Neutrisci Announces Successful Completion of Phase 1 R&D Development of a Cannabinol Product
VANCOUVER, BC / ACCESSWIRE / May 10, 2021 / NeutriSci International Inc. (“NeutriSci” or the “Company”) (TSX-V: NU, OTCQB: NRXCF, FRANKFURT: 1N9), an innovative technology company developing products for the nutraceutical industry, is pleased to announce the Phase 1 R&D completion of a newly developed Cannabinol (CBN) product for the US marketplace. In conjunction with its contract manufacturing partner Pacwest, the completion of Phase 1 used NeutriSci’s IP, technologies, and ingredients to create a finished CBN tablet product.
CBN is known for is its “sleepiness effect.” When taken, it is known to cause drowsiness. Sleep problems are widespread in modern society. According to the Center for Disease Control, one in three adults do not get enough sleep. Sleep-deprived individuals are more likely to suffer from the most damaging health problems of the modern world, including coronary heart disease, cancer, and arthritis.
The global sleeping aids market generated a revenue of US$78.7 billion in 2019 and is predicted to progress at a CAGR of 7.1% from 2020 to 2030 to attain a value of US$162.5 billion by 2030.
As per the findings of the American Sleep Apnea Association, over 50 million Americans are diagnosed with 80 different sleep disorders every year. Moreover, the organization found that 20 to 30 million people in the U.S. suffer from various intermittent sleep problems every year.
According to the organization, insomnia is the most prevalent sleep disorder, with nearly 30% of the adults living in the U.S. reporting short-term issues and around 10% reporting chronic insomnia. Besides this, the various lifestyle changes in people such as the high consumption of caffeine, tobacco, and alcohol is also propelling the market advancement.
Furthermore, the increasing working hours, high workload and work pressure, and hectic work environment massively push up the stress levels and affect the quality of sleep. This subsequently boosts the sales of over-the-counter sleeping pills, which help improve the quality of sleep, throughout the globe.*
Glen Rehman, CEO of NeutriSci, commented, “We are pleased to see our technology, IP and ingredients being used by our partners to develop a helpful and innovative product for people with sleep disorders that has a promising revenue potential. We will continue to work with our partners to help develop more new products that benefit from our technology and IP.”
* Source: https://www.prnewswire.com/news-releases/global-sleeping-aids-market-report-2020-market-generated-a-revenue-of-78-7-billion-in-2019-and-is-expected-to-reach-a-value-of-162-5-billion-by-2030–301176912.html
About NeutriSci International Inc.
NeutriSci specializes in the innovation, production, and formulation of nutraceutical products. Established in 2009, NeutriSci’s is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for its products offering co-branding as well as private label opportunities and contract manufacturing services. For more information, please visit: www.neutrisci.com.
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure, or prevent any disease.
SOURCE: NeutriSci International Inc
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