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Dentsu Inc. Q1 FY2019 Consolidated Financial Results

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Reading Time: 9 minutes

(The first quarter ended March 31, 2019 – reported on an IFRS basis)

TOKYO–(BUSINESS WIRE)–Dentsu Inc. (TOKYO:4324)(ISIN:JP3551520004):

Executive Summary

  • In Q1 FY2019, the Dentsu Group delivered total growth of revenue less
    cost of sales of 2.3% (constant currency basis) and organic growth of
    -1.6%.
  • The Japan business delivered -0.8% and -2.7% respectively, mainly due
    to a decrease in traditional media in the Japanese market, partially
    offset by digital-related services and favorable results in
    subsidiaries.
  • The international business, Dentsu Aegis Network, delivered 4.8%
    growth of revenue less cost of sales (constant currency basis) and
    -0.7% organic growth, impacted by negative growth in APAC mainly due
    to weakness in the Australian market.
  • Despite a soft start to the year, revenue is expected to build as the
    year progresses.
  • There is no change to the full-year guidance announced in February
    2019.
 

Financial Results for Q1 FY2019

Consolidated Group (million yen)   Q1
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FY2019

  Q1

FY2018

  YoY

change, %

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Constant
currency
basis, %

Revenue 250,578 242,107 3.5
Revenue less cost of sales* 227,974 226,665 0.6 2.3
Statutory results

• operating profit

9,294 22,393 (58.5)

• net profit (attributable to owners of the parent)

(2,583) 10,788

• basic EPS

(9.16) yen 38.27 yen
Underlying results**

• operating profit

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24,472 32,744 (25.3) (25.2)

• operating margin

10.7% 14.4% (370) bps (390) bps

• net profit (attributable to owners of the parent)

12,551 17,972 (30.2)

• basic EPS

44.53 yen 63.76 yen (30.2)
EBITDA*** 32,201 37,022 (13.0)
Average JPY/USD rate 110.2 yen 108.3 yen 1.8
Average JPY/GBP rate   143.7 yen   150.9 yen   (4.8)  

*Revenue less cost of sales is the metric by which the Group’s
organic growth is measured. Organic growth represents the constant
currency year-on-year growth after adjusting for the effect of
businesses acquired or disposed of since the beginning of the previous
year.

** See below for definition of “underlying.”
***
See below for definition of “EBITDA.”

Highlights of Q1 FY2019 results

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  • The Dentsu Group delivered growth of revenue less cost of sales of
    2.3% (constant currency basis) :
    • -0.8% in Japan, and 4.8% at Dentsu Aegis Network driven by
      acquisitions.
    • The breakdown in contribution is: +8.8 billion yen from M&As, -3.7
      billion yen by organic growth, and -3.7 billion yen from foreign
      exchange rates.
  • The Group produced organic growth of -1.6% :
    • -2.7% in Japan, and -0.7% at Dentsu Aegis Network. The Japan
      business declined due to a decrease in traditional media in the
      Japanese market, partially offset by digital-related services and
      favorable results in subsidiaries. The international business was
      impacted by negative growth in APAC, due to weakness in the
      Australian market, softer client spend and cycling out of account
      lost in FY2018.
    • Digital business contribution to total revenue less cost of
      sales
      reached 47.0% (Q1 FY2018: 43.7%), including 27.7% in
      Japan (Q1 FY2018: 23.0%), and 62.5% at Dentsu Aegis Network (Q1
      FY2018: 60.8%).
    • International business contribution to total revenue less cost
      of sales
      reached 55.5% (Q1 FY2018: 54.9%).
  • Group underlying operating profit was 24.4 billion yen (Q1
    FY2018: 32.7 billion yen).
    • 24.6 billion yen in Japan (Q1 FY2018: 30.4 billion yen), and -0.1
      billion yen at Dentsu Aegis Network (Q1 FY2018: 2.3 billion yen).
    • Difference between the underlying operating profit and statutory
      operating profit was mainly due to amortization of M&A related
      intangible assets.
  • Group underlying operating margin was 10.7% (Q1 FY2018: 14.4%).
    • 24.3% in Japan (Q1 FY2018: 29.7%), and -0.1% at Dentsu Aegis
      Network (Q1 FY2018: 1.9%).
    • The decline in Japan was mainly due to planned SG&A costs related
      to investments to drive future growth. At Dentsu Aegis Network, a
      softer-than-expected start to the year impacted on the operating
      margin which was seasonally low in the first quarter and was
      within budget.
  • Underlying net profit (attributable to owners of the parent) and
    underlying basic EPS
    decreased by 30.2% and 30.2% respectively,
    mainly due to the decline of underlying operating income and an
    increase of finance costs.
    • Difference between the underlying net profit and statutory net
      profit was mainly due to operating profit adjustments and a loss
      on M&A related put-option liabilities.

