Avicanna

What Avicanna does

Avicanna generates revenue through five channels: medical cannabis product sales (RHO Phyto) via pharmacy channels including Medical Cannabis by Shoppers and hospital pharmacies; pharmacist-led care and product fulfillment via MyMedi.ca; pharmaceutical-grade API sales (CBD, THC, CBG) through Aureus Santa Marta exports to 21 international markets; commercial sales of Trunerox in Colombia (launched late 2025); and licensing and supply agreements with pharmaceutical partners including a multinational pharma supply agreement for proprietary topical products. For FY2025, the company reported revenue of $25.48 million with a 53% gross margin and near break-even adjusted EBITDA of CAD $(0.29) million, with Q1 2026 revenue of $6.68 million (+6% YoY) marking the company's first profitable quarter (Q1 2025) achieved after several years of substantial operating losses. The company maintains offices in Toronto (headquarters), Santa Marta (cultivation and extraction), and Bogota (LATAM operations).

Name

Avicanna

Legal name

Avicanna Inc.

Website

https://avicanna.com

Company type

Public

Founded year

2017

Headcount range

51–100 employees

Short description

Avicanna is a commercial-stage, vertically integrated biopharmaceutical company that develops and commercializes evidence-based cannabinoid therapeutics across four business pillars: RHO Phyto medical cannabis formulations, MyMedi.ca patient care platform, pharmaceutical pipeline (including Trunerox), and Aureus Santa Marta active pharmaceutical ingredients across 20+ international markets.

Ownership category

akta.pro rank

Product category

Cannabinoid Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411), Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Impurity / Reference Standard Synthesis & Characterization (HLAGAHAG)

Keywords

• Cannabinoid pharmaceuticals
• Medical cannabis formulations
• Active pharmaceutical ingredients
• Drug delivery systems
• Derma-cosmetics CBD

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Medical Cannabis Product Sales (RHO Phyto): Sale of proprietary medical cannabis formulations under the RHO Phyto brand, including oral, sublingual, topical, and transdermal products with standardized cannabinoid ratios. Distributed through pharmacy channels including Medical Cannabis by Shoppers, hospital pharmacies, and adult-use retail channels.
2. MyMedi.ca Medical Cannabis Care Platform: Platform operated by Northern Green Canada Inc. generating revenue through pharmacist-led patient support, insurance adjudication, and product fulfillment for medical cannabis patients across Canada.
3. Active Pharmaceutical Ingredients (Aureus Santa Marta): Sale of pharmaceutical-grade cannabinoid APIs including CBD isolate/distillate, THC, and CBG to international partners for use in food, cosmetics, medical, and pharmaceutical products. Cultivated and extracted in Colombia at GACP/GMP-certified facility.
4. Pharmaceutical Drug Sales (Trunerox): Commercialization of approved pharmaceutical drug Trunerox (10% CBD oral solution) for seizures associated with Lennox Gastaut Syndrome and Dravet Syndrome. Commercialization launched in Colombia in late 2025.
5. Licensing and Supply Agreements: Revenue from licensing proprietary formulations and technologies to pharmaceutical partners globally, including supply agreements with multinational pharmaceutical companies for proprietary topical products.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Avicanna is a vertically integrated biopharmaceutical company that develops, manufactures, and commercializes proprietary evidence-based cannabinoid-based products across medical cannabis (RHO Phyto formulary), a pharmacist-led medical cannabis care platform (MyMedi.ca), a pharmaceutical pipeline (Trunerox 10% CBD oral solution for epilepsy), derma-cosmetics brands (Pura H&W, Pura Earth, re+PLAY, Pura Elements), and active pharmaceutical ingredients (Aureus Santa Marta) supplied to international partners. The platform combines proprietary drug delivery technologies (SEDDS, PwdRx, QUIX) with a 300,000 sq. ft. GACP/GMP-certified Colombian cultivation and extraction facility.

Product overview

Avicanna is a vertically integrated commercial-stage biopharmaceutical company operating a platform-plus-products architecture centered on cannabinoid-based therapeutics. The company supports four commercial-stage business pillars: (1) RHO Phyto™ medical cannabis formulary of proprietary standardized cannabinoid products across oral, sublingual, topical, and transdermal delivery systems; (2) MyMedi.ca medical cannabis care platform providing pharmacist-led patient support and reimbursement services; (3) a pharmaceutical pipeline including Trunerox™ 10% CBD oral solution for epilepsy and indication-specific drug candidates in dermatology, chronic pain, and neurology; and (4) Aureus Santa Marta™ active pharmaceutical ingredients supplying pharmaceutical-grade cannabinoids from its Colombian GMP-certified facility. The portfolio spans 50+ proprietary commercialized products and is supported by proprietary drug delivery technologies including QUIX™ nanotechnology, PwdRx oral delivery system, and SEDDS technology, distributed across 20+ international markets.

