When investors think of cannabis brands, cosmetics may not be at the top of the list, but one beauty company is working to launch an official line of products in Canada.

Evio Beauty Group is set to introduce a three-product line of cannabis sativa seed oil infused cosmetics, including a revitalizing serum, a rejuvenating mask and a set of cleaning wipes.


The line of products, called Evio Skin, are being co-developed with Aurora Cannabis (NYSE:ACB,TSX:ACB) which goes to show the range of products licensed producers (LPs) will chase in a legalized market.

Brandi Leifso, founder and CEO of Evio, said all products sold through the Aurora partnership will carry a “certified standard stamp” to show consumers the product was grown as per the LP standards.

At first, the products will be sold online only through the Evio website, with a tentative launch date of April according to Leifso; by the end of the year, the cosmetic brand will seek distribution in retail stores.

The benefits of cannabis and its derivatives for cosmetics is a topic Leifso wants to explore further with specialized research on the effects of cannabidiol (CBD), tetrahydrocannabinol (THC) in addition to hemp and hemp-produced CBD.

“We haven’t seen a lot of that kind of research on the market yet but we’re really excited to be doing a lot of those clinical trials ourselves,” Leifso told the Investing News Network (INN).

The partnership between the beauty company and the LP was first announced last July as a strategic investment and collaboration.

“We’re excited to work with Brandi and the team at Evio Beauty to develop and launch this innovative new line of hemp seed and CBD-based cosmetic products to a large and growing audience worldwide,” Aurora CEO Terry Booth said at the time.

Leifso told INN her company was fielding partnership opportunities from a variety of LPs until Aurora made its case.

The LP secured the preference of Evio when its presentation included elements of women empowerment instead of pure dollar performance.

“We also are engaged with each other in different marketing aspects that will start to come too late to the consumer as in the spring of this year,” Leifso said.

Leifso touts the planned research from Evio with cannabis and derivatives to find more products, but when asked about specifically what are the expectations of the studies, she defuses by saying the research will lead to increased knowledge to create better products.

Investor takeaway

As the chase to expand the range of products cannabis will be able to disrupt continues, several companies in the public space will attempt to diversify their strategies and find niches to create value for investors.

Larger, well-capitalized LPs will also attempt to create a presence in spaces such as the cosmetics market.

When asked about the financial impact cannabis will have on cosmetics, Leifso is sure the plant will become an ingredient in the space rather than a sub-sector within cosmetics.

“It’s a hard number to put down but the way that [Aurora Cannabis will] report it, I’m quite certain, will probably be based on just what were the beauty sales that included those ingredients,” Leifso told INN.

According to Statista, the Canadian cosmetics market will reach US$15.78 billion in value by 2020.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Legal cannabis is spreading. According to a new report by Grand View Research, the global legal marijuana market is expected to reach US$73.6 billion by 2027 with a compound annual growth rate of 18.1 percent.

A survey of over 1,000 US consumers found that the modern cannabis user is largely representative of the general population. Moreover, cannabis consumption today blurs the lines between strictly recreational or medical. In fact, more than 50 percent of consumers report using cannabis for both purposes. As THC and CBD products make their way into an even wider array of product categories, our frame of reference for the modern cannabis user will continue to evolve.

In 2019, the medical cannabis market took home a leading revenue share of 71 percent, driven by the widespread adoption of cannabis as a pharmaceutical alternative for a wide range of conditions, including cancer, arthritis, Parkinson’s disease and more. A growing need for effective pain management therapies is expected to boost product demand even further.

This INNspired Article is brought to you by:

Khiron Life Sciences Corp. (TSXV:KHRN) is a vertically-integrated medical cannabis company fully licensed to conduct its core operations in Colombia.Send me an Investor Kit

Major telehealth platforms in the medical cannabis industry

Telehealth represents the intersection between innovative technology and the forefront of medical science. While remote medical practice saw its beginnings more than half a century ago, recent technological advancements have connected more patients to physicians than ever before.

In the US, platforms like NuggMD and IndicaMD provide patients with an online medical cannabis card that enables remote purchase of the drug. Patients can meet with physicians over secure video chat and can be approved to access cannabis within minutes. Physicians typically follow-up with patients by email, recommending the types of cannabis that would best alleviate their ailments and ensuring that they don’t purchase the wrong products. Other platforms exist to oversee the rapid delivery of cannabis and hemp products to patients across participating states.

