NanoSphere Health Sciences Inc. Increases Capacity at Key Colorado Production Facility
Demand for the Company's Groundbreaking Transdermal Evolve NanoSerum™ Driving Production
DENVER, Feb. 5, 2018 /PRNewswire/ -- NanoSphere Health Sciences Inc. (CSE: NSHS, "NanoSphere") is pleased to announce that, in response to growing demand for the NanoSphere's Evolve NanoSerum™ product, its Colorado license partner has increased production capacity at its facility.
"NanoSerum is a state-of-the-art formulation that carries a full spectrum of cannabinoids and phytochemicals with precision-metered dosing, every time," said Dr. Richard Kaufman, NanoSphere's Chief Science Officer. "This development is an extremely encouraging sign of market demand for new methods for cannabinoid delivery."
"This is a watershed moment for our business," added David Sutton, NanoSphere's Chief Operating Officer and President. "Our partner achieved the capacity increase by switching to an ethanol distillation process whereby the facility can process 30,000 units per month."
NanoSphere is commercializing its disruptive, next-generation nanoparticle cannabis delivery system platforms under the brand Evolve Formulas. In July 2017, Evolve Formulas launched its acclaimed NanoSerum product, the first clinically tested transdermal cannabis product to relieve pain in minutes, for the adult use and medical cannabis markets in Colorado.
"As our company gains recognition in the market place, more and more customers are discovering and embracing our necessary delivery technology," NanoSphere Chairman and CEO Robert Sutton added. "The re-order rate of our Evolve NanoSerum product is testament to its quality and effectiveness."
Evolve products are available in more than 70 accounts and are expected to be in over 250 accounts by year end throughout Colorado. Additionally, NanoSphere will be expanding to qualified manufacturers and operators in several states to license our delivery technology and bring the Evolve brand to new U.S. and Canadian markets, as well as, build on that success by further introducing new product applications. Each product application will deliver a unique pharmacokinetic and pharmacodynamic profile of cannabinoid activity and therapeutic applications.
NanoSphere Health Sciences LLC, a wholly owned operating subsidiary of the Company, is a biotechnology firm specializing in the creation of the NanoSphere Delivery System™, a revolutionary platform using nanotechnology in the biodelivery of supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond. The patent-pending NanoSphere Delivery System™ represents one of the most important developments for advancing the non-invasive and user-friendly delivery of biological agents in over 25 years. For more information on NanoSphere, please visit http://www.nanospherehealth.com.
On behalf of the Board:
Robert Sutton, Chairman & CEO
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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. 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.