Differentiator

Problem solved

Functional benefit

Products and services

• RHO Phyto Pharmaceutical-grade medical cannabis formulary offering standardized cannabinoid formulations across oral, sublingual, topical, and transdermal delivery systems, distributed through pharmacy channels (Medical Cannabis by Shoppers), hospital pharmacies (Sunnybrook), and adult-use retail across Canada.
• MyMedi.ca Medical cannabis care platform operated by Northern Green Canada Inc., providing bilingual pharmacist-led patient support programs, specialty services for veterans, and reimbursement/adjudication collaboration with public and private payers, serving medical cannabis patients across Canada.
• Trunerox 10% CBD Oral Solution Pharmaceutical drug with proprietary formulation manufactured under GMP standards utilizing Avicanna's purified API, indicated as adjunctive treatment of seizures associated with Lennox Gastaut Syndrome and Dravet Syndrome; marketing authorization obtained in Colombia by INVIMA in Q1 2024 with commercialization launched in late 2025.
• Aureus Santa Marta Active pharmaceutical ingredients platform supplying pharmaceutical-grade CBD, THC, CBG, and other cannabinoids in forms including isolate, full spectrum, broad spectrum, water-soluble, distillate, and flower, sourced from a 300,000 sq. ft. GACP-certified cultivation and GMP-compliant extraction facility in Colombia, exported to 21+ international markets.
• Pura H&W Clinically backed CBD derma-cosmetics brand launched in the United States and expanded into the European Union through distribution partnerships.
• Pura Earth Evidence-based, dermatologist-tested CBD derma-cosmetics brand available in adult-use and medical channels across Canada and registered in Ecuador.
• re+PLAY CBD Wellness Brand CBD wellness brand offering topical products launched in the United States through a partnership with Harrington Wellness.
• PURA Elements Advanced cannabinoid delivery product line including THC- and CBD-based transdermal patches with all-natural composition and advanced delivery mechanisms.

Quantifiable outcome

• 74% higher bioavailability with PwdRx oral delivery vs conventional MCT oil formulations
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

16 partnerships are on record, tiered core and minor.

