PureForm Global Will Leverage ProSolus’s Proprietary Patch Technology
and Manufacturing Capabilities
Los Angeles, CA, and Miami, FL, August 28, 2020 – PureForm Global, Inc. (PureForm) and ProSolus, Inc. (ProSolus) announced today they have entered into a 5-year collaboration agreement to bring unique, high-quality therapeutic patch technologies to the CBD market at affordable price points. Initial offerings will include Lidocaine + CBD, Melatonin + CBD, Melatonin and Lavender + CBD, and CBD-only patches.
Under this agreement, the companies will combine expertise to develop and deliver products in the sleep, pain relief, relaxation, and athletic categories for white label customers. These products are expected to be offered online later this year and in pharmacies and convenience stores in 2021. “We are excited to be partnering with ProSolus, its experienced transdermal team, and state-of-the-art research and manufacturing facility. Together, we intend to provide the highest quality, affordable patches and kinesiology tape on the market. Consumers want products that they can buy with confidence. ProSolus is an ideal partner to help us continue to expand the consumer confidence that comes with having PureForm CBD™ inside,” said Steve Miller, COO of PureForm.
Given the need to provide sustained and local delivery of beneficial ingredients, patches have become very popular in recent years. Unfortunately, the CBD industry is rife with products with misleading labeling and dangerous impurities. In addition, many patches on the market release very little of the ingredients they contain. ProSolus’s proprietary technology releases ingredients much more efficiently than those it has tested from other popular CBD brands. It has also applied its technology to kinesiology tape, a product that PureForm and ProSolus expect to be offering later this year. Juan Mantelle, ProSolus’s Chief Operating Officer and Chief Scientific Officer says “our mission over many years has been to provide and improve our delivery systems, and they perform well for our customers. In partnering with PureForm, we now have the confidence that the CBD in them will be consistent, pure, and always free from THC. This will be a critical differentiator for athletes, first responders, military, truck drivers, and other customers who just can’t take the risk of putting THC into their systems.”
In a recent study performed with the help of LabCorp, an independent third-party clinical laboratory testing facility, volunteers underwent a drug screening test after using a topical product containing PureForm’s nature-identical, synthetic CBD for a period of at least one week. None of the volunteers tested positive for THC in LabCorp’s standard test commonly administered in pre-employment and employee drug screening programs.
The two companies have signed their agreement to start work immediately on joint product development and sales efforts. Both companies aim to offer these products as white-label solutions for their customers.
About ProSolus, Inc.
ProSolus, Inc is a wholly owned subsidiary of Canoa Inc and is based in Miami, Florida. ProSolus was founded by a team of seasoned pharmaceutical executives focused on leadership in the formulation, development, and manufacture of Transdermal Delivery Systems. Our collaborative approach with commercial marketing partners helps ensure robust business alliances. For more information on ProSolus, please visit www.prosoluspharma.com
About PureForm Global, Inc.
Headquartered in Los Angeles, California, PureForm is a biotechnology company focused on the research, development, and commercialization of synthesized CBD and other cannabinoids. The company’s synthetic cannabinoids are 100% chemically identical to their plant-based counterparts and are manufactured using a proprietary process that produces pure, consistent and stable compounds free from THC, pesticides, and impurities. PureForm produces CBD at commercial scale in cGMP and FDA compliant facilities in the US and UK. It was founded in 2016 with a commitment to bringing pure, consistent, cannabinoids to market economically and at commercial scale in service to the world’s most quality-conscious brands. To learn more about PureForm CBD™ or our other initiatives, please visit www.pureformglobal.com
Certain statements in this announcement are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
Chanel Perez, Brand Director & Product Manager