Creso Pharma to launch cannabis-based nutraceutical product
Creso Pharma Ltd (ASX:CPH) has partnered with Swiss pharmaceutical firm, Streuli Pharma, to commercialise its first human nutraceutical product, INNutri Soft Gums in the Swiss market.
Creso’s strategy is to develop and commercialise pharmaceutical-grade cannabis and hemp-based products for the nutraceutical (food supplement) market.
INNutri Soft Gums use an innovative and proprietary delivery technology allowing for an optimum delivery of cannabis and hemp derived therapeutic products.
The cannabis is delivered through buccal (mouth) absorption and the soft gums have several advantages over existing health supplement products.
Importantly, Creso will have access to the distribution network of Streuli Pharma, which currently manufacture over 150 million tablets and capsules per annum.
Creso started trading on the ASX last week, following a successful initial public offering (IPO) that raised $5 million.
The IPO was significantly oversubscribed and puts the company in a strong financial position to further develop its pharmaceutical-grade cannabis and hemp-based product range.
The global nutraceutical market is expected to reach US$205 billion by 2017 from a market size of US$142 billion in 2011.
Meanwhile, the nutraceutical ingredient market is forecast to reach US$34 billion by 2018.
Creso intends to pursue commercialisation partnerships for the sale of the INNutri Soft Gums across other areas of Europe including the Benelux countries, Italy and Spain, as well as globally – Canada, Latin America and the Gulf States.