Benzinga | Jul 8, 2021 09:52AM EDT

cbdMD Therapeutics Releases Research Plan

cbdMD, Inc. (NYSE:YCBD, YCBDpA))))), one of the leading, and most highly trusted and recognized CBD companies, announced today that its recently formed division, cbdMD Therapeutics, has initiated talks with one of the leading US cannabinoid research institutes, to identify novel cannabinoids for therapeutic use. The Company also anticipates the identification of dietary supplement applications through this process. The Company expects to finalize the agreement with the research institute and commence studies by Fall 2021. The intended purpose of these studies is to provide data that will feed into the cbdMD Therapeutics research pipeline. Following the execution of this work, cbdMD Therapeutics will perform the requisite toxicological studies with Ion Tox, a leading in vitro toxicology and ADME-PK testing company, to support the safety of the cannabinoids of interest. This safety data will support the ensuing preclinical trials in humans to explore the efficacy of the cannabinoids. This work will support potential future applications for Investigational New Drugs (INDs) with FDA's Center for Drug Evaluation and Research (CDER) in humans and animals.

"cbdMD began its first phase of research in the Fall of 2020, with its first in vivo animal study and clinical trials. The second phase of research is now underway to identify promising cannabinoids for both human and pet drug therapies. As an additional benefit of our comprehensive therapeutics research plan, we anticipate our research results will also allow our cbdMD, Paw CBD and cbdMD Botanicals brands to make certain claims on our consumer products, such as reducing inflammation, supporting healthy sleep, promoting recovery from strenuous activity, maintaining focus and positive mood, and improving mobility. The ability to make scientifically backed claims in the dietary supplement space will further elevate our brands' reputation and marketability, especially as we now anticipate the full integration and widespread acceptance of CBD in channels of distribution currently unavailable, including Food Drug and Mass (FDM), third-party marketplaces, such as Amazon, and international marketplaces worldwide. In addition to these new distribution channels, we expect opportunities to become available to market, advertise and sponsor CBD products across all major TV networks, sports leagues, and ecommerce platforms for those CBD companies that have proven clinical data to support their products. The investments we are making today not only elevate the cbdMD brands, but raises the bar for the entire CBD industry," said Martin Sumichrast, Chairman & co-CEO of cbdMD, Inc.

"The potential opportunity to discover how cannabinoids can provide significant health and medical benefits for human and animals is incredible. cbdMD intends to partner with leading research institutes, global drug development companies, and like-minded brands, to unlock the potential benefits of cannabinoids," said Dr. Sibyl Swift, VP, Scientific & Regulatory Affairs.