09:22 AM EST, 12/02/2024 (MT Newswires) -- Avicanna Inc. ( AVCNF ) , a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, on Monday said it completed the cosmetic registration and first delivery of its proprietary topical products into Germany as part of an exclusive supply agreement that was previously announced with a multinational pharmaceutical company.

The company's products include a 3% CBD localized cream, and a 2% CBD, and 0.5% CBG transdermal gel.

The multinational pharmaceutical company is set to launch Avicanna's ( AVCNF ) initial products in six European countries during 2025. It expects a further expansion throughout the European region shortly after the launch.

The company also said it earned licensing fees for specific milestones met in 2024. For the multinational pharmaceutical company to maintain exclusivity, Avicanna ( AVCNF ) said the parties agreed to specific minimum order quantities and commercial milestones.

Avicanna ( AVCNF ) was up $0.045 or 14.5% to $0.335 last Friday.