NEW YORK, March 25, 2021 /PRNewswire/ — The CBD market is estimated to hit the $23.7 billion mark by 2023, with the US likely to be one of the more lucrative markets for hemp-derived CBD products, with almost all states having legalized hemp-derived CBD. Research institutions are also looking into the effects that hemp-derived CBD has on the body. There is a lot of promise within the medical community. Such research may open up more revenue opportunities if companies are able to make science-backed structure function claims about the benefits of CBD derived from hemp. Clinical research and studies are also key to informing the FDA’s regulatory framework by providing reliable expert data regarding the functioning and effects of hemp-derived CBD products. Companies such as HempFusion Wellness Inc. (TSX:CBD.U) (OTCPK:CBDHF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), Aphria (NASDAQ:APHA) (TSX:APHA), Tilray Inc. (NASDAQ:TLRY), and Neptune Wellness Solutions (TSX:NEPT) (NASDAQ:NEPT) are set to benefit from the growing body of research in CBD products and the increasing acceptance in the population.
HempFusion Chosen as the Exclusive Supplier of Hemp-Derived CBD for Clinical Trial
HempFusion Wellness Inc. (TSX:CBD.U) (OTC:CBDHF), a health and wellness CBD company, announced that Dr. David Harnick, a prominent Cardiologist and Assistant Professor of Medicine and Cardiology at Mount Sinai Medical Hospital in New York, has chosen the company to be the exclusive provider of products to be used in a six-month clinical trial. The clinical trial consists of two studies conducted by Dr. Harnick.
According to Dr. Harnick, “Studying the potential effects that CBD may have on cardiology markets may potentially unlock some of the scientific mysteries that exist today. We know that there is evidence that CBD may have beneficial effects on the body, but the exact scope of those effects remains to be determined. There have been no published randomized prospective controlled trials evaluating the effects of CBD on these cardiac markets, so this research may prove to be groundbreaking.” The study is expected to commence in March 2021 and it will be one-of-a-kind in the area of the effects of CBD on targeted cardiology markers.
Dr. Harnick chose HempFusion for its rigorous regulatory standards, toxicology studies for safety, and adherence to quality control. Dr. Harnick constructed this long-term clinical trial to gather data that will help in the deeper understanding of the effects CBD has on the body.
HempFusion, partnered with ValidCare as a co-sponsor alongside 12 other companies in the CBD space, collaborated in an industry-wide Human Observational liver and male reproductive toxicology studies, which explore the effects that full-spectrum hemp-derived CBD has on the liver.
“This is the second clinical trial HempFusion is proudly participating in,” HempFusion Wellness CEO Jason Mitchel, N.D. said. “We are committed to furthering research in the area of hemp-derived CBD and this study [with Dr. Harnick] is a significant expansion of our efforts that reinforces our continued focus on the safe and effective use of hemp-derived CBD products,” he added. The CBD used in these trials is the same product the company offers to the public.
CBD Companies in Support of CBD Clinical Trials
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) announced a joint clinical trial with mixed martial arts organization UFC to identify the effects of hemp-derived CBD on certain treatments for MMA athletics, with a special focus on inflammation, pain, wound healing, and athletic recovery. The trial results will form a basis for the creation of a line of hemp-derived CBD topical treatments for elite athletes under the sports brand ROAR Sports. Aurora CEO Terry Booth said, “We are going to work together to change the way people think, to change the industry, and to launch the first hemp-derived CBD products that are backed by scientific research.”
Aphria (NASDAQ:APHA) (TSX:APHA) has also participated in clinical trials with research partners in the medical field, including MedLab and Tetra Bio-Pharma. Both MedLab and Tetra Bio-Pharma have conducted clinical trials using CBD products from Aphria based on agreements it has with these companies. Aphria’s participation in clinical research is part of the vision to advance the use of medical CBD for patients in need by providing high-quality, safe, and pure products.
Tilray Inc. (NASDAQ:TLRY), a global leader in cannabis research, cultivation, production, and distribution, announced that it received approvals from the Ministry of Health in New Zealand to launch its medical products across the country. These approvals allow Tilray to legally export medical marijuana from its GMP-certified Canada-based facility. “As medical cannabis regulations continue to progress around the world, we are incredibly honored to be recognized as a trusted partner in offering the highest-quality medical cannabis products,” said Brendan Kennedy, Tilray’s CEO. In addition to supplying medical cannabis to hospitals and pharmacies in Australia and New Zealand, Tilray partners with research institutions such as The Government of New South Wales and University of Sidney Chris O’Brien Lifehouse.
Neptune Wellness Solutions (TSX:NEPT) (NASDAQ:NEPT) is also keen to capitalize on the growing CBD extracts markets. The company, which recently transitioned into the CBD extraction field, has partnered with other companies in the industry, including with Tilray Inc. Neptune Wellness Inc. has a strong position in the cannabis sectors, with its focus on research, development, and commercialization of cannabinoids to make them more effective, safer, and healthier.
The cannabis industry is expected to continue expanding as companies focus on education, physician use, and customer uptake through clinical trials and research. Companies such as HempFusion Wellness Inc. are taking strides in developing high-quality hemp-derived CBD extracts and are standing out to scientists as ideal products for clinical trials.
For more information about HempFusion Wellness Inc., click here.
Disclaimer: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Bragg Gaming Group
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.
FN Media Group, LLC