“The acquisition of the DEL will allow greater flexibility to Zollaris to provide pharmaceutical API and to run directly in house analytical testing for cannabinoids to psilocybin and all the other pharmaceutical actives ingredients”
HAWKESBURY, Ontario (PRWEB)
April 08, 2022
Zollaris Laboratories Corporation. (hereafter, “Zollaris” and “Company”) a new leader in Innovative Drug Development and Manufacturing Services announces that it has completed a transaction in order to obtain ownership of a Montreal-based pharmaceutical company and a Health Canada Approved Drug Establishment Licence (DEL) for Active Pharmaceutical Ingredients (API).
Since 2020, Zollaris Labs has expanded its core-business activities with a focus on production, analysis, compounding and re-packaging of Active Pharmaceutical Ingredients (API). This latest transaction will permit large scale manufacturing and analytical services.
According to Health Canada, all API production must be conducted under Good Manufacturing Process (GMP) controls and regulations and in a suitably controlled environment. Obtaining a Drug Establishment Licence (DEL) approved by Health Canada, with the present transaction, empower the Company to execute a broad range or services to other industrial customers.
Zollaris has recently received authorization for handling of Psilocybin API from the Health Canada Office of Controlled Substances. With this latest DEL acquisition, Zollaris has all of the requirements to start clinical study material production for patients and provide services to pharmaceutical companies, as well as hospitals and ongoing clinical trials around the world.
ABOUT ZOLLARIS
Zollaris Corporation is a 30,000 state-of-the-art facility located in Hawkesbury, ON. The facility was commissioned in 2019 and founded by experience pharmaceuticals leaders. Zollaris has several categories of licenses which enable it to contract manufacturing, perform technical analysis of natural products (“NPNs”), cannabinoids and psychedelics for customers and its own brands to be sold in the appropriate medical and recreational channels.
FORWARD LOOKING STATEMENT
Some statements in this release may contain forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include the Company’s inability to obtain sufficient financing to execute its business plan; competition; regulation; anticipated and unanticipated costs and delays; the success of the Company’s research and development strategies; the ability to obtain orphan drug status; the applicability of the discoveries made; the successful and timely completion and uncertainties related to the regulatory approval process; the timing of future clinical trials; the timing and outcomes of regulatory or intellectual property decisions; and other risks disclosed in the Company’s public disclosure record on file with the relevant regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not undertake any obligation to publicly update them to reflect new information or subsequent events or otherwise except as required by applicable securities legislation
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