InnoCan Pharma Plans to Enter CBD Beauty Market with Launch of InnoCan Branded Cosmetic Products in H1/20
CALGARY, ALBERTA and TEL AVIV, ISRAEL / ACCESSWIRE / October 21, 2019 / InnoCan Pharma ("InnoCan" or the "Company") (CSE:INNO) announced Tel Aviv, Israel today that it plans to accelerate its entry into the lucrative and growing CBD beauty market. InnoCan's R&D team, led by Nir Avram, a senior pharmaceutical scientist with more than 30 years experience, is developing a line of cosmetics containing CBD offering several high-quality products including anti aging facial oils, facial serums, eye serums, facial creams, facial masks, body oils and body lotions.
Iris Bincovich, InnoCan's CEO, said, "The CBD cosmetic could be a significant market for InnoCan and we have been working on planning and developing a cosmetic line for sometime. We are very excited by the products we are planning for a commercial launch in the first half of 2020."
According to a recent market study published by Adroit Market Research in August 2019, the worldwide cannabidiol (such as CBD) cosmetics market was valued at USD 588.64 million in 2018 and is anticipated to grow at a CAGR of 31.3% over the next seven years.
About InnoCan Pharma Corporation
InnoCan brings pharmacological rigour to the burgeoning CBD marketplace. The founders and officers of InnoCan all have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally. InnoCan's business has three distinct operating segments relating to the incorporation in products of CBD in their formulation: (i) research, development, marketing, distribution and sales of InnoCan-branded OTC pharmaceutical products; (ii) research and development of non-pharmaceutical products for third parties in exchange for fees and/or royalties; and (iii) research and development of hydrogels containing liposomes intended for licensing or sale to third party pharmaceutical corporations for manufacturing, distribution and sales. http://innocanpharma.com/
For further information, please contact:
For InnoCan Pharma Corporation:
Iris Bincovich, CEO
For Investor Relations:
Proconsul Capital Ltd.
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SOURCE: InnoCan Pharma Corp