Other parts of the world are undergoing the same transition. It has been more than eight years since Colombia — a country that represents more than a quarter of the world’s total export quotas — decriminalized the possession of small amounts of the drug, and roughly four years since the country legalized medical cannabis. In 2019, Colombia’s Constitutional Court overruled a ban on the public consumption of cannabis, which many considered a stepping stone toward full legalization. Recently, Colombia became one of the first countries in the world to extend national health insurance for patients requiring medical cannabis as a first-line therapy.

Khiron Life Sciences (TSXV:KHRN) was the first firm in Colombia authorized to sell both high and low THC formulations of medical cannabis. The company owns a telehealth platform that has accounted for over 5,600 medical cannabis prescriptions issued to date. Additionally, in June 2020 the company’s Doctor Zerenia telehealth platform was responsible for 14 percent of Khiron’s total medical consultations.

Since becoming the first company to fill medical cannabis prescriptions in Colombia, Khiron reports that 92 percent of its patients have experienced a marked improvement in their primary condition after four months of treatment. In light of these results, the Government of Colombia issued a directive that Khiron’s medical cannabis products and clinic services be covered by the country’s major health insurance providers. While countries such as Germany and the Czech Republic have taken similar legislative actions, a key difference in Colombia is that cannabis is considered a first line therapy with a vast array of applicable medical conditions. With more than 94 percent of Colombia’s population carrying health insurance policies, Colombia is quickly becoming one of the most favourable jurisdictions in the world for patient access; moreover, it has been shown that patient uptake is significantly increased by insurance coverage.

The next step forward for telehealth platforms includes opportunities such as virtual patient education and the fast, reliable delivery of essential drugs such as medical marijuana. Virtual care is also expected to expand across different types of patients, including those requiring intensive care. In the wake of the COVID-19 pandemic, many long-term care facilities have already adapted remote patient monitoring to maintain the safety of staff and patients.

The focus: Accessibility and improving patient outcomes

Medical marijuana has the power to improve patient outcomes across demographics. In the wake of groundbreaking research, patients, physicians and retailers are working together to increase the drug’s accessibility for patients who require relief from a range of health conditions. Telehealth platforms have been instrumental in not only increasing accessibility to medical marijuana, but also in improving quality of life across diverse populations of people.

A recent study completed by Canopy Growth (NASDAQ:CGC,TSX:WEED) in November 2020 found the absence of long-term toxicity despite long-term usage of CBD in a preclinical model, supporting the advancement of recent initiatives aimed at discovering CBD’s full range of therapeutic benefits. While CBD and tetrahydrocannabinol (THC) offer many of the same benefits, high levels of THC are responsible for most of cannabis’s psychoactive effects.

While the chronic pain segment dominated the medical cannabis market in 2019, application toward mental illness is expected to witness the fastest growth over the seven-year forecast period. Worldwide, a growing number of people suffer from depression, anxiety and other debilitating mental conditions with few low-risk pharmaceutical alternatives.

Medical cannabis is also becoming more popular among older adults. A recent study highlighted that cannabis use among individuals aged 65 and older has been steadily increasing, a trend that is consistent with reports from physicians who recommend cannabis in their daily practices. In the face of growing public acceptance and reduced stigma, we are beginning to see an increasing number of older adults rely on cannabis for relief against chronic pain, insomnia, neuropathy, anxiety and other conditions that traditionally call upon pharmaceuticals.

Much of the momentum in the medical cannabis market can be owed to the rise of telehealth platforms and health digitization efforts, increasing ease of access and promoting transparency. Over the next decade, legalization, increased awareness and the rise of remote medicine are expected to facilitate growth, creating lucrative opportunities for market stakeholders.

Takeaway

Telehealth platforms represent one of the easiest ways for patients, providers and retailers to collaborate remotely and fulfill needs faster. As more physicians and policymakers begin to recognize digital health tools as an advantage for maximizing efficiency and safety in health care, existing medical cannabis platforms are well-positioned to take advantage of a large-scale digital transition.

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An investment group led by Richard Goldstein retains 100% control of Cobra, and its senior secured debenture of Hydrx Farms Ltd. (“Hydrx”), acquired by Cobra in October 2020.

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Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”), an innovative global cannabinoid company, today announced that Kurt Schmidt, President and Chief Executive Officer, will speak at the 24th Annual CIBC Western Institutional Investor Conference on Friday, January 22, 2021 at 4:10 p.m. EST.

A recording will be available on the Investors section of the Company’s website at https://ir.thecronosgroup.com/events-presentations .

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