- Agreement with Mr. Checkout will significantly strengthen the company’s product distribution network
- Human trials launched evaluating CBD-based therapy for opioid addiction
- Application made to uplist to OTCQB in early 2018, attracting more investment
The worldwide cannabidiol (CBD) oil market, which includes products derived from both marijuana and hemp, is projected to grow at a CAGR of more than 39 percent through 2021. The health benefits of CBD oil are the major driver for growth in this market, with global demand steadily on the rise in recent years. Hemp-based CBD oil products in particular are more popular, as they have a lower concentration of psychoactive compound tetrahydrocannabinol (THC) than those derived from marijuana, therefore not requiring a medical prescription (http://cnw.fm/kaL9i). Earth Science Tech, Inc. (OTC: ETST) is one of the companies that is focused on the development of hemp-based CBD products and has taken a number of steps recently to enlarge its presence in this market sector.
Following a revamp of its CBD product line, Earth Science Tech announced on February 13, 2018, that it had concluded an agreement with Mr. Checkout for the distribution of its products via major retailers and stores across the United States. This agreement will strengthen the company’s distribution network, which currently has 10 active representatives targeting distribution to health food stores and clinics. Mr. Checkout is a national group of independent distributors of products to over 60 major retailers and 55,000 stores. It will market ETST’s product line to major retailers such as Walmart, Walgreens and Target.
Earth Science Tech is a biotechnology company focused on the research and development of hemp-based CBD products for the pharmaceutical and nutraceutical industries. It also has a focus on the development of diagnostic tools and medical devices. On February 28, 2018, the company announced that it had finalized plans to conduct human trials on its new CBD-based formulation that targets opioid addiction (http://cnw.fm/rNnQ0). These trials will assess the efficacy of the combination of hemp-based CBD oil with an essential mineral element. Currently, the sole therapy for this condition is a monotherapy based on an essential mineral element. ETST’s formulation is expected to increase the potency and improve the outcome of this therapy.
The company operates through three wholly owned subsidiaries:
- Cannabis Therapeutics, Inc. which develops leading edge, cannabinoid-based products for the pharmaceutical and nutraceutical sectors;
- KannaBidioiD which is focused more on developing products for the recreational use of cannabis, including edibles, vapes and eLiquids;
- Earth Science Pharma, Inc., which develops medical devices and low-cost, noninvasive diagnostic tools, as well as testing processes and vaccines for sexually transmitted diseases.
Cannabis Therapeutics is in the development stage of two CBD-based pharmaceutical drugs and three CBD-based nutraceutical products. These will target a variety of ailments, including depression, anxiety, breast cancer and fatty liver disease. In October 2017, Earth Science Tech announced a collaboration with Clinique SIDA Amité to conduct a mini-trial on its MSN-2 device for the detection of Chlamydia. ETST has also acquired Canna Inno Laboratories Inc., based in Montreal, Canada, which will give the company the opportunity to expand into Canada and gain access to local government grants for pharmaceutical industry innovation.
Earth Science Tech expects to uplist to the OTCQB Venture Exchange in early 2018, which it believes will attract well-funded institutional investors. These recent developments are likely to increase company growth and enlarge Earth Science Tech’s presence in the cannabis industry.
For more information, visit the company’s website at www.EarthScienceTech.com
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