NEW YORK, January 12, 2018 /PRNewswire/ --
A report published by Ameri Research Inc. indicates that the global legal cannabis market was valued at $14.3
billion in 2016 and is forecast to grow at a CAGR of 21.1% between 2017 and 2024, culminating in 2024 global sales
of $63.5 billion. According to Ameri, the legal cannabis market is witnessing robust growth due to the increasing
decriminalization of cannabis products across North America and Europe. The rising demand of cannabis for both
medical and recreational use is a key factor driving the growth. In addition, it is estimated that due to the complex regulatory
structure at the state level and federal level, the full potential of the market is not realized. The states of California, where sales of reactional cannabis products have officially become legal this month, is expected
to greatly contribute to the industry. Pivot Pharmaceuticals Inc. (OTC: PVOTF), Cronos Group Inc. (OTC: PRMCF), Cronos Group Inc.
(OTC: PRMCF), Zynerba Pharmaceuticals (NASDAQ: ZYNE), GW Pharmaceuticals plc (NASDAQ: GWPH)
A report published by New Frontier Data indicates that young adults between the ages of 18 and 34 account for 80 percent of
cannabis e-commerce and delivery purchases in California. Giadha Aguirre de Carcer, New Frontier
Data CEO, said: "Significant changes are already underway in California for medical cannabis and
adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in
the state. As the largest state in the country - and the largest potential market for cannabis products - the implications for
the growth of the industry because of California's adult use market cannot be overstated."
Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) also listed on the Canadian Stock Exchange under the Ticker 'PVOT'. On
January 9th the company announced breaking news that, "the Company has signed a Service Agreement
with SoluBest Ltd., an Israeli-based research organization that specializes in the development of client tailored formulation and
pilot production services and scale-up. SoluBest, located at the prestigious Weizmann Institute of Science campus, has been
selected to develop Pivot's topical bio-cannabis pipeline of products.
Pivot also wishes to announce that pursuant to its previously announced Binding Letter of Intent to license Thrudermic LLC's
transdermal nanotechnology, Dr. Joseph Borovsky and Dr. Leonid
Lurya have agreed to lead the development of Pivot's topical bio-cannabis programs at SoluBest. These programs include
BiPhasix semi-solid topical cream and Thrudermic's transdermal technology for the delivery of cannabis through the skin
barrier.
Dr. Joseph Borovsky, Thrudermic's Chief Executive Officer, indicated that "Thrudermic expects
to provide Pivot with product for market launch by Q2 2018. Working in SoluBest's state-of-the-art facility using Thrudermic's
formulation know-how will afford Pivot the opportunity to accelerate the development, testing and introduction of new products to
the market."
Dr. Patrick Frankham, Pivot Pharmaceuticals' Chief Executive Officer, states that "we are
delighted to be moving ahead with our plan to develop best-in-class topical bio-cannabis products led by Dr. Borovsky and Dr.
Lurya from Thrudermic. We are equally happy to report that we have found a very qualified laboratory and development partner for
our topical development programs for our BiPhasix and Thrudermic technologies in Israel. This
announcement accelerates our product development and confirms that we will be ready to introduce several bio-cannabis based
products to the market in 2018. The potential to recognize revenue from quality products will help patients and caregivers better
manage their health conditions."
Cronos Group Inc. (OTC: PRMCF) is a geographically diversified and vertically integrated cannabis company that operates
two wholly-owned Licensed Producers regulated within Health Canada's Access to Cannabis for Medical Purposes Regulations and
holds a portfolio of minority investments in other Licensed Producers. On December 27, 2017, the
company announced that its first shipment to G. Pohl-Boskamp GmbH & Co. KG of Peace Naturals branded products is now
available for sale across retail locations throughout Germany. Peace is a wholly-owned licensed
producer operated by Cronos, and Pohl-Boskamp is an international pharmaceutical manufacturer with distribution into over 12,000
pharmacies in Germany. With over 82 million people, Germany is
the largest federally legal cannabis market in the world, and Pohl-Boskamp's distribution network provides Cronos access to
patients with insurance coverage for medicinal cannabis.
Zynerba Pharmaceuticals (NASDAQ: ZYNE) is a clinical-stage specialty neuropsychiatric pharmaceutical company dedicated
to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare
diseases with high unmet medical needs. On January 3, 2018, the company announced that it will
concentrate its focus on rare (meeting the US FDA designation of an orphan disease, affecting fewer than 200,000 people in the
U.S.) and near-rare (affecting fewer than one million people in the U.S.) neurological and psychiatric disorders with high unmet
medical needs. In 2018, the Company intends to develop ZYN002 in a pivotal Phase 2/3 program in Fragile X syndrome (FXS) and in
Phase 2 programs in refractory epilepsies, including adult refractory focal epilepsy and developmental and epileptic
encephalopathies (DEE) in pediatric and adolescent patients. Zynerba is currently developing ZYN002, the first and only
patent-protected, pharmaceutically-produced CBD that is formulated as a permeation-enhanced gel for transdermal delivery.
GW Pharmaceuticals plc (NASDAQ: GWPH) is a biopharmaceutical company focused on discovering, developing and
commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. On
December 29, 2017, the company announced it has submitted its Marketing Authorisation Application
(MAA) to the European Medicines Agency (EMA) for Epidiolex® (cannabidiol or CBD) as adjunctive treatment for seizures associated
with Lennox-Gastaut syndrome (LGS) and Dravet syndrome, two highly treatment-resistant forms of childhood-onset epilepsy. GW has
received Orphan Designations from the EMA for Epidiolex for the treatment of LGS, Dravet syndrome, and recently, West syndrome
and Tuberous Sclerosis Complex. In October 2017, GW completed the submission of its rolling
Epidiolex New Drug Application (NDA) to the United States Food and Drug Administration (FDA), also for seizures associated with
LGS and Dravet syndrome. This NDA has been accepted by the FDA for Priority Review.
Cara Therapeutics Inc (NASDAQ: CARA) is a clinical-stage biopharmaceutical company focused on developing and
commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting peripheral kappa opioid
receptors (KORs). Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS
cannabinoid receptors. Cara's most advanced CB compound, CR701, is in preclinical development. "Cannabinoid Receptor Agonists
like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain." Cara Therapeutics
CMO Joseph Stauffer said.
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News,
Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company
Interviews. A pioneer in the financially driven digital space, video production and integration of social media,
FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination,
branding, marketing and advertising for third parties for corporate news and original content through our unique media platform
that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial
Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not
undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided
[exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into
media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials
for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the
information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting
high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com
does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along
with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our
unique financial newswire and media platform. For pivot pharmaceuticals inc. financial news dissemination and PR services,
FinancialBuzz.com has been compensated five thousand dollars by vintage capital group inc. Our fees
may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a
combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance
is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or
cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the
editorial or Site or continue to post information about any companies the information contained herein is not intended to be used
as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information
contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are
not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles,
quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full
responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own
investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any
pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the
content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular
security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided
by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is
suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult
with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to
the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information
is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer,
disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
For further information:
Media Contact:
info@financialbuzz.com
+1-877-601-1879
URL: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com