$PBIO Now equipped with an extensive intellectual property portfolio utilizing a proprietary pressure platform, nanotechnology and advanced delivery systems, the merged company plans to disrupt large, addressable markets, including the U.S. hemp-derived CBD market, which is anticipated to reach $23.7 billion by 2023. In addition, the merged company is targeting the international cosmetics market (projected at $758 billion by 2025), the global biopharmaceuticals market (expected to reach $389 billion by 2024), the global food & agriculture technology and products market (estimated at $729 billion by 2023), and the worldwide food and beverage market.
Dr. Ghalili described the vision and motivation behind the decision to merge Cannaworx into PBI: "We have worked for years to bring state-of-the-art effectiveness to the formulation of a diversity of human and veterinary products that were created to deliver oil-based nutrients and therapies into the water-based biology of humans and animals. Our plan to introduce a variety of important, health-promoting phytocannabinoid ingredients into these products multiplied the challenge of achieving water-solubility for these oil-based components. As we evaluated technologies for achieving effective nanoemulsion delivery of oil-based materials in water, we discovered that PBI's UST platform was in a class of its own, clearly out-performing all competing technologies evaluated. The opportunity to combine our capabilities, products, intellectual property, marketing and distribution channels, and proprietary methods with those of PBI was an astonishingly valuable opportunity to leverage and enable our product lines for real differentiation in our served markets and to help propel significant growth."
The binding letter of intent executed between the companies details the milestones that need to be met to complete the transaction, including the completion of all due diligence and acquisition financing.
https://www.barchart.com/story/stocks/quotes/...naworx-inc
Dr. Ghalili described the vision and motivation behind the decision to merge Cannaworx into PBI: "We have worked for years to bring state-of-the-art effectiveness to the formulation of a diversity of human and veterinary products that were created to deliver oil-based nutrients and therapies into the water-based biology of humans and animals. Our plan to introduce a variety of important, health-promoting phytocannabinoid ingredients into these products multiplied the challenge of achieving water-solubility for these oil-based components. As we evaluated technologies for achieving effective nanoemulsion delivery of oil-based materials in water, we discovered that PBI's UST platform was in a class of its own, clearly out-performing all competing technologies evaluated. The opportunity to combine our capabilities, products, intellectual property, marketing and distribution channels, and proprietary methods with those of PBI was an astonishingly valuable opportunity to leverage and enable our product lines for real differentiation in our served markets and to help propel significant growth."
The binding letter of intent executed between the companies details the milestones that need to be met to complete the transaction, including the completion of all due diligence and acquisition financing.
https://www.barchart.com/story/stocks/quotes/...naworx-inc
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