PREVECEUTICAL ANNOUNCES LAUNCH OF CANNABIS DIVISION
Preveceutical Medical Inc. (PREV.C) has launched a medicinal cannabis division.
The Cannabis Division will be responsible for bringing an array of high-quality, medicinal cannabis-based products to market, and overseeing the company's nasal delivery sol-gel research program and the resultant formulations. Through the sale of these products, PreveCeutical aims to help consumers address a number of ailments including chronic pain, epilepsy, anxiety disorders, and more. Products under the Cannabis Division will vary from transdermal patches and topical creams to capsules and other methods of administering the medicinal cannabis.
According to Statista, the expanding worldwide cannabis market is estimated to be US $63.5 billion by 2024. The Cannabis Division will further the Company's aim to become a leader in preventative healthcare by developing and bringing high quality, tailored medicinal cannabis-based products to this expanding global market.
Mr. Stephen Van Deventer, the Company's Chairman, CEO and President, stated, "The opening of the Cannabis Division at this crucial moment is very exciting, and continues to move the Company in an important direction. With Canada's upcoming legalization of recreational cannabis on October 17, 2018, and the reduction of stigma surrounding cannabis products, PreveCeutical sees a potential void in the medicinal cannabis sector as many companies begin to move to recreational market to accommodate demand. This market shift will provide PreveCeutical with the opportunity to focus on the healthcare sector and supply the increasing demand for effective and tailored cannabis-based therapies."
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products.
PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for type 2 diabetes and obesity; a Sol-gel drug delivery program; Nature Identical&#8482; peptides for treatment of various ailments; non-addictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury).
PreveCeutical sells CELLB9trademark, an Immune System Booster. CELLB9trademark is an oral solution containing polarized and potentiated essential minerals extracted from a novel peptide obtained from Caribbean Blue Scorpion venom. This product is available on the Company's website.