- The merged company will target the international cosmetics market (projected to reach $758 billion by 2025), agricultural technology and products ($729 billion by 2023), the biopharmaceuticals market ($389 billion by 2024) and the hemp-derived CBD market ($23.7 billion by 2023)
- Cannaworx has a diverse portfolio and plans to launch several products in 2020, including two with a pain indication allowed under an FDA OTC monograph
- Cannaworx’s sativa oil skincare serum sold $250K in 10 minutes on QVC in December 2019
- Merger will give Cannaworx access to Pressure BioSciences’ proprietary method for processing oil-based products into high quality nanoemulsions (Ultra shear Technology), which is expected to further increase the bioavailability and efficacy of Cannaworx products
Pressure BioSciences Inc. (OTCQB: PBIO), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology and biotherapeutics industry, announced that it has signed a binding letter of intent to acquire Cannaworx Inc., a privately-held company, according to a press release on April 29th (http://cnw.fm/f4ANi).
The merged entity, equipped with an extensive intellectual property portfolio utilizing a proprietary pressure platform, nanotechnology and advanced delivery systems, plans to disrupt a number of major world markets. These include the international cosmetics market, projected to reach $758 billion by…
NOTE TO INVESTORS: The latest news and updates relating to PBIO are available in the company’s newsroom at http://cnw.fm/PBIO
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