Thursday July 12, 2018 0 comments
DENVER -- NanoSphere Health Sciences, INC (CSE: NSHS) (OTC: NSHSF) announced it is experiencing a period of rapid growth for its cannabis brand, Evolve Formulas.
The company said it has not only successfully expanded the product line to more than 200 dispensaries in the Colorado market, but has also officially begun training and preparation for production in the California market.
NanoSphere said the accelerated growth is due to Evolve Formulas' pioneering product, Transdermal NanoSerum, a viscous gel applied to the skin for rapid and effective relief from pain, inflammation and anxiety.
The rate of growth has been shown to be roughly 30% month-over-month in demand for NanoSerum, allowing NanoSphere Health Sciences to discuss significant sales revenues for the first time since becoming publicly listed in December 2017.
Evolve Formulas products utilize the patented NanoSphere Delivery System to nanoencapsulate cannabinoids in lipid membranes for transportation through the skin and mucosa into the cells and bloodstream.
The technology eliminates delayed onset of action, vastly increases bioavailability of the ingredients and alleviates adverse side effects of cannabis, the company said.
The NanoSphere Health Sciences business model is centered on licensing IP to allow the expansion of Evolve Formulas into new legal markets.
Having recently announced a licensing partnership with Vertical, the largest fully-integrated company in the U.S. cannabis market for multiple states, NanoSphere Health Sciences has now initiated partner training in California for the production of its products and unique technology and has started transporting essential equipment to new manufacturing sites.
"We are now in roughly one of every four stores in Colorado -- an impressive rate of penetration into a highly competitive market,” said David Sutton, NanoSphere president and COO.
“This, coupled with countless powerful testimonials we have received from Evolve Formulas customers -- who rely on our products to relieve everything from chronic pain to PTSD -- demonstrates our company's superior offerings.
“We are also excited to be officially in the first stage of our California journey by commencing production in this new market, so that we can bring the benefits of cannabis to even more consumers in a safer, more effective way.”