LOI signed in December 2018.
Avricore is actively developing its HealthTab platform to offer pharmacists an expanded range of metabolic and genetic tests which they can use to deliver cognitive services based on precision medicine to their customers.
Avricore is committed to establishing a footprint in the cannabis space at the pharmacy level.
The Molecular You test allows Avricore to position itself to deliver on both of these corporate objectives.
The HealthTab & Molecular You combination will give customers health information at their fingertips, and empower them to make the best possible health decisions. Avricore Health will be able to implement another, first of its kind, health management program in Canada that will allow customers and pharmacists to benchmark, track and easily access key health metrics, while helping cannabis users safely integrate cannabis use into their current health regimens.
This integration will provide customers unparalleled access to information on cannabis use with guidance from their pharmacists, who are a trusted and qualified source of medical information. They will be an indispensable resource in empowering new medical cannabis users to safely integrate cannabis into their more traditional prescription regimens.
Molecular You provides insight into how each individual's genetic differences can affect how they respond to the active ingredients in cannabis and potential adverse interactions with other drugs patients may be taking. The HealthTab platform is not only an ideal vehicle to deliver that offering to customers but also allows customers to monitor their key biomarkers at regular intervals to further ensure safe cannabis use.
Avricore’s goal in terms of revenue is to charge between $550 and $650 per test generating a net profit margin between 36% and 46%.
Avricore’s goal is to partner with a strategic LP in Canada to discuss patient acquisition and data opportunities.
Definitive agreement in progress and expected to be completed Q1 2019.