FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Amarantus Acquires Majority Interest in CBD Wellness Company Hempori.”
Amarantus Bioscience Holdings, Inc. (OTC: AMBS), a biotechnology holding company pursuing proprietary therapeutics and diagnostics through its subsidiaries, today announced that it has acquired a controlling interest in Hempori, Inc., a CBD wellness retailer in Dallas, TX with 2 stores and a growing physical and online presence. Concurrent with this announcement, Hempori has placed an initial purchase order for hemp smokes from Emerald Organic Products, Inc., an Amarantus partner. Amarantus intends to evaluate a smoking cessation program, with an initial focus of getting feedback on the hemp smokable products from customers who are actively seeking to reduce, or cease, chronic use of cigarettes and/or e-cigarettes
The Hempori brand is active in the Hemp industry and has over 75 products that are sold in its own stores in Dallas, Texas and online via Hempori.com. Hempori has developed unique proprietary products in the Hemp industry and is actively engaged with researchers to gather data regarding the utility of its products.
Amarantus Bioscience Holdings is a JLABS alumnus biotechnology company developing treatments and diagnostics for diseases in the areas of neurology, regenerative medicine and orphan diseases through its subsidiaries
The U.S. cannabidiol market burgeoned after the passage of the Farm Bill in 2018. The Farm Bill legalized the commercialization of CBD-based products as long as they do not contain any more than 0.3% THC levels. Federal regulators decided to legalize the use of CBD after researchers undermined misconceptions that the cannabinoid causes psychotropic effects. Extensive research ultimately proved that CBD offers a plethora of health and therapeutic benefits for consumers, with none of the hallucinogenic properties associated with THC. Notably, most people are using CBD as more of an over-the-counter treatment to alleviate minor medical conditions such as headaches or pain. Moreover, CBD is also known to provide consumers with many beneficial nutrients such as protein, fiber, and essential fatty acids. Additionally, CBD provides consumers with amino acids, vitamins A, C, E, and B complex. Furthermore, studies have also indicated that CBD can be used to treat serious life-threatening conditions such as cancer, multiple sclerosis, HIV/AIDS, Alzheimer’s, and Parkinson’s. However, to note, there is no evidence that CBD cures or prevents diseases, even as researchers have boasted that CBD can help relieve some symptoms associated with some medical conditions. For instance, many conditions such as cancer or Parkinson’s can lead to chronic pain, which can affect daily life activities such as movement or even sleep. CBD is known to relieve inflammation and pain as well as stimulate relaxation. Over the past year, CBD products have rapidly emerged throughout the U.S. and now consumers can easily find CBD products such as tinctures, topicals, oils, and even vapes at their local convenience store, pharmacy, and online. The widespread availability of CBD also highlights the massive expansion of the industry despite it being an underdeveloped market. Nevertheless, research and clinical trials are continuing to promote the benefits of CBD. And as a result, the U.S. CBD market is anticipated to deliver total sales of over USD 20 Billion by 2024 while expanding at a CAGR of 49%, according to data compiled by BDS Analytics and Arcview Market Research.
CBD has been touted for its wide range of health uses, but so far, it has only been approved to treat childhood epilepsy syndromes, such as Dravet syndrome and Lennox-Gastaut syndrome. Last year, the U.S. Food and Drug Administration approved Epidiolex, marking the first approved cannabis-based drug. However, the FDA has made clear that additional research is required in order to advance with more approvals. Notably, the FDA has since held numerous public hearings in order to further understand the efficacy of CBD. And while only one cannabis-based drug has been approved, the efforts of the FDA highlight that CBD is having a profound medical progression. Currently, most consumers are using CBD to predominantly treat their insomnia or anxiety, but as clinical trials continue to develop, more approved CBD-based drugs could emerge. And according to WebMD, there is a long list of conditions in which there is insufficient evidence on the benefits of CBD. For example, WebMD says there is a lack of evidence for bipolar disorder, Crohn’s disease, diabetes, dystonia, Huntington’s disease, schizophrenia, and Parkinson’s disease. Nevertheless, researchers are actively conducting studies to better understand the effects of the compound. Additionally, many industry experts believe that CBD could potentially become a medical breakthrough that could replace dozens of different traditional drugs on the market. “While those in the industry, medical professionals and the public all seem to be in favour of CBD as a medical product, the stringent regulatory barriers in place before any product can be fully licensed require, quite rightly, extensive testing and trials,” said Dr. David Dawit, Chief Scientific Officer at Eos Scientific. “The future of CBD looks incredibly promising.”
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