The bioscience company said it has applied for a P2020 research grant under the project name SkanABility for a proof-of-concept study of the biological activity of cannabinoids and terpenes in cosmeceutical applications
Inc () (FSE:A2PAW2) said it has made advancements in the research & development (R&D) operations at its facility in Lisbon, Portugal.
The bioscience firm, which specializes in unique cannabinoid formulations, said it has applied for a P2020 research grant under the project name SkanABility for a proof-of-concept study of the biological activity of cannabinoids and terpenes in cosmeceutical applications.
READ: EXMceuticals settles $4.6 million loan through share issuance
The project is seeking to demonstrate the commercial viability of cannabis compounds in cosmetic and aromatherapy products, as well as develop sustainable, functional packaging based on biodegradable cannabis materials such as fibers and waxes which will help to extend product shelf-life and preserve formulations and properties.
EXMceuticals noted that SkanABility will develop formulations for different types of cosmetics and aromatherapies such as acne face cleansers, anti-inflammatory and hypoallergenic treatments, and essential oils that the company plans to sell to industrial and pharmaceutical companies through a royalty-based business model.
The firm also said it has recently submitted an application to the Portuguese government through the I&D COVID-19 initiative and has begun investigating the virucidal efficacy of cannabis and terpene molecules in combatting the coronavirus.
Early indications suggest the molecules may inhibit the virus’s permanence on surfaces by attacking its cellular structure, which if proven effective could become key elements in commercial solutions sued to stop the spread of the virus, the company added.
EXMceuticals said it believes the molecules will help to reduce the spread of the illness and will be applicable in the disinfection of surfaces and goods, hand and body disinfection and coating social and surgical protective masks.
“COVID-19 is an inflection point in our history and has changed the way we view hygiene and cleanliness standards. It created ultra-high demand for cleaning products across industries, and consumers will seek out natural and effective alternatives, such as the ones being explored by EXM, that are less irritating to skin, less damaging to fabrics and surfaces, and the most sustainable for the environment”, the company concluded in a statement.
Contact the author at [email protected]
Follow him on Twitter @Cal_Proac
