HERZLIYA, Israel and CALGARY, AB, Jan. 29, 2025 /CNW/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) ("Innocan" or the "Company"), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce that its subsidiary, BI Sky Global (BI), successfully completed the Human Repeated Insult Patch Test (HRIPT) for Sensitization and Irritation Testing, ensuring the safety of its cosmetic products. HRIPT is the personal care industry's standard safety test for cosmetic, OTC drug, and topical medical devices.
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In addition, the Company announced that it has surpassed the important sales milestone of an average of 5,000 units per day in 2024. This achievement is particularly significant as the typical minimum production quantity for most cosmetic products is 5,000 units in total, while BI Sky Global sells this amount daily. This significant sales volume far exceeds the requirements for annual production agreements with key third-party manufacturing companies.
"Successfully completing the HRIPT testing and achieving a sales milestone of 5,000 units per day on average underscores our strong commitment to providing the highest quality products that are in demand by the market," commented Roni Kamhi, CEO of BI Sky Global. "This positions us very well for further expansion in sales and marketing as we capitalize on our success and bring the highest quality products to market."
Iris Bincovich, CEO of Innocan Pharma, added: "This is further clear evidence of how the strength of our subsidiary BI Sky Global's operations is delivering great value to our shareholders."
About Innocan
Innocan is an innovator in the pharmaceuticals and wellness sectors. In the pharmaceuticals sector, Innocan developed a CBD-loaded liposome drug delivery platform with exact dosing, prolonged and controlled release of synthetic CBD for non-opioid pain management. In the wellness sector, Innocan develops and markets a wide portfolio of high-performance self-care and beauty products to promote a healthier lifestyle. Under this segment Innocan carries on business through its 60% owned subsidiary, BI Sky Global Ltd. which focuses on advanced, targeted online sales.
For further information, please contact: Iris Bincovich, CEO +1-516-210-4025 +972-54-3012842 +44 203 769 9377 info@innocanpharma.com
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Cautionary note regarding forward-looking information
Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company's products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.
Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan's public reports and filings which are available under Innocan's profile at www.sedar.com.
Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.
