InnoCan Pharma Corporation (CSE:INNO) revealed Friday that it was in advanced negotiations with distributors in Switzerland, Germany, the UK, Hong Kong and the United States as the company announced positive findings from the first dermal clinical study of Relief & Go and Shir product lines.
The pharmaceutical tech group has developed several lines of skin cosmetic products containing a blend of highly concentrated ingredients formulated with CBD. It said it is eyeing first samples shipments in July this year.
READ: InnoCan Pharma inks deal securing CBD for its coronavirus treatment collaboration with Tel Aviv University and other R&D projects
"The double blinded randomized controlled study assessed the tolerance degree of the company's CBD Topicals products and demonstrated the products to be non-irritating to the skin," the firm said in a statement.
InnoCan's contract manufacturer for these products Fancystage is in an advanced production stage with InnoCan's first derma cosmetic products launch, it added.
"This clinical investigation was performed in accordance with the respective Clinical Investigation Plan (CIP) and was consistent with the main principles of ICH GCP, Helsinki declaration. The results of this study demonstrated the safety and skin tolerance of the InnoCan's CBD Derma Cosmetic Line of products," said Nir Avram, Innocan's chief technology officer (CTO).
"We've developed our products through our leading cannabinoid research labs in Israel," said Iris Bincovich, co-founder and CEO of InnoCan Pharma.
"We believe that our approach to manufacturing high quality products in a state-of-the-art facility that has all the necessary certifications will open us up to a multi billion EURO market."
Shares in Toronto advanced over 14% to C$0.16 each.
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