Leader in development and sale of enabling pressure-based instruments to biotechnology, Pressure Biosciences Inc (OTCMKTS:PBIO) on 13th July announced processing hemp-derived cannabidiolwith Ultra Shear Technology platform for producing high quality water-soluble nanoemulsions of CBD oil in water.
The firm highlighted breakthrough results producing consistent and fine nano-dispersions entailed for achieving product stability for more than 12 months, in different temperature conditions. CBD, a non-psychoactive, oil-soluble compound is extracted from cannabis plant and offers myriad health benefits including anxiety relief as well as stress relief besides lowering seizures, muscle and joint pain.
ProVerde Laboratories is an advanced analytical testing lab in the country providing cannabis-derived materials.
Dr. Christopher Hudalla, President and Chief Scientific Officer of ProVerde Labs opined that hundreds of products are tested consistently and the new technology platform can produce the necessary ultra-low droplet size nanoemulsionsneeded for higher shelf life will be important inflection point for amazing growth opportunity in the industry.
Founder and President of Canopy CBD Farms John Westlake confirmed on scientific data supporting need for hemp-derived CBD oil for achieving best levels of absorptionand product cost efficiency for consumers and manufacturers. Westlake said that the results are very impressive and it is the first time in cannabis market that an accomplishment of this type has been done.
Gary B. Smejkal, Senior Research Scientist at PBI, said that this breakthrough delivers best quality of long-term stable CBD nanoemulsionsglobally. John B. Hollister, Director of Sales and Marketing at PBI, said that this has the potential to transform the rapidly growing cannabis market in multiple areas. It is estimated that a CAGR from 2021 to 2028 will be 21.2%, growing from USD $2.8B in 2020 to USD $13B in 2028.
Market Reaction:
As of 12:52, PBIO stock jumped 6.50% at $4.47 with more than 101k shares, compared to its average volume of 30k shares. The stock had moved within a range of $4.2000 – 4.7000 after opening the trade at $4.20. Over the past 52-week, the stock has been trading within a range of $1.2900 – 4.9800.
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