The cannabis industry is receiving a massive push with the help of changes to state laws and studies that uncover the secrets of the naturally occurring beneficial compound, cannabidiol (CBD). Research firms are putting the compound into the limelight of their studies, and this could help support both industries in the long run as there will be more reasons for agencies to reconsider their stand on cannabis.
Norfolk-based Sanyal Biotechnology acquired licensing to import CBD for research and clinical trials last May after receiving encouragement from Ontario-based Revive Therapeutics. With the license secure, the company is planning to uncover CBD’s potential in curing obesity and non-alcoholic steatohepatities (NASH), which is a serious case of non-alcoholic fatty liver disease.
Sanyal CEO Rebecca Caffrey says that they never expected to become a part of the industry. She adds that the licensing process with the Virginia Board of Pharmacy and the U.S. Drug Enforcement Agency took a year. It was almost impossible to get a license, she adds, so they opted to get the broadest license available instead.
The final key to unlock cannabis’ potential
The industry needs more studies to back the claims made by many regarding the compound’s benefits. Although it is a far cry from marijuana, CBD is still widely regarded as a controlled substance. In fact, the U.S. Drug Enforcement Administration only recently reclassified the drug into a Schedule 5 substance.
Uncovering the secrets of CBD is also the key to realizing its full potential. There are many individuals who could use the compound in their lives. For instance, athletes can use the compound to relieve themselves of pain. There are also claims that CBD can be used to treat PTSD in veterans.
Another leader in the research and development of CBD
The good thing is that more companies are being drawn into the research and development of CBD. PotNetwork Holdings, Inc. (OTCMKTS:POTN) has been in the industry long enough to know what the general audience wants, and it uses this knowledge to achieve milestones through its subsidiary and distributor, Diamond CBD, Inc.
To meet the demand for quality CBD products, POTN employs the aid of industry professionals and medical experts. This results in amazing products extracted from premium-quality hemp through supercritical CO2 extraction. As it moves forward with its research and development of CBD, POTN will be able to further increase its already expansive line of CBD products.
Diamond CBD’s products are a top choice among consumers. During the World Vapor Expo Industry Showcase at Mana Wynwood in Miami, Florida, the brand was able to draw the attention of countless vape enthusiasts. Part of the company’s product line is vape additives so their presence at the event was well-received since there is also a strong demand for CBD in Florida.
The CBD industry is becoming a success partially because of the companies that dive deep into the potential compound offers. The success of these companies’ research can result in a better understanding of the compound and this is direly needed as other major agencies are to reconsider their view on marijuana.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
Drastic Devaluation: Raisin Loses Unicorn Status
Raisin had, after all, merged with its Hamburg-based rival Deposit Solutions ("Zinspilot") last summer. Strictly speaking, the roughly $741-$953 million...
Spanish Pharma Companies Increased 23% their Profit in Q1
Rovi's increase was mainly driven by the strength of the third-party manufacturing business, which grew by 167%. Farma posted a...
Spain Scores Better than its European Neighbors in ESG
Despite being a universe of rising assets, the war in Ukraine and the withdrawal of stimulus by central banks has...
Tourism Revenues in Morocco Started to Increase
Tourism revenues amounted to $960,000 (9.7 MMDH) at the end of March 2022 after the context of tourism recovery. Prior...
Tenuta Liliana Vineyard Opens Up to Popular Shareholding on CrowdFundMe
The newly built winery of Tenuta Liliana was created inside a former tuff quarry, reclaimed and completely regenerated, and houses...
Cannabis2 weeks ago
Why the Cannabis Market Has Growing Investment Prospects
Featured2 weeks ago
First German Fintech Companies Rely on Foreign License
Africa2 weeks ago
SDL Aménagement Expands its Project Portfolio in Agadir
Biotech2 weeks ago
Besins Healthcare Enters the Spanish Market and Invests 25M in a Plant