Toshihiro Yamamoto, President and CEO, Dentsu Inc., said:

“In Q1 FY2019, Dentsu Group recorded a decline in organic growth of
-1.6%, with -2.7% in Japan and -0.7% at Dentsu Aegis Network.

It
has been a soft start to the year and challenging market conditions
remain, however, we expect to see revenues build through the remainder
of the year. In Japan, a number of world-class, one-off events will
positively impact our results particularly in H2 FY2019. At Dentsu Aegis
Network, the cycling out of accounts lost in FY2018 and the on-boarding
of new business wins will begin to impact results in H2 FY2019.

In Japan, investment has continued to drive sustainable future growth
with key investments in our IT infrastructure and our digital business.
At Dentsu Aegis Network, operational excellence remains a key priority,
with the next stage focusing on client and media operation processes.

At the end of March 2019, our shareholders endorsed our plans to
reorganize the corporate structure of Dentsu Inc. effective January 1,
2020. The holding company ‘Dentsu Group Inc.’ will support all Dentsu
Group companies and our combined 62,000 talented people. The new
structure will allow for greater corporate governance and improved
integration between Dentsu in Japan and Dentsu Aegis Network.
Workstreams are already underway across many of our corporate functions
and business lines to ensure a smooth and seamless transition.

There is much to do in the remainder of the year, but through
maintaining our continued focus on driving innovation and pursuing
excellence in everything we do, I am confident we can continue to
deliver even greater value for our clients.”

Q1 FY2019 Consolidated Financial Results

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1. Q1 FY2019 Performance Review

Japan:

The Group’s operations in Japan delivered organic growth of -2.7% in Q1
FY2019. This was mainly due to a decrease in traditional media in the
Japanese market, partially offset by digital-related services and
favorable results in subsidiaries.

Underlying operating margin in Japan declined by 540 bps to 24.3%. This
was mainly due to planned SG&A costs related to investments to drive
future growth.

International:

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Dentsu Aegis Network delivered organic growth of -0.7% in Q1 FY2019. The
Americas reported positive organic growth, EMEA was negative but with a
mixed performance across the region and APAC (excluding Japan) was
negative, impacted by weakness in Australia.

The Q1 2019 margin is impacted by the usual seasonality expected in the
first quarter. We continue to control our costs responsibly and still
expect to deliver margin improvement in FY2019 as guided in February
2019.

Total net new business year-to-date for media is significantly ahead of
this stage last year with no major account losses. The pitch pipeline is
healthy with the current opportunities over 80% offensive. The win rate
for digital, creative & experiential is also significantly ahead of last
year’s run rate with a good spread of accounts won across all regions.

International – Regions:

In EMEA, Dentsu Aegis Network reported -0.4% organic growth in Q1
FY2019. There was a mixed performance across the region. Germany, Spain
and Italy posted double-digit growth, while Russia, Switzerland and the
Netherlands performed well. The Nordics experienced some slowdown,
facing tougher comparables after a very strong 2018, while the UK and
France were in negative territory.

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In the Americas, Dentsu Aegis Network reported 0.1% organic growth in Q1
FY2019. In the U.S. the slowdown was due to timing of client spend and
the cycling out of several client accounts. Growth in the U.S. is
expected to improve in H2 FY2019 as new business wins impact our
revenues. Canada performed well while challenging macro-economic
conditions in Brazil impacted growth.

