Umar Syed, president of Heritage’s medical and international business, said that "obtaining the distribution rights for VESIsorb products in Canada adds to our fast-growing suite of retail and medical product offerings”
Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) revealed on Tuesday that it has signed an expansion of its US supply and distribution agreement with Geocann LLC for a portfolio of cannabinoid products utilizing the patented VESIsorb delivery system for optimized absorption and stability.
The Toronto-based cannabis company said the agreement includes “strategic channels” in the Canadian marketplace that are currently accessible via the Canadian Cannabis Act, as well as “a platform for growth as regulatory conditions continue to develop.”
Heritage, through its US subsidiary Opticann, signed a supply and distribution agreement in 2020 to exclusively brand and market a select portfolio of VESIsorb formulated oral and topical CBD and CBG products to major US retailers, including CVS Health Corp, Walgreens Boots Alliance Inc, Rite-Aid, Kroger, Costco and Walmart Inc.
READ: Heritage Cannabis says Health Canada has granted it the first-ever license to export cannabis products from Canada to Brazil
“Obtaining the distribution rights for select VESIsorb products in Canada adds to our fast-growing suite of retail and medical product offerings across the country,” said Umar Syed, who is the president of Heritage’s Medical and International business in a statement.
“With this agreement, we will leverage the significant scientific research, customer targeting, market planning and branding activity underway for large US retailers to market these medical CBD products in Canada. These are highly differentiated products with published data to support their utility for medical applications.”
Syed noted that the firm’s portfolio of VESIsorb formulated products are designed to fulfill the “unmet needs of sophisticated consumers” and healthcare professionals who are “demanding science-backed and clinically-proven cannabinoid product offerings.”
VESIsorb is a leading, innovative delivery system technology for dramatically improving the stability, absorption, and bioavailability of natural ingredients like cannabinoids, and is backed by a robust body of supporting scientific evidence spanning several decades.
Most recently, the peer-reviewed journal 'Molecules', published the results of a double-blind, cross-over study comparing the pharmacokinetic performance of a CBD extract formulated with VESIsorb to that of the same CBD extract formulated with industry-standard (MCT) oil.
Overall, the VESIsorb formulation showed statistically significant improvements for all measured parameters, including much higher total absorption (a 440% increase in maximum plasma CBD concentration, and a 285% increase in total CBD exposure over 8 hours AUC). In addition, the time to reach the peak concentration was 300% faster than the standard formulation (1 hour for VESIsorb versus 3 hours for the standard to reach Tmax).
“Geocann is pleased to expand our agreement with Heritage as their leadership team has a proven track record of pioneering innovative cannabis products with strong brands and a strategic distribution infrastructure,” said Jesse Lopez, CEO and founder of Geocann.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive
