founded in 2009 and is presently the only company in Italy and one of few in Europe, to have created and are marketing legal hemp based pharmaceutical products approved by the Italian Ministry of Health and licensed for sale throughout the EU. Freia has now had two patents awarded and a further 5 patent applications have been registered. Additional applications for approval are scheduled for large global markets.
Freia has concentrated widely on R&D, clinical trials and IP in the following areas:
- Dermatology
- Cardiology
- Gynecology
- Gastroenterology
- Central nervous system
Freia's recent clinical studies in Europe are focusing on treating multiple sclerosis and supporting patients in cardiovascular transplants, as well as diets of dysphagic patients and lipoprotein disorders.
Mazen Haddad, Elixxer’s CEO, commented, “Freia’s experienced and respected leadership team has created a visionary company and an exciting product portfolio. Elixxer will benefit from a substantial competitive advantage through Freia’s clinical trial capacity in Europe and its capacity to handle the regulatory compliance process for pharmaceuticals and food products. Working together, Elixxer and Freia can achieve full potential, through global expansion and the creation of hemp and cannabis-derived medicinal products.”
Elixxer and Freia:
ELXR and Freia’s existing shareholders have entered into an investment agreement whereby ELXR will acquire a 35% equity interest in Freia for a total cash consideration of $4,847,033 CAD, with two instalments already made to date and the final instalment to be made later in 2019.
The investment agreement contains standard representations, warranties and covenants of the parties, and closing of the transaction is subject to standard closing conditions and final acceptance by the TSX Venture Exchange. ELXR has also appointed two members to Freia’s board of directors.
About Elixxer Ltd. (www.Elixxer.com)
Elixxer Ltd. is a leading cannabis investment firm with a focus on the legal global cannabis market. Through its growing portfolio of investment companies, ELXR is building a transversal integrated organization of interconnected legal cannabis companies with cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets. ELXR Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSXV: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF).
Through its partners and assuming pending transactions under review by the TSXV are approved, ELXR presently will have interests in Australia, Jamaica, Switzerland, Italy and Canada.
ELXR’s partners currently sell cannabis products in over 1,000 points of sale across Switzerland and Italy under the ONE Premium Cannabis and EasyJoint brands as well as medical cannabis oils in Australia through Little Green Pharma. ELXR's partners' branded products are available in a variety of formats including medicines, cosmetics, dry cannabis flower, tinctures, oils and seeds.
For further information please contact:
President, John McMullen, +1-416-803-0698, john@elixxer.com
Chief Financial Officer, Mark Shinners, +44 (0) 7827960971, mark@elixxer.com
Renmark Financial Communications Inc.
Melanie Barbeau: mbarbeau@renmarkfinancial.com
Media – Kellie Coppin: kcoppin@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
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