Love Pharma (CSE:LUV) Inc is actively identifying and assessing biotechnology and pharmaceutical solutions to grow its pharmaceutical presence in the underserved addiction treatment market, its president and CEO Zach Stadnyk said.
"We welcome this opportunity to provide our shareholders with a comprehensive picture of Love's efforts in building upon its existing portfolio and establishing its future strategic imperatives,” Stadnyk said in a letter to shareholders.
“Building upon Love's existing product portfolio, which is primarily over the counter, the company's strategic imperative is aimed at positioning Love as a leader in the area of addiction treatment and recovery, within the pharmaceutical space," he added.
READ: Love Pharma completes first closing of non-brokered private placement for gross proceeds of $296,450
Outlining the progress of key holdings and its strategy for the future, Love said with regard to its research initiative with researchers at Johns Hopkins University, the study will officially kick off in the Fall. Love will provide updates as and when milestones are achieved.
“Assuming our relationship with the researchers is successful, it will allow the company to further develop its bond with the world-renowned institution and advance further clinical research initiatives,” it added.
Love previously announced that the research will study the efficacy of psilocybin-assisted treatment for cannabis use disorder (CUD) to establish consumer confidence and guide the development and use of psilocybin product development and related applications.
This research initiative aligns with key principles in Love Pharma (CSE:LUV)'s strategy as it aims to develop innovative products that establish new consumer applications, based upon science and efficacy. Pharmaceutical applications for addiction and recovery treatment are necessary and represent a growing market, including in the cannabis space, where the Johns Hopkins research initiative is focused, the company said.
The company cited data from the United Nations showing that 209 million marijuana users were reported globally in 2020, with the trend rising steadily since 2010. Three in 10 marijuana users have cannabis use disorder, equating to about 14.4 million Americans.
There are currently no FDA-approved medications for CUD, with current treatments, such as cognitive behavioral therapy, failing to maintain cannabis abstinence in patients, it added.
Bloom & Auralief
The company said COO Joshua Maurice has readied the company for the upcoming sales of Bloom, a topical female stimulation gel to enhance blood circulation, improve lubrication and heighten sensations, and Auralief, a patent-pending, fast-acting CBD oral strip to provide temporary relief from pain, anxiety, stress, and inflammation.
Some of the pre-sale initiatives include:
- initial product inventory is produced and ready for sale;
- e-commerce platforms have been completed and in the process of being activated;
- B2C sales are scheduled to commence in the coming weeks, pending final platform testing;
- the marketing plan is initially focused upon B2C, followed by the addition of B2B clients, where larger sales volume is anticipated long term; and
- a drop ship warehouse has been set up for fulfillment, delivering operational efficiencies and fixed shipping costs per unit.
Love said its online shop is in the final stages of development, and once completed, the robust sales platform will deliver a scalable, plug-and-play sales solution for the company's existing, and future product portfolio.
Doc Hygiene
Love's management team views the acquisition as accretive and builds value for shareholders by combining Doc Hygiene's trusted line of personal sanitizer products with Love's growing line of science-backed nutraceutical and psychedelic products.
Doc Hygiene is an established brand with strong intellectual property and a comprehensive e-commerce platform that Love will build upon to significantly expand the company's online sales.
Financing and market update
Love said it has been extraordinarily successful in raising over $2 million despite a challenging market environment. This demonstrates investor confidence in its leadership team and the company's portfolio, partnerships and strategic focus on pharmaceutical-based addiction treatments, it added.
Love is in the advanced stages to attain an OTC listing in the US, which will broaden the company's reach and establish a strengthened shareholder base. Historically, the US provides a sophisticated pharmaceutical and biotech investor base, which will allow Love to grow awareness outside of Canada and other international markets, it noted.
Moving forward, Love will build on its assets and newly acquired e-commerce platforms, leveraging the knowledge being developed through its research with Johns Hopkins, and identifying and targeting acquisitions within the pharmaceutical treatment for addiction space, the company added.
Love Pharma (CSE:LUV) holds exclusive licenses to produce market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America.
Contact the author at jon.hopkins@proactiveinvestors.com