FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Cannabix Technologies Expands Marijuana Breathalyzer Portfolio with Licensing of UBC Technology for Workplace and Parental Use.”
Cannabix Technologies Inc. (CSE: BLO) (OTC: BLOZF) developer of the Cannabix Marijuana Breathalyzer is pleased to report that the Company has entered into an exclusive license agreement with the University of British Columbia (“UBC”) to use and commercialize certain technology for the detection of volatile organic compounds for testing (to be used for marijuana breathalyzer purposes) owned by UBC developed by Dr. Mina Hoofar and her team of researchers at the UBC Okanagan School of Engineering. The patent pending UBC technology known as a “THC Breath Analyzer” (“THCBA”) incorporates highly sensitive microfluidic sensors that can be manufactured at relatively low cost. This exclusive technology license will allow for Cannabix to offer a complementary low-cost portable breathalyzer device that would be ideally suited for workplace, parental and personal use testing. Cannabix’s advanced “FAIMS” (field asymmetric waveform ion mobility spectrometry) based marijuana breathalyzer system will be primarily focussed on roadside testing with law enforcement and toxicology lab confirmation. UBC is developing the THCBA on an accelerated pace and Cannabix anticipates that a breathalyzer device is expected to be available for expanded testing this fall/winter. Significant development work has been accomplished on the THCBA by UBC and images of the of the THCBA portable device (under development) can be viewed at cannabixtechnologies.com.
Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples.
Over the past several years, youth smoking rates have declined, but electronic cigarettes have quickly filled this gap. In recent years, e-cigs have become widely popular among the youth, as many young adults quickly became addicted and began consuming dangerous amounts of the e-liquid. Consequently, e-cig users began to notice adverse effects such as respiratory and cardiovascular issues. Similarly, the cannabis industry began to receive backlash in light of the ongoing e-cig epidemic. And while large e-cig manufacturers were being investigated for business practices, cannabis extract and concentrate retailers were also being probed. Furthermore, it was discovered through multiple investigations that certain companies were using synthetic chemicals within their products, which, are not approved by federal health agencies. The growing concern has now caused many consumers to stray away from both the e-cig and cannabis market until enforcement agencies begin to regulate products. And while the cannabis industry is still in its infancy stage, federal officials are diligently working towards providing consumers with legal and safe products. Notably, many companies within the cannabis market space have created proprietary technologies to further ensure products are safe to use. And as these technologies continue to undermine the misconception of cannabis being a dangerous substance, the market is positioned to witness substantial growth. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024.
In the 1990s, the U.S. began to reshape the cannabis industry after California legalized the plant for medicinal purposes. However, other states and even international countries voiced their concerns over legalizing cannabis. Cannabis was listed as a Schedule 1 drug under international regulations because of its THC or tetrahydrocannabinol content. THC is commonly known to cause mind-altering effects on the consumer, and as a result, regulators deemed cannabis to be unsafe. However, with the emergence of the cannabis industry, entrepreneurs have developed state-of-the-art technology to debunk common misunderstandings about cannabis. Notably, researchers have launched clinical trials to further understand the efficacy of cannabis and its effects. And a number of clinical trials have proven that cannabis offers therapeutic effects, which can alleviate medical conditions such as cancer, chronic pain, and epilepsy. Despite medical breakthroughs in the industry, consumers have also demanded more transparency between themselves and producers. The major concern among consumers is the lack of regulations to ensure products are safe to use. Consequently, entrepreneurs began to develop state-of-the-art technology in order to provide safer products. For instance, seed-to-sale tracking has become a major and required technology within the marketplace. Specifically, seed-to-sale tracking provides buyers and consumers with extensive information regarding where their product was grown, what it was treated with, as well as its shipment process. Moreover, other companies have created open-source databases for consumers to understand the effects of cannabis such as its health impact or therapeutic benefits. On the other hand, some companies have dabbled into the legal enforcement industry and manufactured products such as THC-breathalyzers. “As the cannabis market grows in the United States, creative innovators and smart, opportunistic entrepreneurs are making their mark. Scores of innovations have debuted, with some unique to the cannabis industry while others with roots in legacy industries have taken hold in the marketplace. The following innovations and their applications reflect my research and serve as a representative sample of the types of innovations that continue to shape and stimulate the cannabis industry,” said David Whitney, Assistant Director of the UF Engineering Innovation Institute at the University of Florida Wertheim College of Engineering.
For more information, please visit: Cannabix Technologies Inc.
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