Creso Pharma Limited (ASX:CPH), the ASX-listed, Swiss-based innovative medical cannabis product developer, has started 2020 strongly as it aims to bring the best of cannabis to better the lives of people and animals.
Creso develops cannabis and hemp-derived therapeutic, nutraceutical, and lifestyle products with a wide patient and consumer reach for human and animal health. It has worldwide rights for a number of unique and proprietary innovative delivery technologies which enhance the bioavailability and absorption of cannabinoids.
This week, the company achieved a key technological milestone, developing its first water-soluble micro granulated hemp plant granules product as an expansion of its cannaQIX® human health product line.
The news comes directly after the company announced it had sold over 2.5 million cannaQIX® lozenges (the equivalent of 100,000 pack sold) since the human health product’s launch in April 2018.
Today’s announcement marks a further milestone in the growth of Creso’s human health product line.
The new technology has been developed over the past nine months in conjunction with Switzerland’s Domaco Pharma and allows hemp oil-free manufacturing of cannaQIX® hemp plant-based gum arabicum lozenges, Creso Pharma’s hemp and vitamin-based food supplement.
This development is significant for several reasons.
Firstly, the technological breakthrough will be used to extend Creso’s successful cannaQIX® product line.
Secondly, the new technology allows hemp oil-free production, bringing the full benefit of the natural hemp plant to the consumers.
Furthermore, the product offers significant regulatory advantages in several countries. Importantly, the formulation contains hemp compounds that are already approved for use in consumer products, providing Creso with a path to market for food supplement products without the need for regulatory approval.
“With the achievement of this innovation of the oil-free hemp-based technology Creso successfully addresses the regulatory and market access challenges enabling us to enter additional markets on a global basis,” said Dr. Gian Trepp, Creso’s R&D/Commercial Director.
As with most Creso products, this new product helps to manage stress and improves well-being in its consumers and comes at a time when there is a growing desire globally for alternative natural stress and pain management products.
The product opens up a range of new territories for Creso.
“The new products contain various hemp compounds which are already approved for use in consumer products,” said Dr. Miri Halperin Wernli, Co-Founder, and CEO of Creso Pharma.
“Importantly, this means that we have an additional path to market for our hemp-based food supplements without the need for regulatory approval, thus increasing our commercial options and expanding the potential territories we can sell the products in.”
Creso plans to distribute the new products globally with different commercial partners in several countries and expects that the products will be ready for launch in Q3 2020.
