Thursday, February 21, 2019
NanoSphere Health Sciences Inc. 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.
