Applied BioSciences Provides Corporate Update and 2019 Business Outlook
Key Management appointments, including Raymond W. Urbanski MD, PhD, former business unit Chief Medical Officer at Pfizer Inc., as Chief Executive Officer provides extensive industry leading expertise, strategic focus and discipline on the execution of corporate initiatives
Purposefully built strategic business units focused on leveraging science-driven cannabinoid research to address areas of significant unmet needs and access growing markets
Multiple expected near-term value driving milestones
BEVERLY HILLS, CA / ACCESSWIRE / July 30, 2019 / Applied BioSciences Corp. (OTCQB: APPB) ("Applied" or the "Company"), a vertically integrated company focused on the development of science-driven cannabinoid biopharmaceuticals and the production of high-quality CBD products, today provided a corporate update and business outlook for the remainder of 2019.
- Renewed strategy focused on leveraging endocannabinoid system to develop high-value products across three separate business units, including:
- Biopharmaceuticals: goal to develop novel therapeutics to treat serious diseases across a range of therapeutic areas, including metabolic, peripheral neuropathy and progressive lung disease
- CBD Products: multiple brands offering high-quality CBD products to the highest regulatory standards;
- Bolstered leadership team with highly qualified individuals including Raymond W. Urbanski MD, PhD, as Chief Executive Officer, former business unit Chief Medical Officer at Pfizer Inc. and well-established industry leading expert with over 20 years of experience in clinical development, research and pharmaceutical industry expertise across oncology, cardiology, endocrinology, and immunology;
- Appointed Martin Schroeder to the Scientific Advisory Board and as President of Applied BioPharma. Mr. Schroeder has over 30 years of experience in the pharmaceutical and biotech industries and has helped many biotech and pharmaceutical companies conduct search and evaluation of compounds and molecules;
- Launched multiple new products and expanded into the Beverage and Health / Wellness category with Remedi Spa and Remedi Beverage and Shot;
- Commenced discussions regarding proposed scientific trials with two leading Universities specializing in Veterinary Medicine;
- Announced the acquisition of Trace Analytics with over 65 years of combined experience in the global testing market for Cannabis and Hemp;
- Partnered with Boxing Heavyweight Champion, Shannon “The Cannon” Briggs to launch Champ Organics, an athlete-focused cannabidiol (“CBD”) based health and wellness supplements product line that enhances training and recovery; and
- Launched robust business development initiative to build biopharmaceuticals pipeline.
“Over the course of my academic and pharmaceutical career, I have developed a keen interest in the benefits of cannabinoids and their ability to address a wide range of disease states. I saw a great deal of potential in Applied’s science-based approach to the endocannabinoid system, which ultimately drove me to join at what I believe is a pivotal time in the Company’s history. Now with the right team in place and a renewed focus on our corporate and clinical strategies, I believe we have the potential to drive value for all stakeholders and impact areas of significant unmet need in established and rapidly growing markets,” commented Dr. Raymond Urbanski, Chief Executive Officer. “As we look towards the rest of 2019, we remain focused on the critical importance of taking the necessary steps to build a solid foundation from which we can launch future expansion and growth. With all our strategic approaches in place, we believe we are well-positioned to unlock the full potential of Applied BioSciences.”
The Applied BioPharma business unit is focused on the development and commercialization of novel therapeutics to treat serious diseases by leveraging industry leading pipeline of endocannabinoid system-targeted drug candidates.
The Company is actively seeking in-license opportunities with the goal of developing an industry leading pipeline of endocannabinoid system-targeted drug candidates that address significant unmet needs across a wide range of therapeutic areas. The Applied management team expects to announce at least one in-licensing agreement before year end.
The Applied Products business unit currently consists of eight different brands of hemp-derived, THC-free, pharmaceutical grade CBD isolates and distribution products, all of which ship to the majority of U.S., as well as to multiple non-US countries. The Company’s portfolio currently includes consumer, animal health, women’s health and sports medicine products.
Applied Products operates under a differentiated approach to quality and regulatory practices within the industry, which it believes well-positions them to be leaders in the market and access the significant opportunity for revenue generation. All CBD products utilize the most proven and effective production methods to ensure the highest quality output. The Company’s Full Spectrum products are made using CO2 Extraction, which allows for the proper retention of cannabinoids and terpenes vs a distillate, and a winterization process. Applied’s THC Free products are CBD Isolate infused. This isolation process leaves behind pure pharmaceutical grade CBD only, ensuring the highest quality is achieved. Additionally, the Company’s Nano CBD Isolate products use a specialized Nano-Particulizer, a process which creates a pure nano-molecule.
“The CBD industry continues to be of great interest among the medical and investment community. We have seen rapid growth and continue to witness advancements in the space, however current products on the market are not high quality or are not actually what the label claims them to be. Our team sees room for significant improvement and believe we have a competitive advantage by offering high-quality products through our differentiated approach,” said Scott Stevens, Founder and Chairman of the Board.
Trace Analytics, Inc.
Trace Analytics Inc., a majority owned subsidiary of Applied, is a leading cannabis science and technology company with significant footprints in lab testing, research and development and licensing. Trace Analytics was started by a group of scientists who specialized in analytical chemistry, genetics and molecular biology. The focus of the team is to ensure compliance with public safety standards and end user safety. Trace Analytics is in the process of expanding throughout the United States, and globally. With the goal of helping the rest of the world adopt "best practices" in cannabis and hemp testing, the company also provides expert consulting services to legislators and regulators in many countries, states and municipalities around the world.
The Company is actively establishing a global medical and consumer platform and multiple brands through creating a platform to partner and invest in various segments in the consumer industry and establish key exclusive strategic alliances which serve to accomplish the task of becoming the market leader. For more information, please visit: http://traceanalytics.com
Upcoming Milestones Expected to Drive Value
- In-license product candidates to build robust pipeline for the Applied BioPharma division;
- Explore strategic options for non-dilutive funding with Trace Analytics;
- Successfully execute overall strategy of the Company and Business Development efforts;
- Engage with key stakeholders in the investment community and execute on the robust effort to raise awareness of the Company; and
- Uplist to a National Exchange.
Dr. Urbanski concluded, “Our priority moving forward is to successfully execute our corporate strategy. We continue to make significant steps to raise the awareness of the Company with multiple stakeholders in the investment community as well as a number of strategic partners. Additionally, we have embarked on a formalized investor relations and corporate communications strategy to continue building off the momentum and firmly believe this will provide us with the opportunity to enhance the profile of Applied BioSciences and ultimately position us to uplist to a National Exchange. We look forward to continue providing you with updates as we execute our strategies in place.”
About Applied BioSciences Corp.
Applied BioSciences is a vertically integrated company focused on the development of science-driven cannabinoid therapeutics / biopharmaceuticals and delivering high-quality CBD products as well as state-of-the-art testing and analytics capabilities to our customers.
Applied BioSciences is focused on, testing and analytics, consumer and OTC brands, and partnership opportunities in the medical, health and wellness, and nutraceuticals.
The Company has several strategic partnerships currently in place and is actively pursuing additional partnerships and other strategic growth opportunities. For more information, visit the Company’s website.
Safe Harbor Statement
Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Applied Biosciences Corp. (the “Company”) or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company’s ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Applied BioSciences Corp.
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Released July 30, 2019