Earth Science Tech Inc (OTCMKTS:ETST) has announced that it would be focusing its R&D efforts towards the development of three new advanced CBD nutraceutical products, as well as two CBD-based pharmaceutical drugs. The company also noted that it would be utilizing its patent for cannabis CBD, its IPs and current and future technologies, on these projects. ETST also announced that the project would be initiated in Canada, through a joint venture, which is yet to be finalized.
Providing details about the venture, the company revealed that it would provide them with access to state-of-the-art laboratories, to further develop these drugs, for the alleviation of certain disorders and conditions. In addition to this, Earth Science revealed that it plans to target only those diseases, for which the benefits of CBD are already known.
In particular, the new products would be focused on breast cancer, improvement in human brain cell function and improvements in immune cell functions. It should be noted here that the company has already conducted an in vitro study, which proves the effectiveness of CBD for the stated conditions. Moreover, ETST also has a provisional patent application pending, with regards to this study. The CEO and CSO of Earth Science, Dr. Michel Aube, claimed that the drugs would treat a number of diseases, which include depression, anxiety, fatty liver disease and triple-negative breast cancer. He further voiced his belief that this represents a large market for the products and he was looking forward to discuss further details of the project.
The CEO also reaffirmed that ETST has access to the laboratory resources and scientific researchers needed for the development of these products. He also claimed that the move would help the company solidify its position in the cannabis market. Dr. Aube also stated that the two new CBD-based pharmaceutical drugs would help them enter a whole new market.
Earth Science Tech Inc (OTCMKTS:ETST) recorded a trade volume of 5,050 and a gain of 26.3% in terms of its share value, during the December 20 trading session, to close at $0.379 per share.