VANCOUVER, BC and LAS VEGAS, April 13, 2021 /PRNewswire/ - (CSE: OVAT) (OTCQB: OVATF) – Ovation Science Inc. ("Ovation" or the "Company"), a topical and transdermal cannabis product development company with a patented skin delivery technology and backed by over twenty years of research and development, is pleased to provide this update on the ongoing research and development of its topical and transdermal cannabis products using its patented skin delivery technology Invisicare®.
Since its last update on product development, Ovation has continued to innovate with its topical and transdermal CBD and THC product formulations. Within the field of topical delivery, Ovation excels in delivering "more drug to and through the skin". Ovation leverages its patented Invisicare® technology to deliver superior cannabis and hemp products to the consumer. Using pharmaceutical techniques and protocols, Ovation ensures that each new product formulations goes through a succession of check and balances including verifying the strength of CBD and/or THC in each formula and production batch. Additionally, it conducts stability studies to ensure the longevity of the product and to ensure the CBD/THC remains in the product for an extended period of time once it hits the retail shelf. The Company also uses proprietary methods to test its products to ensure the CBD or THC actually releases from the formulation in addition to ensuring the product remains bound to the skin and resists wash-off or rub-off; just another benefit of Invisicare®. Particularly in Nevada, Ovation's formulations, sold by its licensee, has established a strong reputation with consumers and budtenders alike.
"Ovation Science has an established background in the research and development of topical products," said Terry Howlett, CEO of Ovation Science. "We understand the science behind delivering effective products; ones that consumers will buy over and over again." He added, "We now have over thirty products fully developed, including stability data. These product formulations cover both health / wellness and beauty. Our health and wellness products in particular have been developed to have many ratios of CBD to THC including 1:1, 1:2, 1:3, 1:10 and the reverse: 2:1, 3:1 and 10:1. These ratios have shown to have different therapeutic effects depending on the amount of CBD versus THC in the formulation. Not only do we believe our products are game changers in the topical cannabis industry; they are all protected by patents so no other company can duplicate our success."
Currently the Company has one licensee in Nevada who sells the Ovation formulations into the 60 plus dispensary market in Nevada. Ovation seeks to duplicate on Nevada's success by expanding its distribution in the other 37 US states presently approved to sell cannabis. To expedite this process the Company is seeking MSOs (multi-state operators) who are operating in several states to gain quicker access to the US market. The topical cannabis, particularly CBD is growing exponentially and is expected to reach $4.5 billion by 2025 according to a report by the Brightfield Group, a leading cannabis research company. This would signify an increase of 540% in just four years.
Ovation's stock trades in Canada on the CSE under the symbol OVAT at www.theCSE.com and is now trading in the US on the OTC Markets under the symbol OVATF and can be accessed on www.otcmarkets.com.
Statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
About Ovation Science Inc. Ovation Science Inc. is a research and development company that develops topical and transdermal consumer products including its CBD/THC cannabis formulations including ARLO CBD Beauty and InVibe® MD ("health & wellness" line), and secondly, its unique DermSafe® hand sanitizer; all made with its patented Invisicare® skin delivery technology. The technology enhances the delivery of ingredients to and through the skin and is protected by patents in eleven countries. With over twenty years of topical and transdermal drug delivery experience in the pharmaceutical market, Ovation's management and science team have created a unique pipeline of over twenty-five patent-protected medical / wellness topical and transdermal products along with a line of anti-aging / beauty formulas. Ovation earns revenues from licensing and development fees, royalties, the sale of Invisicare to its licensees along with revenue from its own product sales. Ovation has offices in Vancouver, BCCanada and Las Vegas, Nevada, USA. Ovation trades on the CSE under the symbol OVAT and in the USA on OTC Markets under the symbol OVATF. Visit our website www.ovationscience.com for more information.
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular there is no assurance of continued sales or expansion of distribution or that the Company will be successful developing, licensing or selling its products. There are no guarantees of future performance or changes to regulations. Ovation Science Inc. cautions that all forward looking statements are inherently uncertain and that actual results may be affected by a number of material factors, many of which are beyond Ovation Science Inc.'s control. Accordingly, readers should not place undue reliance on the forward-looking information. Ovation disclaims any obligation to revise or update any such forward-looking information to reflect future results, events or circumstances, except as required by law.
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