Oil and water can mix to the benefit of the cannabis industry, executives of Pressure BioSciences Inc (OTCMKTS:PBIO) told qualified investors at the Proactive Investors’ Invest In Cannabis conference.
More than 100 received updates from Pressure BioSciences and four other companies at the event in New York City on Wednesday.
Richard Schumacher, president and CEO of South Easton, Massachusetts-based Pressure BioSciences, told the conference that the company’s nano-scale emulsion system has significant potential for suppliers of cannabidiol (CBD) oils.
The company’s Ultra Shear technology applies pressure to oils to break them down into nano-droplets, making it easier for the oils to mix with water.
“Oil and water do mix if you have the right technology,” Bradford Young, senior vice president and chief commercial officer, told the conference.
Earlier this week, the company announced that it’s working with NutraFuels Inc (OTCQB:NTFU) to advance the development of nutraceuticals products based on its technology.
Making a difference
Alchemist Inc (NSE:AMS) CEO Paul Mann told the conference of proprietary software making it easier for cannabis companies to attain regulatory clearance, adding that the company began generating revenue in January.
“Getting before the planning board of the cities and working with the states – that’s the difference,” Mann told the conference. He started in his role last year as the Vancouver-based company that shifted from mining.
Jim Fickenscher, chief financial officer of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE), cited progress in its clinical trials of a cannabidiol (CBD) gel for treatment of anxiety in young patients with autism or autism-related disorders.
“The hope is that data from the clinical trial is strong enough for a doctor to prescribe the drug," Fickenscher said.
In November, the Devon, Pennsylvania, company reported cash and cash equivalent position as of September 30 of $66.2 million, which it said was sufficient to fund operations and capital requirements into the first half of 2020.
The company now has almost $60 million in cash, Fickenscher told the Proactive Investors conference.
Eyeing cannabis industry
Cameron Chell, chairman of ICOX Innovations Inc (CVE: ICOX) (OTCMKTS:ICOX), said the blockchain and digital payment company is well-positioned to enter the cannabis industry as US marijuana laws evolve at the federal level.
This week the Los Angeles-based company announced FreedomCoin, a regulatory-compliant currency that will allow users of GunBroker.com, an online marketplace with more than 4.7 million customers, to pay for purchases using a digital wallet.
Pharmalogyx CEO Colte Koen and Chief Operating Officer Jeffrey McPhee told the conference of the privately held company’s progress in adapting its expertise in hops farming for cannabis production.
The company is looking to raise $18 million in capital to ramp up production at its 700-acre CBD hemp farm in Nevada.
“We are taking 174 years of evolved technologies from the hops industry and bringing them to the hemp space,” Koen said.
Contact Dennis Fitzgerald at [email protected]