TerrAscend Completes Acquisition of Ilera Healthcare

TerrAscend Completes Acquisition of Ilera Healthcare

LOS ALAMOS, NM, September 17  2019 / – PRESS RELEASE – Trait Biosciences Inc., a biotechnology research organization providing technology to the hemp and cannabis industry, has announced the formation of its Strategic Advisory Board. The new board is composed of accomplished leaders in the consumer product industries, which are influencing the development of the emerging cannabidiol-infused products segment. The board will provide insights to Trait as it continues to advance the science and solutions supporting the rapidly growing cannabidiol (CBD) market.

“The Trait mission is to develop technologies that make sure consumers will have a safe, reliable, enjoyable, and predictable experience each time they use a CBD, hemp, or cannabis product,” said Peter McDonough, chief executive officer of Trait. “Assembling outstanding global consumer product leaders with proven experience in building global brands in organizations such as Mars Wrigley, KIND Snacks, Bacardi, The Coca-Cola Company and Diageo increases our ability to develop breakthrough solutions for the expanding consumer interest in CBD-infused edibles and beverages.”

The appointments to the Advisory Board include:

Keith Levy. Levy is an accomplished CPG executive with a career spanning more than three decades. As president of the Mars Wrigley’s Global Business Development division, he led the multi-billion dollar strategic investment in KIND Snacks. Prior to this, he served as president of Royal Canin USA, a leading global manufacturer of premium dog and cat nutrition. Earlier in his career, he served as Anheuser-Busch chief marketing officer with responsibility for the largest portfolio of beer brands in North America.

Pete Carr. Carr currently serves as president of Bacardi North America, the world’s largest privately held spirits company. He is a proven leader in driving business performance in industry leading companies within the spirits, beer, wine and non-alcoholic beverage industries. Prior to joining Bacardi as North American President, Carr was executive vice president for Glazer’s Distributors, one of the country’s largest distributors of wine, spirits and malt beverages. Earlier in his career, he held various senior management roles with Diageo including president of U.S. Spirits, president of Guinness (DGUSA) and previous leadership roles within the energy drinks and wine industries.

Genève Stewart. Stewart currently serves as vice president of the Natural Strategic Sales Team at The Coca-Cola Company. She is responsible for leading the sales of new venture and incubation brands along with numerous Coca-Cola brands in the natural channel including: Honest Tea, Simply Juices, ZICO Coconut Water, Topo Chico and other wellness-positioned beverages. Prior to joining The Coca-Cola Company, Stewart was with sweetriot, where she served as catalyst of Cool Markets. Earlier in her career, she worked in commercial roles within the pharmaceutical industry at Bausch + Lomb and Ventiv Health.

Trait Distilled: Water-Soluble Cannabinoid Breakthrough

In June this year, Trait unveiled Trait Distilled, a suite of truly water-soluble cannabinoids that do not rely on nanotechnology or emulsions,  produced at commercial scale for a broad base of CBD products including health foods, beverages and nutraceuticals. Trait Distilled cannabinoids are tasteless, odorless, fully soluble in water, shelf stable and have higher bioavailability than fat-soluble cannabinoids.

In addition, Trait recently announced the first successfully transformed hemp plants that are producing four times the amount of CBD as conventional hemp plants. “We’re focused on developing technology that provides our partners with a cost-effective approach to deliver premium quality cannabinoids for use in pharmaceutical applications, beverages, health and wellness, topical ointments, and a broad range of novel CBD products,” said McDonough.

Analysts from Brightfield Group estimate the U.S. CBD market will grow more than 700 percent from today’s market to reach nearly $24 billion by 2023.

Cannabis-Infused Drink Market Expected to Increase 15-Fold

A recent report by Zenith Global, a global food and drink consulting firm, projects that the U.S. market for cannabis-infused drinks will grow to $1.4 billion by 2024, an increase of almost 15 times from 2018 sales of $89 million. New methods of CBD infusion will transform the beverages market.

Presently, many manufacturers are utilizing nano-emulsion processes to infuse cannabinoids into novel  edible products and beverages. However, there is growing concern that these fat-soluble CBD nanoparticles are prone to accumulate in organs, causing health concerns. Trait’s revolutionary technology surrounding the production of  truly  water-soluble CBDs has been an industry breakthrough of increasing importance to the development of CBD product development.

Despite the current lack of clarity surrounding numerous legislative and regulatory issues, there is strong speculation that CBD-infused beverages are poised to become a new consumer market creating massive economic growth. The introduction of new scientific advancements ensuring consistent product quality will continue to unlock the enormous potential of the CBD market, potentially disrupting the entire beverage industry.

Published at Tue, 17 Sep 2019 17:26:00 +0000

Leave a Reply

Your email address will not be published. Required fields are marked *