Creso Pharma completes integration of Creso ImpACTIVE Ltd assets as it continues to broaden US horizons

Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) has completed the integration of Creso ImpACTIVE Ltd’s assets into its product portfolio in a move that should help CPH increase its North American footprint and broaden its range of leading CBD products.

CPH has now made excellent progress in strengthening its IP position around the new products and started stability testing protocols. The results of these tests will underpin ongoing international expansion efforts and add to the growing body of evidence for CBD.

Stability testing provides evidence on how the quality of a drug substance or product varies over a given time period, under the influence of environmental factors including temperature, humidity and light.

Testing highlights CPH’s commitment to a scientific-based approach to product development and will assist with ongoing international expansion efforts.

Importantly, stability testing is expected to highlight a potential 24-month shelf life for products, an increase on the current 12 months, with results anticipated in December 2021.

“The acquisition of the assets of ImpACTIVE was a major development for Creso Pharma as we saw significant potential based on the product suite and the strength of the management team,” CPH non-executive chairman Adam Blumenthal said.

“It also highlights our ongoing commitment to an imminent US market entry particularly ahead of our potential NASDAQ dual listing. As our first acquisition to that effect, it is pleasing to see the progress being made and the integration being a seamless one.”

CPH applies for US patent protection

Ahead of the proposed product launch into the US, CPH has filed an application with the US Patent and Trademark Office (USPTO), international trademark registration for ImpACTIVE ‘Topical compositions for pain relief’ products.

The global market for CBD products in sports set to reach US$22 billion by 2022 and CPH has developed a detailed marketing and sales plan to capitalise.

The health benefits of various cannabinoids as alternative treatments in the sports industry and mong the athletic community are becoming more accepted and reliable in reducing muscle and joint inflammation.

Creso ImpACTIVE’s products and the basis of the patent is for the convenient delivery of these cannabinoids for fast pain relief.

CPH has so far filed six trademarks with the World Intellectual Property Organization (WIPO) and the Canadian Intellectual Property Office over the product suite of Creso ImpACTIVE Ltd.

If granted, the trademarks will protect the ImpACTIVE brand name and logo.

Direct consumer launch

CPH has slated early 2022 for its direct consumer launch, with Creso ImpACTIVE having now finalised the development of a detailed marketing plan.

The key deliverables will allow CPH to establish and expand its brand, industry reach and products.

A key focus of the plan is the inclusion of an ambassador recruitment program, with the company now working alongside a number of leading, well-known brand ambassadors including 14-year professional hockey veteran Mark Fraser and professional hockey player Pheonix Copley, as well as retired professional hockey player Matt Barnaby and professional Canadian football player Nathaniel Behar.

The expansion of the ambassador program should increase CPH’s reach across potential ImpACTIVE customers in key geographic locations.

Creso ImpACTIVE is also in advanced discussions with several high-profile North American sports names, who it is hoped will with ImpACTIVE’s brand values.

Near term ambassador announcements are expected.

“It’s encouraging to see the ImpACTIVE team make such rapid progress in such a short amount of time. The advancement we are making highlights our push to go ahead with the planned direct consumer launch early next year, and based on the recent milestones we are anticipating to achieve our goal,” Blumenthal said.

What to expect

Product approval has been achieved in the RangeMe system and tender applications for Creso ImpACTIVE’s products have been submitted into CVS and Walgreens, which are now being progressed.

Collectively, CVS and Walgreens have more than 20,000 retail locations across the United States and UK and average more than $400 billion in gross revenue.

If integrated into these stores, the company would have a fast, efficient and scalable launch of the ImpACTIVE product range.

Discussions with additional retail outlets via RangeMe and other platforms to achieve greater uptake are also underway.

Outlets that use the RangeMe and other such platforms includes Whole Foods, PetCo, Target, GNC and Safeway (NYSE:SWY) amongst others.

Story by ProactiveInvestors