Statement from NanoSphere Health Sciences and Evolve Formulas CEO and Chairman Robert Sutton
Statement from NanoSphere Health Sciences and Evolve Formulas CEO and Chairman Robert Sutton regarding the proposed regulation of marijuana nasal sprays, inhalers and suppositories in Colorado by the Marijuana Enforcement Division and Colorado Department of Public Health and Environment.
“In response to the news that the Marijuana Enforcement Division and Colorado Department of Public Health and Environment have proposed a state ban on marijuana nasal sprays, inhalers and suppositories, NanoSphere Health Sciences is taking part in industry working groups with the aim of formulating new language for regulations, which include quality controls for these products while still allowing them to be sold to consumers in need. Total removal of these products from dispensaries in Colorado is a temporary provision that we do not expect to become permanent. Rather, this is an interim rule instated to allow time to draft full regulation for the products in question.
“NanoSphere Health Sciences’ cannabis brand, Evolve Formulas, does not offer any products on the market that fall under this temporary regulation. Our future pipeline includes an intranasal product which would be affected by the proposal – however, NanoSphere Health Sciences already conducts pharmacokinetic studies and clinical trials, adhering to the most rigorous scientific standards. Further to this, our manufacturing processes and advanced lab techniques ensure that our products are pure and 99.9% free of contaminants. We are therefore confident that our products will be completely in compliance with the standards for safety and effectiveness that are anticipated to be introduced on January 1, 2019.
“NanoSphere Health Sciences is licensing IP to partners in other states, including California and Arizona, where we will launch products before 2019 without being delayed by any complications stemming from the new restrictions. In addition to the growing market for Evolve Formulas, we are already planning to expand our product line in the near future to include numerous other innovations, such as an intraoral product and a vape cartridge, both utilizing the patented NanoSphere Delivery System™ for safer, faster and more effective consumption, unparalleled in precision and bioavailability.
“We are proud to be part of the Colorado marijuana industry, which in the wake of this news has formed an alliance to develop solutions and to prove itself as a source of relief, healing and enjoyment, backed by a strong body of research-based evidence. Together, we will continue to develop natural alternatives to harmful opioids, while elevating ourselves to the highest standard of excellence and scientific integrity.”
- Robert Sutton, CEO and Chairman of NanoSphere Health Sciences and Evolve Formulas