• University of Calgary - Cumming School of MedicinecoreStrategic or Co-development Partner · 16 March 2026Phase I randomized, double-blind, placebo-controlled dose-finding study evaluating dose-dependent effects of oral THC on anxiety and stress using Avicanna's proprietary capsule formulations. Generates dose response data and assesses interindividual variability.
• Multinational Pharmaceutical Company (Undisclosed)coreChannel Partner/ Reseller/ Distributor · 5 February 2024Supply and licensing agreement with a multinational pharmaceutical company. Avicanna completed first delivery of proprietary topical products to this multinational partner, demonstrating commercial milestone in B2B pharmaceutical channel.
• Ease Labs Pharma (Brazil)coreChannel Partner/ Reseller/ Distributor · 30 January 2024Commercialization approval granted for pharmaceutical preparation in Brazil. Avicanna and Ease Labs received joint regulatory approval enabling commercialization of Avicanna's cannabinoid pharmaceutical products in the Brazilian market.
• Harrington WellnessminorChannel Partner/ Reseller/ Distributor · 2 September 2023Launch of re+PLAY CBD Wellness Brand topicals in the United States through Avicanna LATAM S.A.S. partnership, expanding consumer wellness product distribution in the US market.
• Canadian Consortium for the Investigation of Cannabinoids (CCIC)minorGTM or Marketing Partner · 22 June 2023Sponsorship of the Canadian Cannabis Syllabus (CCS), a comprehensive online learning program focused on cannabis and cannabinoid use in clinical settings. Supports medical cannabis education for healthcare professionals.
• Langara College Applied Research CentrecoreStrategic or Co-development Partner · 13 June 2023Research collaboration focused on cannabinoid product characterization and drug pipeline development. Supported by a two-year NSERC grant. Research aims to understand absorption, pharmacokinetics, and pharmacodynamics to enhance proprietary product development.
• Santé CannabisminorStrategic or Co-development Partner · 14 December 2022Initiated real-world evidence study on musculoskeletal pain and inflammation using the RHO Phyto CBG transdermal gel topical product, expanding clinical evidence base for proprietary formulations.
• Tetra Bio-PharmaminorStrategic or Co-development Partner · 10 February 2022Strategic partnership for development and commercialization of cannabinoid-based therapies, combining complementary pipelines and capabilities in the biopharmaceutical space.
• Knop Laboratorios S.A. (Chile)coreChannel Partner/ Reseller/ Distributor · 14 January 2022Master Supply Agreement with Chilean pharmaceutical pioneer Knop Laboratorios S.A. for the supply and distribution of Avicanna's cannabinoid-based products in Chile.
• Canopy Growth, Curaleaf, VerdeaminorGTM or Marketing PartnerMajor industry players sponsoring Avicanna's 6th Annual Clinical Symposium on Cannabinoid Therapeutics, demonstrating industry validation of the symposium as a premier forum for clinical cannabinoid research.
• Northern Green Canada Inc.coreChannel Partner/ Reseller/ DistributorOperates the MyMedi.ca medical cannabis care platform. Provides pharmacist-led patient support, insurance adjudication, reimbursement services, and specialty care pathways for distinct patient groups including veterans. Bilingual services and physician authorization workflow.
• University Health Network (UHN)coreStrategic or Co-development PartnerProspective observational study on medical cannabis conducted through MyMedi.ca platform led by Dr. Hance Clarke, published in the Canadian Journal of Pain. 24-week study of chronic pain patients demonstrating statistically significant improvements in pain, anxiety, and quality of life.
• Johnson & Johnson Innovation, JLABS @ TorontocoreStrategic or Co-development PartnerAvicanna was the first and only cannabinoid-related company accepted into JLABS @ Toronto at the MaRS Discovery District, providing wet lab and office infrastructure for early-stage R&D operations. The no-equity-stakes model allows Avicanna to develop products independently.
• Shoppers Drug MartcoreChannel Partner/ Reseller/ DistributorMedical Cannabis by Shoppers platform distributes RHO Phyto formulations through Canada's leading pharmacy retailer with 30,000+ registered cannabis patients. Includes commercial portal, clinical education collaboration, and patient segmentation programs.
• McMaster University - Michael G. DeGroote Centre for Medicinal Cannabis ResearchcoreStrategic or Co-development PartnerDr. James MacKillop directs the Centre for Medicinal Cannabis Research at McMaster University. Avicanna engages through symposium speakers and academic collaborations for evidence-based research programs.
• Sunnybrook HospitalcoreChannel Partner/ Reseller/ DistributorRHO Phyto became the first medical cannabis brand available for dispensing in Sunnybrook Hospital pharmacy. Includes pharmacist-led consultation service for cancer patients, establishing clinical credibility.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tetra Bio-Pharma: Canadian cannabinoid-focused biopharmaceutical company developing prescription cannabinoid-derived therapies. Directly comparable to Avicanna as a TSX-listed cannabinoid pharma pursuing regulatory-grade drug development and Avicanna is a listed partner of Tetra.
• OrganiGram Holdings: Canadian licensed producer focused on medical cannabis, dried flower, and derivatives. Comparable to Avicanna's medical cannabis products and RHO Phyto formulary, with similar Canadian market positioning and physician-channel focus.
• MediPharm Labs: GMP-certified cannabis concentrate manufacturer focused on pharmaceutical-grade API and derivative products. Comparable to Avicanna's Aureus Santa Marta API business as a direct competitor in pharmaceutical-grade cannabinoid supply.

Broad incumbents

• Canopy Growth: One of the largest Canadian cannabis companies with medical cannabis, consumer, and international operations. Comparable to Avicanna's medical cannabis business and a sponsor of Avicanna's annual Clinical Symposium; operates at a much larger scale across broader product lines.
• Tilray Brands: Global cannabis and pharmaceutical lifestyle company with significant medical cannabis operations across multiple jurisdictions. Comparable as a multi-market medical cannabis and pharma peer, but operates at substantially larger scale with broader product portfolio.
• Aurora Cannabis: Major Canadian licensed producer with international medical cannabis operations and a focus on EU GMP-certified production. Comparable to Avicanna's medical cannabis formulary and Aureus API/export business at a much larger scale.
• Cronos Group: Canadian cannabis operator with international medical and consumer product lines, including cannabinoid-based product innovation. Comparable to Avicanna's medical cannabis and consumer wellness businesses; larger and more diversified.
• Jazz Pharmaceuticals (GW Pharmaceuticals): Specialty pharma company whose GW Pharmaceuticals subsidiary developed Epidiolex, the first FDA-approved CBD pharmaceutical for seizures. Directly comparable to Avicanna's Trunerox epilepsy program and pharmaceutical pipeline as a benchmark for cannabinoid drug development and commercialization.
• Cresco Labs (incl. Columbia Care): Multi-state US cannabis operator with combined Columbia Care wholesale and retail platform. Comparable to Avicanna's medical cannabis distribution and product strategy, particularly US derma-cosmetics via the re+PLAY partnership.

Emerging players

• Vectura Fertin Pharma: Specialty pharma in inhaled and oral drug delivery, partnered with Avicanna on a scientific and medical affairs collaboration for cannabinoid product development. Comparable as a technology/drug delivery partner in the cannabinoid pharma space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AvicannaInc
• Facebookfacebook.com/avicannainc
• LinkedInlinkedin.com/company/avicanna

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries4 records

Funding overview

Funding rounds23 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Avicanna