In the APAC region (excluding Japan), Dentsu Aegis Network reported
-3.0% organic growth in Q1 FY2019. Australia remains a difficult market.
A combination of macro factors and account losses cycling out will
continue to add pressure until H2 FY2019. New management has recently
joined in Australia and will continue to manage the business to reflect
the challenging operating environment we face. China returned to
positive growth in the quarter, new management has recently been
installed. There has been good growth across other markets within APAC,
including India and Thailand.

Acquisitions:

Acquisitions continue to accelerate the Group strategy by providing
innovation, scale, geographic and capability infill as well as bringing
new entrepreneurial talent into the organization. In Q1 FY2019, a total
of five new acquisitions were signed. Two acquisitions were made in
EMEA, one in the Americas and two in APAC.

In February 2019, we welcomed Happy Marketer, Southeast Asia’s leading
data-driven digital marketing agency. Joining Merkle as Happy Marketer,
a Merkle Company, this acquisition will provide a strategic foundation
for Merkle’s data, analytics and CRM solutions, enabling the delivery of
people-based marketing at scale across the region.

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Note:
– IFRS 16 “Leases” is applied from January 1, 2019. Past
results are not restated under IFRS 16.

Further information

Further details of these results, including all related financial
statements, can be found in the Investor Relations section of the Dentsu
Inc. website: http://www.dentsu.com/ir.

Definitions of “underlying” and “EBITDA”

  • Underlying operating profit: KPI to measure recurring business
    performance which is calculated as operating profit added with
    amortization of M&A related intangible assets, acquisition costs,
    share-based compensation expenses related to acquired companies and
    one-off items such as gain/loss on sales and retirement of non-current
    assets and impairment loss.
  • Operating margin: Underlying operating profit divided by
    Revenue less cost of sales.
  • Underlying net profit (attributable to owners of the parent):
    KPI to measure recurring net profit attributable to owners of the
    parent which is calculated as net profit added with adjustment items
    related to operating profit, gain/loss on sales of shares of
    associates, revaluation of earnout liabilities / M&A related
    put-option liabilities, tax-related, NCI profit-related and other
    one-off items.
  • Underlying basic EPS: EPS based on underlying net profit
    (attributable to owners of the parent).
  • EBITDA: Operating profit before depreciation, amortization and
    impairment losses.
 

Reconciliation from Underlying to Statutory Operating
Profit
in Q1 FY2019

Consolidated Group (million yen)   Q1 FY2019   Q1 FY2018   Change, %
Underlying operating profit 24,472 32,744 (25.3)
Adjustment items: (15,177) (10,350)
Amortization of M&A related intangible assets (9,004) (8,792)
Acquisition costs (421) (320)
Share-based compensation expenses related to acquired companies (1,985) (1,099)
One-off items (3,767) (140)  
Statutory operating profit   9,294   22,393   (58.5)
 

Reconciliation from Underlying to Statutory Net
Profit (Loss)
in Q1 FY2019

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Consolidated Group (million yen)   Q1 FY2019   Q1 FY2018   Change, %
Underlying net profit 12,551 17,972 (30.2)
Adjustment items: (15,135) (7,184)
Operating profit adjustments (15,177) (10,350)
Gain (loss) on revaluation of earnout liabilities and M&A related
put-option liabilities
(7,216) (1,918)
Related income tax expense 6,292 4,373
Adjustments attributable to non-controlling interests 967 710  
Net profit (loss)   (2,583)   10,788  
 

P/L from Statutory Operating Profit to Statutory Net Profit
(Loss) in Q1 FY2019

Consolidated Group (million yen)   Q1 FY2019   Q1 FY2018   Change, %
Operating profit 9,294 22,393 (58.5)
Share of results of associates 160 916 (82.5)
Profit before interest and tax 9,454 23,310 (59.4)
Net finance income (costs) (10,939) (4,286)
Finance income 1,302 1,502 (13.3)
Finance costs 12,241 5,789 111.4
Profit (loss) before tax (1,484) 19,023
Income tax expense (553) 6,781
Net profit (loss) (930) 12,241
Attributable to owners of the parent (2,583) 10,788
Attributable to non-controlling interests   1,652   1,453   13.6
 

Quarterly Organic Growth for the Dentsu Group, Dentsu in
Japan, and Dentsu Aegis Network

