Since the closing of its IPO and listing on the Canadian Securities Exchange in September 2019, InnoCan Pharma Corporation (CSE: INNO) continues to execute its advanced business model to enter the market with CBD from Industrial Hemp infused cosmetics and topical creams. The company is best known for its breakthrough technology in administering CBD treatments and they continue to obtain positive results in the advanced stages of testing. But they adhere to their strategy, which is to first capitalize on the emerging CBD market by introducing its patent pending topical formulations that synergistically combine industrial Hump CBD with proven ingredients. As the calendar year draws to a close, InnoCan Pharma is well positioned to launch its line of CBD infused cosmetics and topical creams into the EU and US markets during the first half of 2020.
This strategic approach was first discussed with the CIG community in October 2019 (You can read the article here.).
Recognizing the rapid growth of the CBD infused cosmetics industry, estimated to be worth $588 million worldwide in 2018, the InnoCan team felt it was the right time to enter this lucrative and rapidly growing market.
Building the Foundation
With the IPO and CSE listing behind her, CEO Iris Bincovich needed to secure quality manufacturers in both the EU and the USA capable of reproducing the precise and often complex formulations developed by the InnoCan R&D team. In addition, these companies would need to meet all regulation requirements and the demanding conditions for consistency and high quality the InnoCan team expected.
On November 5th InnoCan announced it had signed an agreement with Fancystage Unipessoal LDA of Portugal (Fancystage) to manufacture its line of CBD infused cosmetics for the European market. Fancystage specializes in private label cosmetic manufacturing for international brands, producing high-quality cosmetic products according to the cosmetics Good Manufacturing Practices (GMP).
Less than two weeks later, on November 18th InnoCan signed a second manufacturing agreement with Biogenesis Inc. (Biogenesis) of NJ, USA to manufacture its CBD infused cosmetics and topical creams for the US market. In a telephone interview Iris Bincovich indicated she has worked with Biogenesis in the past and is looking forward to working with them again.
“We have now reached our final milestone to prepare for full retail commercialization of InnoCan products in 2020. Our intention was for InnoCan to enter the world’s largest CBD cosmetic and OTC topical markets and this agreement, along with our recent manufacturing agreement in the EU, ensures InnoCan will be well positioned to profit in the rapidly growing consumer market for CBD enhanced products.”
Both manufacturers specialize in private labels and will manufacture the products to the exacting standards of InnoCan using CBD derived from Hemp. Manufacturing is expected to begin in the USA as early as March 2020. Initially small lot sizes will be rolled out in order to build a US domestic distributor and consumer presence. InnoCan is currently seeking distributors for Europe and the USA.
Developing Products with Excellence in Mind
Research and Development is at the heart of everything InnoCan Pharma does, so it should be no surprise to learn their Dermatology R&D department is led by Nir Avram, a well-known and respected senior pharmaceutical scientist with more than 30 years’ experience. Mr. Avram has developed an extensive line of high-quality products throughout his career and holds several patents.
This member of InnoCan Pharma’s management team consults in diverse areas of expertise including pharmaceutical and cosmetic innovations, generic formulations and synthesis of novel materials, to start-ups as well as established companies. He is also vice president of research & development at Emilia Cosmetics Israel and Emilia Resources in the US. Prior to this he was VP of R&D at Careline, a leading cosmetics and toiletries manufacturer, and a member of the pharmaceutical innovation team at Perigo. Previously he served as chief chemist at Zohar Dalia.
His drive for innovation and quality is abundantly evident in the first product offerings he and his R&D team at InnoCan Pharma have developed. Each product has been meticulously crafted resulting in the synergistic balance of each ingredient.
Luxurious Cosmetics and Effective Topicals
The cosmetics line focuses on dermatological treatment for a radiant complexion. The extensive offering of premium quality products is divided into three categories:
- CBD+ which contains a triple dose of CBD formulated to combat signs of aging and enhance the skin’s natural radiance.
- CBD MUST is formulated with a highly effective CBD designed to nourish the skin for a natural glow.
- CBD SHINE is a complete CBD infused hair care product line formulated to deliver maximum moisture retention for healthier hair and scalp.
The topical creams will be available OTC and some of them include a patent pending formulation for muscle pain relief as well as an enhanced formula for treatment of psoriasis symptoms and an anti-itching spray. For pain relief, InnoCan offers consumers regular and extra-strength formulations available in cream, spray and roll-on.
All cosmetic and OTC products are made with CBD derived from Hemp to ensure compliance with US FDA regulations and EU member states.
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Author Disclosure: I have no positions in any other stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Cannabis Investment Group). I have no business relationship with any company whose stock is mentioned in this article.
CIG Disclosure: InnoCan Pharma is a client of CIG.