Geocann inks supply and distribution agreement with Opticann, a new U.S.-based company founded by former MedReleaf executives
Under Closners leadership, MedReleaf became a dominant player in the global cannabis industry and was acquired by Aurora Cannabis for $2.51 billion USD in 2018.
FORT COLLINS, Colo., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Geocann is proud to announce a strategic partnership with Opticann Inc. (“Opticann”) that will bring VESIsorb® formulated hemp products into the food, drug and mass market channel of distribution. Opticann is a Colorado-based company that was founded by former MedReleaf Corp. executives, including Neil Closner (founder and former CEO), Umar Syed (former SVP Corporate Development), Angelo Fefekos (former SVP of Clinical Affairs & Quality Compliance) and Ori Sher (former Sr. Director of Procurement and Security). Under Closner’s leadership, MedReleaf became a dominant player in the global cannabis industry and was acquired by Aurora Cannabis for $2.51 billion USD in 2018.
“We are delighted to reach an agreement with Opticann for the largest and one of the most strategically important channels of distribution in the U.S. marketplace,” said Jesse Lopez, CEO and founder of Geocann. “Opticann’s leadership team has a proven track record of achieving industry-leading market share positions by pioneering innovative cannabis products with strong brands and unrivaled consumer appeal. I’m confident this pedigree of strategic execution will translate perfectly to Opticann’s future success.”
The specifics of the agreement are confidential and include a combination of cash, equity, and royalty payments to Geocann in exchange for the distribution rights of select VESIsorb® formulated CBD and CBG products to CVS, Walgreens, Rite-Aid, Kroeger, Walmart and Costco.
“The patented VESIsorb® delivery system provides a much-needed platform for entering the U.S. food, drug and mass channel with product differentiation and an unmatched history of safe and effective use,” said Closner, Chairman of Opticann. “Together with Geocann, we share a commitment for building leading healthcare brands that consumers recognize for having superior safety, purity and performance. Our partnership was built with these elements as its bedrock.”
According to Closner, the recent study that was published in the peer-reviewed journal, Molecules, was of noteworthy appeal to formalizing an agreement with Geocann. The results of this double-blind, cross-over study (Molecules 2019,24(16), 2967) comparing the pharmacokinetic (PK) parameters of a broad spectrum hemp extract formulated with VESIsorb® to that of the same broad spectrum hemp extract combined with medium chain triglyceride (MCT) oil. Overall, the VESIsorb® formulation showed statistically significant improvements for all measured pharmacokinetic parameters, including a 440% increase in maximal plasma CBD concentration (Cmax), a 285% increase in total CBD exposure over time [area under the curve (AUC)], and a 300% improvement in time to peak absorption (Tmax).
“These published results are unmatched in our industry and clearly demonstrate that cannabinoids formulated with VESIsorb® perform better in the human body, ensuring that health conscious consumers are receiving the maximum therapeutic benefits from Opticann’s product portfolio,” Closner stated. “Nothing gives a brand a better advantage of entering a new market than a peer-reviewed published study showing our products work better than competitive offerings.”
Geocann has the exclusive global rights to the patented VESIsorb® drug delivery technology for cannabinoids, terpenes, and flavonoid formulations. The technology has been successfully applied to a wide range of cannabis based product applications, including soft gel and hard shell capsules, functional foods (e.g. gummies) and beverages, powder systems, tinctures, sublingual sprays, and topically applied formulations.
About Geocann
Geocann is a global cannabis organization led by experienced leadership with scientific and technical expertise for pioneering new innovations in natural health products and solutions. Its focus is combining clinically-researched cannabinoids with technologically-advanced and patented innovations that provide product differentiation with superior therapeutic performance and unmatched supporting evidence. For more information, please visit www.geocann.com.
About Opticann
Opticann is dedicated to bringing medical hemp-based cannabinoid products backed by objective scientific data on safety, performance, and effectiveness to the market. Opticann was established by former executives and pioneers from the medical, pharmaceutical and medical cannabis industries who built MedReleaf Corp. into a leader in the global cannabis industry. Our founders have a strong belief in the power of phytocannabinoids for multiple medical and health benefits based on a sound understanding of the scientific rationale. Our mission is to market products that are clearly differentiated versus other hemp-based cannabinoid products and non-hemp based standard therapies. We believe in consumers and health care professionals choosing well-formulated products based on superior performance backed by sound and objective testing and both clinical and non-clinical scientific research.
About VESIsorb®
VESIsorb® is the leading delivery system innovation for dramatically improving the bioavailability of poorly absorbed ingredients, like cannabinoids. Since 2005, the advancement and superiority of this colloidal droplet delivery system have consistently been demonstrated in well-designed pilot and peer reviewed published pharmacokinetic absorption and bioavailability studies. For more information, please visit www.vesisorb.com.
For more information and interview requests, please contact Sam Davidson at 970-657-2479 or [email protected].
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a46fa4f9-dbd3-4fb6-842d-40ecb895fee5