    Dentsu Group Total   Dentsu in Japan   Dentsu Aegis Network Total
2019   2018   2017* 2019   2018   2017* 2019   2018   2017*
Q1 (Jan – Mar) (1.6%) 2.1% 3.7% (2.7%) 1.9% 4.3% (0.7%) 2.2% 3.1%
Q2 (Apr – June) 5.9% (4.6%) 8.4% (7.6%) 4.5% (2.7%)
Q3 (Jul – Sept)

5.4%

(2.1%)

2.7%

(4.8%)

7.0%

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(0.2%)
Q4 (Oct – Dec) 0.9% 2.8% (3.0%) 5.5% 3.4% 1.2%
Fiscal Year     3.4%   0.1%     2.1%   (0.3%)     4.3%   0.4%

* IFRS 15 “Revenue from Contracts with Customers” is applied on the
FY2017 results and their figures are adjusted.

 

Quarterly Organic Growth for Dentsu Aegis Network by region

   

Dentsu Aegis Network
EMEA

 

Dentsu Aegis Network
Americas

 

Dentsu Aegis Network
APAC

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2019   2018   2017* 2019   2018   2017* 2019   2018   2017*
Q1 (Jan – Mar) (0.4%) 2.7% 5.8% 0.1% 4.6% 0.6% (3.0%) (2.9%) 4.5%
Q2 (Apr – June) 4.8% (0.3%) 6.5% (4.1%) 0.8% (3.8%)
Q3 (Jul – Sept)

8.2%

5.9%

5.3%

(2.0%)

8.2%

(5.5%)
Q4 (Oct – Dec) 12.0% 1.3% 3.5% (0.0%) (9.6%) 2.6%
Fiscal Year     7.4%   3.1%     4.9%   (1.5%)     (1.7%)   (0.6%)

* IFRS 15 “Revenue from Contracts with Customers” is applied on the
FY2017 results and their figures are adjusted.

 

FY2019 Forecasts (No change from the announcement in February
2019)

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Consolidated Group
(million yen)

 

FY2019
Forecasts

 

FY2018
Actual
Results

 

YoY
change, %

 

Constant
currency
basis, %

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Revenue 1,097,900 1,018,512 7.8
Revenue less cost of sales 986,400 932,680 5.8 7.9
Japan 400,800 369,258 8.5 8.5
International total 585,600 563,852 3.9 7.4
Underlying operating profit 157,400 153,229 2.7 4.3
Japan 81,300 80,268 1.3 1.3
International total 76,100 72,963 4.3 7.5
Operating margin 16.0% 16.4% (40) bps (50) bps
Japan 20.3% 21.7% (140) bps (140) bps
International total 13.0% 12.9% 10 bps 10 bps
Underlying net profit 95,400 97,419 (2.1)
Underlying basic EPS 338.42 yen 345.59 yen (2.1)
Operating profit 122,500 111,638 9.7
Net profit 61,400 90,316 (32.0)
JPY/USD rate* 109.0 yen 110.4 yen (1.3)
JPY/GBP rate*   140.7 yen   147.5 yen   (4.6)  

* FY2019 forecasts are based on average exchange rates in January
2019. Actual exchange rates in FY2018 actual results are annual average
exchange rates in 2018.

Note: Underlying net profit,
Underlying basic EPS and Net profit: Excluding attribution to
non-controlling interests.

About the Dentsu Group

Dentsu is the world’s largest advertising agency brand. Led by Dentsu
Inc. (Tokyo: 4324; ISIN: JP3551520004), a company with a history of 117
years of innovation, the Dentsu Group provides a comprehensive range of
client-centric brand, integrated communications, media and digital
services through its ten global network brands—Carat, Dentsu, dentsu X,
iProspect, Isobar, mcgarrybowen, Merkle, MKTG, Posterscope and Vizeum—as
well as through its specialist/multi-market brands. The Dentsu Group has
a strong presence in over 145 countries and regions across five
continents, and employs more than 62,000 dedicated professionals. Dentsu
Aegis Network Ltd., its international business headquarters in London,
oversees Dentsu’s agency operations outside of Japan. The Group is also
active in the production and marketing of sports and entertainment
content on a global scale. http://www.dentsu.com/

