BioLife Sciences Inc. To Incorporate New Sub-Sector Dedicated To CBD

BioLife Sciences Inc. To Incorporate New Sub-Sector Dedicated To CBD

BioLife Sciences (OTCPK: BLFE), a firm dedicated to developing, licensing, and distributing antimicrobial products and disruptive technologies, announced on Tuesday that it is expanding its recently announced orthomolecular medicine and natural health products department to now include a subsector dedicated to non-psychoactive cannabinoids derived from industrial hemp, including, but not limited to, cannabidiol (CBD) products.

This new subsector will focus on clinical hemp natural health products in addition to non-psychoactive cannabinoid research and development.

BioLife aims to focus on products highlighting hemp’s naturally occurring cannabinoids (excluding any psychoactive cannabinoids such as THC), with a focus on CBD, CBG and CBN. The company’s focus will be founded in medical products, beverages, creams, salves, efficacious supplements, superfood concentrates, nutraceutical formulations, and advanced orthomolecular and natural health products.

This latest announcement by BioLife is directly founded on the Company’s recent acquisition of Health Box LLC, which facilitated the expansion of the Company’s scope to micronutrients, medicinal herbal supplements, botanicals and holistic merchandise.

The Brightfield Group recently announced projections for the hemp CBD industry to continue to expand in 2022, with a projection of nearly 400% growth to $22 billion by the end of the year,” the company noted in a press release. “CBD usage has steadily increased in the U.S. since 2018, with multiple peer-reviewed studies having confirmed that the cannabinoid may help with a wide variety of ailments and conditions, including, but not limited to, pain, stress, weight loss, anxiety and depression.”

Nika Jaksic, COO of BioLife Sciences added that with CBD sales on the rise, they expect e-commerce sales to also gain.

“We believe CBD sales will continue their strong upward trend with current e-commerce sales soon being joined by consumers returning to brick and mortar options, as the pandemic wanes and disposable incomes continue to rise. CBD and other cannabinoids found in the hemp plant are very helpful supplements, as evidenced by continuous studies highlighting that we haven’t even begun to understand all of these healing cannabinoid’s abilities and uses,” Jaksic said .

Image By Ilona Szentivanyi. 

© 2022 Benzinga does not provide investment advice. All rights reserved.

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