Puration Inc (OTCMKTS:PURA) and Spanish Peaks Scump Delicacies reported that they have finalized a $1 million collaboration deal to produce and co-market CBD and THC infused beverages. This deal markets the first of three projected deals with food and beverage firms to be reported in the coming period by Puration.
The highlights
Puration uses a highly refined cannabis extraction procedure to deliver premium and consistent cannabis extracts. The company last week reported an independent lab test verifying CBD extract with 98% purity. As of now, its business plan is to advance collaboration deals with food and beverage firms to co-market beverage and food products infused with cannabis extracts. Puration has posted a business plan with revenue estimate of $3 million on its website.
The deal
Spanish Peaks is a venture dedicated to establishing cannabis consumer product production facility in Colorado. This inclination towards Colorado can be attributed to the fact that the Southern Colorado Town was featured in a report published by USA TODAY in 2015.it is stated as a potentially ideal place for the growing cannabis industry, which is not given importance by the investment community.
Together the two firms intend to develop a line of CBD and THC infused beverage offerings for the market where law permits. The basis of the reported collaboration deal, and the first year planned target of $1 million sales, is seen on an affiliated distribution association.
The updates
In last week of July, Puration reported that the independent lab test results of its CBD crystal extract. The firm reported the launch of its CBD crystal extract in June. An Independent lab test has verified pure CBD content of 98% in Puration’s CBD Isolate. The company is engaged in the production of repeatable and standardized cannabis extraction procedures that can deliver premium concentrate for infusion into food and beverage goods. These products appeal to the wellness and recreational market segments.
Pluristem Therapeutics Inc. (NASDAQ:PSTI) To Deploy Medidata Cloud Technology
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Pluristem says it will use the cloud platform to capture, manage and maximize all the clinical data that come to its possession. The deployment is also part of an effort that seeks to equip doctors, patients and healthcare facilities with standardized and easy to use cell therapies.
The deployment is expected to provide Pluristem Therapeutics Inc. (NASDAQ:PSTI) with real-time visibility of clinical data that should go a long way in enabling better oversight of clinical trials.