Contacts

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For additional enquiries

Media –
Please contact Corporate Communications:
Tokyo
Dentsu
Inc.
Shusaku Kannan:
+81 3 6216 8042
[email protected]
London
Dentsu
Aegis Network
Dani Jordan:
+44 744 7828
[email protected]

Investors & analysts –
Please contact Investor
Relations:

Tokyo
Dentsu Inc.
Yuji Ito:
+81
3 6216 8015
[email protected]
London
Dentsu
Aegis Network
Kate Stewart:
+44 (0)203 535 8237
[email protected]


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Cannabis

Rodedawg (OTC: RWGI) Launches TikTok Shop to Expand into Global E-Commerce Market

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Industrial Hemp Market Soars from $6.6 Billion to $25.7 Billion by 2034, Fueled by Sustainable Innovation

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industrial-hemp-market-soars-from-$66-billion-to-$25.7-billion-by-2034,-fueled-by-sustainable-innovation

Industrial Hemp Playing Key Role in Carbon Sequestration and Soil Remediation Aligning with Sustainable Farming Practices

ROCKVILLE, Md., June 12, 2024 /PRNewswire/ — Based on a new research report by Fact.MR, worldwide sales of Industrial Hemp Market are estimated to reach US$ 6.6 billion in 2024. By 2034, this market is anticipated to skyrocket to a staggering US$ 25.7 billion, driven by a steady CAGR of 14.5% from 2024 onward.

Demand for industrial hemp is skyrocketing as more and more industries recognize its versatile and sustainable properties. Once overlooked, this remarkable crop is now being embraced for its myriad uses across various sectors. From textiles and construction materials to biofuels and nutritional supplements, hemp’s applications are seemingly endless.

Environmentally conscious consumers are driving much of this demand, as hemp requires minimal pesticides and herbicides, making it an eco-friendly choice for sustainable farming. Its ability to sequester carbon dioxide and remediate contaminated soil further adds to its appeal. Moreover, hemp’s durability, lightweight nature, and renewable qualities make it an attractive alternative to traditional materials in manufacturing.

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As awareness of hemp’s benefits continues to spread, industries are investing in research and development to unlock its full potential. With its multi-faceted applications and sustainable credentials, industrial hemp is poised to become a cornerstone of the green economy, meeting the growing demand for environmentally responsible products and practices.

Key Takeaways from the Market Study:

  • Based on nature, sales of organic hemp are estimated to reach a valuation of $3.2 billion in 2024.
  • The market in Mexico is evaluated to expand at a CAGR of 13.6% from 2024 to 2034.
  • Revenue from sales of industrial hemp in East Asia is projected to reach $5.9 billion by the end of 2034.
  • The South Korean market is evaluated to reach a valuation of $1.4 billion by the end of 2034.
  • North America is analyzed to hold a global market share of 24.3% by 2034.

“Use of industrial hemp in textiles, medicines, and food, coupled with global sustainability trends, is creating opportunities for suppliers. Governments worldwide are collaborating to boost global hemp distribution,” says a Fact.MR analyst.

Increasing Awareness of Therapeutic Potential of Hemp in Medical Applications

Once relegated to the fringes, industrial hemp is rapidly emerging as a sustainable wonder crop, fueling a wave of cutting-edge innovations across diverse industries. As researchers and entrepreneurs unlock its vast potential, hemp is proving to be a versatile and eco-friendly resource, paving the way for exciting new products and applications.

The automotive industry is also exploring the use of hemp fibers as a reinforcement material for lighter, stronger, and more sustainable car parts. These natural fiber composites could reduce vehicle weight, improving fuel efficiency and reducing emissions.

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In the field of biotechnology, scientists are harnessing the unique properties of hemp to develop innovative products. For instance, researchers are exploring the use of hemp-derived compounds, such as cannabidiol (CBD), for their potential therapeutic applications in various medical conditions.

Japan’s Industrial Hemp Market Poised for Rapid Growth

The industrial hemp market in Japan is projected to grow at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2034, with the country expected to hold a 29.4% market share by the end of the period.

