Pressure BioSciences Inc (OTCQB:PBIO) announced plans to change its name to Avalia Bio following its acquisitions of and merger with Cannaworx Inc and SkinScience Labs Inc.
The name change is meant to reflect the science-driven collaboration between the companies, which will operate as synergistic divisions utilizing Pressure Bio’s Ultra Shear Technology platform to bring new levels of bioavailability and performance to a suite of human, animal and agricultural products.
"PBI's UST platform offers the potential to deliver an extraordinary breakthrough in creating unique, high quality nanoemulsions of oil in water,” PBI CEO Richard Schumacher said in a statement. “A vast range of personal care and consumption products, including nutraceuticals, cosmetics, pharmaceuticals, food & beverages, all face the perplexing challenge of getting active oil-based nutrients or therapeutic ingredients to become easily absorbable and effective in the water-based biology of our bodies.”
READ: Pressure Biosciences boosted as it announces deal to acquire SkinScience Labs and award-winning products
Cannaworx and its principals have 12 products, including several that utilize the company’s patented and patent pending hemp-derived phytocannabinoid formations for pain relief.
The parties believe UST processing will increase the efficacy of Cannaworx products, reduce manufacturing costs, increase profits and distinguish its product lines.
"My co-founder in Cannaworx is [SkinScience Labs President] Dr Adrienne Denese, MD, Ph.D., the founder, innovator and spokesperson behind over $500M in Dr Denese SkinScience product line sales for the past 17 years on QVC,” Cannaworx President Bobby Ghalili said. “These skin care and anti-aging products are part of our planned rollup of companies under Availa Bio. In our rapidly expanding line of innovative human, veterinary and agricultural products, several of which incorporate phytocannabinoids from hemp oil, we are utilizing our own oral and topical proprietary bioavailability and absorption delivery technology.”
Over the next few months, the plan is to roll out two patented oral phytocannabinoid formulations for pain relief allowed under an FDA OTC monograph.
The combined Avalia Bio has an IP estate of 31 issued and a dozen or more pending patents, as well as an existing global base of hundreds of corporate and thousands of retail customers.
"My decades of development and marketing of skin care and anti-aging products that meet the scrutiny and demands of an extremely loyal following of consumers has always required us to be leaders in quality and performance, not just for results but in the entire product experience perceived by our users,” Denese said. “We quickly realized that the Ultra Sheer Technology platform offered the opportunity to improve not only the performance of our existing, highly-regarded formulations, but also to achieve new heights within the entire cosmetics industry."
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