Partnership with Cascade Pure Brings Disruptive Evolve Formulas Technology to $550 Million Oregon Cannabis Market
DENVER--(BUSINESS WIRE)--NanoSphere Health Sciences Inc. (CSE:NSHS) (OTC:NSHSF) (“NanoSphere” or “the Company”) is pleased to announce the signing of a definitive Licensing Agreement with Oregon cannabis company Cascade Pure, LLC. The Agreement gives Cascade Pure the exclusive right to produce and distribute Evolve Formulas products in the State of Oregon.
NanoSphere Health Science’s cannabis line, Evolve Formulas, utilizes a patented method of nano-encapsulating cannabis molecules in a lipid membrane so they can be transported through the skin or mucosa to the bloodstream in minutes. Evolve products are currently available in dispensaries across Colorado and are coming soon in California, Arizona, Oklahoma, Canada and Mexico.
“Our Company’s strategy is to partner with cannabis producers who are dedicated to an exceptionally high, pharmaceutical-grade standard of production,” said NanoSphere CEO Robert Sutton. “Cascade Pure is a perfect fit for us, as they are building a state-of-the-art facility, and are very much a science-based company developing science-based solutions.”
The Cascade Pure facility is being completed in Bend, Oregon, and features a vertical farming system developed by Smart Grow Systems (www.smartgrow.systems). Cascade Pure is also acquiring the rights to a top quality genetics (seed) library, which Sutton says will help NanoSphere develop new cannabinoid product lines in future.
Cascade Pure CEO Edward Bonn says the NanoSphere agreement is a cornerstone of his company’s growth strategy in the Oregon market.
“There are a lot of producers generating an over-supply of cannabis in the Oregon market, which puts downward pressure on prices over the long term,” Bonn says. “NanoSphere’s Evolve Formulas patented products are fully developed, completely unique in the global market, and are very difficult for anyone else to reproduce. This gives us a huge advantage in the market and separates us from the crowd as the exclusive supplier of Evolve products.”
NanoSphere has developed three next generation nanoparticle delivery platforms. The first is a transdermal serum that can be applied to the skin to treat pain and inflammation in the joints and muscles and which does not have a psychoactive effect on the user.
The second is an intraoral product that allows cannabis to penetrate the mucosal membrane in the mouth for delivery directly to the bloodstream, providing much faster onset, precise dosing, and an effect closer to that of smoking or vaping.
The third is an intranasal spray that delivers cannabinoid nanoparticles, or ‘nanospheres’, directly to the brain via the transgeminal nerve. The Evolve spray provides virtually instant onset and very precise dosing for both medical and recreational use.
“There is no other way I know of to get the full entourage effect of cannabinoids and terpenes without smoking or vaping, but NanoSphere has solved that problem with a product that is unique in the market,” said Bonn. “This is a truly disruptive technology, and we will be the sole provider of that technology in Oregon.”
Under the agreement, Cascade Pure and NanoSphere will each receive 50 percent of the gross profit from the sale of Evolve Formulas products. The initial term of the agreement is 36 months, and is automatically renewable barring a significant breach of the Agreement by either party.
NanoSphere Health Sciences LLC, is a biotechnology firm specializing in the creation of the NanoSphere Delivery System™, a revolutionary platform using nanotechnology in the bio delivery of supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond. For more information on NanoSphere, please visit http://www.nanospherehealth.com.
About Evolve Formulas
Evolve Formulas is the provider of the world's first and only scientifically proven nanoparticle delivery system in cannabis. Evolve’s pioneering product, Transdermal NanoSerum™, is a fast acting, ultra-strength transdermal formula infused with nano-encapsulated cannabis and cannabis extracts. For more information on Evolve Formulas, visit https://www.evolveformulas.com/. Follow us on Facebook, Instagram and Twitter.
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Forward Looking Statement Caution
This news release includes forward-looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Without limitation, these include assumptions, risks and uncertainties inherent in completing sub-licensing arrangements in the United States, Canada and abroad, product demand, production, competition and government regulation of the Cannabis industry, any and all of which may have an adverse effect on the Company’s expansion plans, sales, revenues and its financial results and condition. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements, whether as a result of new information, future events or otherwise.