Increased investment in research is crucial for unlocking the full potential of industrial hemp. Research efforts may focus on improving hemp genetics for higher yield and quality, optimizing cultivation practices, and exploring innovative applications such as advanced nanomaterials or pharmaceuticals. This investment fosters innovation and establishes a foundation for the hemp industry’s long-term growth and competitiveness in an ever-evolving market.

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Expanding Opportunities in the United States Industrial Hemp Market

The industrial hemp market in the United States offers abundant opportunities for stakeholders to broaden their product portfolios. Beyond traditional uses like textiles and oils, there is significant potential for hemp-based products to evolve into biodegradable polymers, eco-friendly packaging, and even biofuels. This diversification, a prominent trend in the industrial hemp market, not only targets emerging markets but also positions hemp as a versatile and sustainable resource with applications across various industries.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the industrial hemp market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on nature (organic, conventional), product type (fiber, seeds), and end use (food & beverages, consumer textiles, personal products, industrial applications, hemp CBD, supplements, other consumer products), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

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About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. 

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Innocan Pharma Announces Successful Preliminary Safety Evaluation of LPT-CBD in Minipigs

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HERZLIYA, Israel and CALGARY, AB, June 11, 2024 /PRNewswire/ — 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 the success and conclusion of a preliminary safety evaluation of Innocan’s single injection and sustained-release LPT-CBD conducted on minipigs. The animals demonstrated excellent drug tolerance and did not exhibit any drug-related adverse events.

 

 

Recognized by the FDA as an excellent model for toxicology, small breeds of miniature domestic pigs known as minipigs share strong similarities with humans in crucial aspects such as drug metabolism, skin structure, genetics, and physiological mechanisms. In this preliminary safety study, minipigs received a single subcutaneous injection of LPT-CBD and were closely monitored for pharmacokinetics and basic safety parameters over one month. Encouragingly, the animals all exhibited good drug tolerance and did not manifest any drug-related adverse reactions.

“We are thrilled with these findings, which further underpin the safety profile of LPT-CBD following a single injection,” commented Dr. Eyal Kalo, the R&D Director of Innocan Pharma. “With each new data point collected for LPT-CBD, we make significant strides in our quest to revolutionize patient care through sustained-release therapy. Our efforts to continuously gather data to fully characterize LPT-CBD are paramount in our journey towards its ultimate approval.”

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Professor Chezy Barenholz the CSO of Innocan Pharma added, “These results are immensely gratifying and hold significant promise as they highlight the characteristics of LPT-CBD in a physiological setting similar to humans.”

The study involved administering three ascending doses of LPT-CBD via subcutaneous injection in minipigs, followed by comprehensive monitoring of pharmacokinetics and safety parameters for 28 days. Throughout the study, the minipigs demonstrated excellent drug tolerance, as evidenced by blood clinical parameters whithin normal range, healthy appetite, and normal behavior. These findings are consistent with prior safety evaluations conducted with LPT-CBD on diverse animal models including goats and dogs, affirming the drug’s favorable tolerability profile following both single and repeated use.

Grant of Restricted Share Units                                                                                                 

The Company has granted an aggregate of 290,000 restricted share units (each, an “RSU“) to consultants. Each RSU entitles the recipient to receive one common share of the Company (a “Common Share“) on vesting. A total of 150,000 RSUs vest on May 30, 2024, and 140,000 RSUs vest on September 30, 2024. The RSUs and the underlying Common Shares are subject to a statutory hold period of four months and one day expiring on October 1, 2024.

Innocan also announces that it granted 2,380,000 stock options to employees and consultants to the Company. These options have a strike price of $0.28, with various vesting periods up to 12 months. All options expire on May 30, 2029.

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About Innocan Pharma:

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

Contact Information:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected] 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Caution Regarding Forward-Looking Information

Certain information set forth in this news release, including, without limitation, the Company’s plans for human trials of its LPT-CBD platform, 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 production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that 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: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of 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). 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. A comprehensive discussion of other risks that impact Innocan can be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

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.

Logo: https://mma.prnewswire.com/media/2046271/3968398/Innocan_Pharma_Corporation_Logo.jpg

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Cision View original content:https://www.prnewswire.co.uk/news-releases/innocan-pharma-announces-successful-preliminary-safety-evaluation-of-lpt-cbd-in-minipigs-302169232.html

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