Creso Pharma Limited (ASX:CPH) has achieved what it claims is a key technological milestone in the development and testing of oil free hemp plant-based gum arabicum lozenges.
Dr Miri Halperin Wernli, Co-Founder and CEO of Creso Pharma said the new technology, developed over the past nine months, allows hemp oil free production, bringing the full benefit of the natural hemp plant to the consumers.
The product also offers significant regulatory advantages in several countries. The formulation contains hemp compounds which are already approved for use in consumer products, providing the company with a path to market for food supplement products without the need for regulatory approval.
Creso Pharma is now moving quickly to use the technological breakthrough to extend the company’s successful cannaQIX product line.
We are proud of having successfully developed this innovative oil free hemp plant based technology,” Dr Wernli said.
“The new products contain hemp compounds which are already approved for use in consumer products.
“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.”
The new products use natural hemp plant and provide an “entourage effect” in which various compounds work together to strengthen the key benefits such as helping to manage stress and improving well-being.
Dr Gian Trepp, R&D/Commercial Director of Creso Pharma said the company 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.
“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,” Dr Trepp added.