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Avicanna and EI. Ventures enter into agreement to develop functional mushroom products

(Globe Newswire) Toronto — Avicanna Inc., cannabinoid biopharmaceutical company, has entered into an Intellectual Property Licensing & Royalty Agreement with Ei.Ventures, Inc. to develop and commercialize functional fungi-based products.

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

“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.” — Aras Azadian, CEO of Avicanna