For a person to be sexually healthy, their physical, mental, and social requirements and wants in relation to sexuality need to be met.
As the importance of sexual wellness becomes better understood, there is a growing demand for sexual wellness products to help consumers achieve sexual wellness as part of their broader physical and mental health.
Currently valued at $77 billion, the sexual wellness market is expected to soar in value over the coming years to reach US$112 billion by 2030 at a compound annual growth rate of 4.55% during the forecast period, according to a new research report by Market Research Future.
Love Pharma Inc (CSE:LUV) is bringing to market innovative products to help meet this growing demand and improve the quality of everyday life.
With a focus on proven and prospective disruptive technologies, the Vancouver-based company is targeting sexual and mental wellness through its science-backed nutraceuticals and therapeutics.
READ: Love Pharma says Naltrexone demonstrates 'promising' long COVID application; completes Doc Hygiene acquisition
Love Pharma is also delivering sponsored research trials in partnership with researchers at Johns Hopkins University in Maryland targeting the addiction space with psychedelics and other novel therapies, with the goal of growing its pharmaceutical presence in the underserved addiction treatment market.
In an August 2022 letter to shareholders, Love Pharma CEO Zach Stadnyk said the company’s existing over-the-counter product portfolio was on the leading edge of innovation and advancing rapidly.
“In this time of challenging markets, Love has been extraordinarily successful in raising over $2 million, demonstrating investor confidence in our leadership team and the company’s portfolio, partnerships, and strategic focus on pharmaceutical-based addiction treatments,” Stadnyk wrote in the letter.
Launch of proprietary eCommerce platform
With six exclusive licenses to its name, Love Pharma is able to produce, market, package, sell, and distribute its patent-protected mental health and sexual wellness products throughout Europe, North America, and the United Kingdom.
In September 2022, the company launched the Love Pharma online shop, a fully integrated eCommerce platform where its over-the-counter consumer therapeutics, including its proprietary BLOOM and Auralief products, are available to purchase.
BLOOM is a topical clitoral stimulation gel that enhances blood circulation, improving lubrication and sensitivity to heighten sensations.
Auralief is a fast-acting hemp-infused oral strip that delivers 20 milligrams of CBD when dissolved under the tongue, offering users temporary relief from pain, anxiety, stress, and inflammation in as little as 15 minutes, according to Love Pharma.
READ: Love Pharma says subsidiary MicroDoz Therapy’s sponsored trial at Johns Hopkins University on track for 2022 launch
After an initial soft-launch phase focused on direct-to-consumer sales, supported by social media and digital marketing campaigns, the company plans to build on its success with the addition of B2B clients where larger sales volumes are anticipated in the long term.
Love Pharma has further strengthened its portfolio of consumer over-the-counter therapeutics with its acquisition of Doc Hygiene Pharmaceuticals Inc in August 2022. The company said its view of the acquisition is that it is accretive, building value for shareholders by combining Doc Hygiene’s trusted line of personal sanitizer products with the company’s growing line of science-backed nutraceutical and psychedelic products.
Addressing the underserved addiction treatment market
Through its wholly-owned subsidiary MicroDoz Therapy Inc, Love Pharma is working to identify and assess biotechnology and pharmaceutical solutions to address addiction.
MicroDoz has sponsored an upcoming trial at the Johns Hopkins Center for Psychedelic and Consciousness Research which will evaluate the effectiveness of psilocybin in treating cannabis use disorder in 12 patients. It is expected the trial will launch in 2022, according to a Love Pharma update in October.
“This research initiative aligns with key principles in Love Pharma’s strategy as it aims to develop innovative products that establish new consumer applications, based upon science and efficacy,” Stadnyk noted in the August investor update.
“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.”
Additionally, in October 2022, the company boosted its addiction treatment portfolio with the acquisition of Naltrexone Therapeutics Inc, a pharmaceutical technology company with significant intellectual property related to the transdermal delivery of the Food and Drug Administration (FDA)-approved opioid antagonist drug Naltrexone.
Expanding into the US and other international markets
Looking ahead, Love Pharma said in its August 2022 shareholder update that it was in the advanced stages of attaining an OTC listing in the United States, which will broaden its reach and establish and strengthen its shareholder base.
“Historically, the USA provides a sophisticated pharmaceutical biotech investor base, allowing Love to grow awareness outside of Canada and other international markets,” Stadnyk wrote.
“Moving forward, the company will build on its assets and newly acquired eCommerce platforms, leveraging the knowledge base being developed through its research partners at Johns Hopkins and identifying and targeting acquisitions within the pharmaceutical treatment for addiction space.”
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie