NEW YORK, May 27, 2020 /PRNewswire/ -- There have been several important developments in the psychedelics market in recent years that indicate a change in public sentiment around such products. For example, earlier this year, billionaires attending the World Economic Forum in Davos heard a pitch from a company developing a psychedelic drug to treat opioid addiction. In a report by Bloomberg from earlier this January, the Company Atai, backed by billionaire investor Peter Thiel, and partner DemeRx Inc., are preparing for a mid-stage trial of a synthetic form of the substance, called ibogaine, for treatment of drug addiction. Interest in such therapies is high as an opioid epidemic rages on in the U.S., the German firm's founder Christian Angermayer said in the Swiss ski resort. "In some circles, psychedelics are still associated with escape from the real world and irresponsible extravagance," Thiel said in an email according to the report. "With FDA-controlled studies, we will come to see that their most powerful use brings people to mental health and sober sanity in a medical setting." The substance, ibogaine, has already been used in some drug rehabilitation clinics to treat addiction. Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF), Amyris, Inc. (NASDAQ: AMRS), The Supreme Cannabis Company, Inc. (OTC: SPRWF), Trulieve Cannabis Corporation (OTC: TCNNF)
The path that psychedelics are taking to de-regulation is reminiscent to that of cannabis. Over the past several years, the cannabis industry has reached several milestones to almost completely redefine itself. Now, medical cannabis is predominantly being used to alleviate symptoms associated with afflictions such as chronic pain, cancer, and epilepsy. The positive data has even led many U.S. states to legalize medical cannabis. And as of 2019, there were 33 states and the District of Columbia that have already moved to legalize medical cannabis. An important moment for the industry happened when the U.S. passed the Farm Bill in 2018 which essentially federally legalized hemp-derived CBD products. Shortly afterward, many retailers began to stock CBD products on shelves as well as on their e-commerce platforms. And now, as the cannabis industry continues to expand, it is expected that technology will play a pivotal role in the development of the industry.
Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB) announced yesterday breaking news that, "it has officially appointed Dr. Aubrey Oliver ND, RBT to be its newest advisor. Dr. Oliver is a Jamaican registered Functional Holistic doctor and a graduate of Ashford University in Complementary and Alternative Medicine.
In recent years, Dr. Oliver was the Coordinating Physician with Caribbean Clinical Research Associates on the first clinical research of its kind which dealt with CBD oil, nano liposome, and alcohol-based forms to find out the absorbency efficacy on healthy cells. Additionally, Dr. Oliver is a certified bioenergetics therapist for cell regeneration and rejuvenation while activating the patient's own stem cells. He is a healing arts specialist with an interest in cannabis and phytonutrients and focuses on a holistic approach towards adrenal exhaustion and aging issues, oncology, infectious diseases and biotoxin illnesses, as well as blood sugar and blood pressure issues.
Damon Michaels, Co-founder of Mydecine and COO of NewLeaf, remarked, "We believe working with Dr. Oliver is going to help us expand the cutting edge of Mydecine in many ways. With Dr. Oliver's extensive knowledge for treating people with homeopathic medicine, developing research groups, and understanding unique route administration, we will be able to take the fungi formulations in development to a whole new level."
Dr. Oliver is a strong, well-known member of the Jamaican community and will be working with Mydecine to find ways for the Company to expand its efforts into the Caribbean nation.
Dr. Oliver remarked, 'I'm grateful and humbled to be announced as an advisor with Newleaf Brands. Over the years, I have been looking for the right vehicle to be able to make a powerful healing impact on my beloved island nation of Jamaica. When I understood the path that Newleaf Brands was going down to advance medicine in order to help many, it was a no brainer for me to join this innovative group. I am happy to now be a key asset to contribute to developing things like a treatment facility and setting up a program for patients and clinicians in our beautiful paradise.'
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Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF) announced recently that Governor Greg Abbott has signed into law Texas House Bill 1325 (the "Texas Hemp Legislation"), which effectively legalizes the cultivation of hemp and processing of hemp and hemp-derived products, including cannabidiol (CBD) in the State. As previously announced, in anticipation of the passage of the hemp legislation in Texas, Village Farms has begun conversion of half of its 1.3 million square foot, ultra-high-tech Permian Basin greenhouse (which utilizes the Company's proprietary GATES® technology) for cultivation of high-CBD hemp and CBD extraction. The Texas Hemp Legislation will require licenses for both the cultivation and processing of hemp and Village Farms plans to apply for the requisite licenses as soon as it is permitted to do so. No time frame has yet been provided by the State of Texas for the licensing process.
Amyris, Inc. (NASDAQ: AMRS), a global science and technology leader of pure, sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, announced back in March clinical data showcasing the superiority of its natural sugarcane squalane (marketed and sold as Neossance Squalane) as a carrier of CBD versus other oils. In order for CBD to be effective in topical applications, skin penetration is a key factor. Amyris sugarcane squalene improves the efficacy of CBD by 10-40X as the carrier oil chassis for the skin care market based on new data. Amyris is developing CBD through fermentation technology and believes it will be the first company to provide highly pure and efficacious CBD from this technology at commercial scale. The ability to provide both high quality CBD and the best performing carrier chassis will provide consumers with greater choice and product effectiveness. The company has filed a patent application covering the use of squalane to deliver cannabinoids, including CBD, to the skin to protect its distinctive advantage.
The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) announced last December, the launch of Sugarleaf by 7AC. Sugarleaf is Supreme Cannabis' newest introduction of high-quality cannabis experiences to the Canadian marketplace. Sugarleaf widens the Company's product offerings and targets consumers who demand a more refined, milder consumption experience as they discover their own cannabis taste preferences and desires. Sugarleaf products are created using the sugary-looking, trichome-dense, dry-cured sugar leaves from 7ACRES' coveted strains. Made with the high-end 7ACRES strains that consumers trust, Sugarleaf offers a consistently high-quality, smooth and flavourful taste, and aroma. Sugarleaf's first product will be rolled joints made with fan-favourite strains of 7ACRES. Additional product formats, focused on offering consumers elegant, ready-to-enjoy and convenient cannabis experiences, will be introduced to the market in the new year, including cannabis 2.0 products.
Trulieve Cannabis Corporation (OTCQX: TCNNF) announced earlier in April the launch of a new product, Blue River™ Rosin Cart, through the successful partnership with Blue River™. Blue River™ Rosin is a strain-specific, full-spectrum, solvent-less hash oil. The Blue River™ Rosin Cart offers patients a safe, convenient, and controlled way to vaporize in a strain-specific solventless manner. Using advanced mechanical separation techniques, Blue River™ can naturally preserve a higher concentration of full-spectrum cannabinoids and terpenes without the use of water, chemical solvents, or other additives. "Trulieve is excited to extend our partnership with Blue River, adding to their award-winning terpene extracts, THCa and other trademark branded products on Trulieve's shelves for Florida's growing patient base," said Trulieve's Chief Marketing Officer, Valda Coryat. "Blue River's Rosin Cart adds to our innovative focus, delivering more effective and enhanced experiences for our Truliever community."