Puration Announces Agreement With Generex Biotechn
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Posted On: 11/26/2018 8:39:12 AM
Puration Announces Agreement With Generex Biotechnology to Develop and Produce CBD HydroHealth High Alkaline Health Water
DALLAS, November 26, 2018 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) today announced an agreement with Generex Biotechnology Corporation (OTCQB: GNBT) to develop and produce NuGenerex CBD HydroHealth High Alkaline Water. The CBD used in the NuGenerex CBD HydroHealth product line will be exclusively derived from industrial hemp using a patented extraction process that yields ultra-purified and characterized CBD formulations. The agreement is anticipated to add over $1 million in new product sales in 2019 for Puration separate from the ongoing existing product sales that have generated approximately $1 million in reported trailing twelve-month revenue.
Generex plans to build on Puration's track record in developing and marketing a successful line of CBD infused drinks in the sports nutrition market. Under the terms of the agreement, Puration will refine its patented extraction process to develop proprietary CBD formulations for NuGenerex CBD HydroHealth Water, which will be sold as therapeutic supplements for health maintenance in conditions in which CBD therapy has shown promise including, arthritis, epilepsy, chronic pain, generalized anxiety, diabetes, and cancer. The FDA has already approved a formulation of CBD called Epidiolex for childhood epilepsy. Generex CBD HydroHealth Water is the first of a planned product line of NuGenerex CBD therapies, from alkaline water formulations to salves and creams for pain management that will be marketed through our wholly-owned subsidiary NuGenerex Distribution Solutions. The agreement with Puration is an initial step in the development of a larger and more comprehensive strategy where Generex is exploring the possible acquisition of US Cannabis Health, a joint venture company that includes Puration's participation with other innovators in the pursuit of developing new cannabinoid therapies.
"In anticipation of the agreement announced today with Generex, we have already been working on new CBD extracts to support Generex's therapeutic objectives," said Brian Shibley, CEO of Puraiton, Inc. "With our US Cannabis Health partners, we are confident in the potential of the new extracts to meet and exceed Generex's expectations. We are honored to be engaged by a company the caliber of Generex on this exciting project."
"Subject to testing and corresponding regulatory approvals, we're targeting a million-bottle launch of Generex CBD HydroHealth Water in 2019," said Joseph Moscato, Generex President & Chief Executive Officer. "Given the network of pharmacies Generex owns itself, we are confident we can achieve if not exceed our million-bottle launch target. Puration's experience and the caliber of Puration's underlying extraction technology combined with the recently updated production facilities of Puration's co-packer, are instrumental in Generex's plan to rapidly launch NuGenerex CBD HydroHealth Water."
"We are especially excited about Puration's patented extraction technology that enables us to explicitly define and characterize the CBD and cannabinoid content of hemp extracts to develop proprietary, patented formulations for NuGenerex," said Jason Terrell, MD, Chief Medical and Scientific Officer of Generex. "Through NuGenerex Distribution Solutions, we have the consumer connections, technology, and HIPAA compliant systems that will enable us to compile real world evidence on the safety and effectiveness of our NuGenerex CBD products for health maintenance in a variety of chronic conditions."
About Puration, Inc.
Puration, Inc. is a leading Texas-based, CBD-infused beverage provider. The Company's flagship product, EVERx, which was introduced in 2017, targets the sports nutrition market. Puration plans to introduce new beverages organically in addition to making targeted acquisitions.
DALLAS, November 26, 2018 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) today announced an agreement with Generex Biotechnology Corporation (OTCQB: GNBT) to develop and produce NuGenerex CBD HydroHealth High Alkaline Water. The CBD used in the NuGenerex CBD HydroHealth product line will be exclusively derived from industrial hemp using a patented extraction process that yields ultra-purified and characterized CBD formulations. The agreement is anticipated to add over $1 million in new product sales in 2019 for Puration separate from the ongoing existing product sales that have generated approximately $1 million in reported trailing twelve-month revenue.
Generex plans to build on Puration's track record in developing and marketing a successful line of CBD infused drinks in the sports nutrition market. Under the terms of the agreement, Puration will refine its patented extraction process to develop proprietary CBD formulations for NuGenerex CBD HydroHealth Water, which will be sold as therapeutic supplements for health maintenance in conditions in which CBD therapy has shown promise including, arthritis, epilepsy, chronic pain, generalized anxiety, diabetes, and cancer. The FDA has already approved a formulation of CBD called Epidiolex for childhood epilepsy. Generex CBD HydroHealth Water is the first of a planned product line of NuGenerex CBD therapies, from alkaline water formulations to salves and creams for pain management that will be marketed through our wholly-owned subsidiary NuGenerex Distribution Solutions. The agreement with Puration is an initial step in the development of a larger and more comprehensive strategy where Generex is exploring the possible acquisition of US Cannabis Health, a joint venture company that includes Puration's participation with other innovators in the pursuit of developing new cannabinoid therapies.
"In anticipation of the agreement announced today with Generex, we have already been working on new CBD extracts to support Generex's therapeutic objectives," said Brian Shibley, CEO of Puraiton, Inc. "With our US Cannabis Health partners, we are confident in the potential of the new extracts to meet and exceed Generex's expectations. We are honored to be engaged by a company the caliber of Generex on this exciting project."
"Subject to testing and corresponding regulatory approvals, we're targeting a million-bottle launch of Generex CBD HydroHealth Water in 2019," said Joseph Moscato, Generex President & Chief Executive Officer. "Given the network of pharmacies Generex owns itself, we are confident we can achieve if not exceed our million-bottle launch target. Puration's experience and the caliber of Puration's underlying extraction technology combined with the recently updated production facilities of Puration's co-packer, are instrumental in Generex's plan to rapidly launch NuGenerex CBD HydroHealth Water."
"We are especially excited about Puration's patented extraction technology that enables us to explicitly define and characterize the CBD and cannabinoid content of hemp extracts to develop proprietary, patented formulations for NuGenerex," said Jason Terrell, MD, Chief Medical and Scientific Officer of Generex. "Through NuGenerex Distribution Solutions, we have the consumer connections, technology, and HIPAA compliant systems that will enable us to compile real world evidence on the safety and effectiveness of our NuGenerex CBD products for health maintenance in a variety of chronic conditions."
About Puration, Inc.
Puration, Inc. is a leading Texas-based, CBD-infused beverage provider. The Company's flagship product, EVERx, which was introduced in 2017, targets the sports nutrition market. Puration plans to introduce new beverages organically in addition to making targeted acquisitions.
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