VANCOUVER, May 21, 2019 /CNW/ - Ovation Science Inc. (CSE: OVAT) ("Ovation" or the "Company"), a product development company with a patented skin delivery technology and twenty-plus years of skincare research and development, today announced the completion of its second cannabidiol ("CBD") product line Invibe MD. Invibe MD is a "health and wellness" product line infused with hemp-derived CBD and delivered by Ovation's patented skin delivery technology. This new product line follows our recent announcement regarding the Company's anti-aging skincare product line ARLO CBD Beauty.
"We are excited to have two CBD product lines about to enter the US marketplace; ARLO CBD Beauty; our anti-aging skincare line and Invibe MD; our new CBD product line focused on health and wellness," said Terry Howlett, President of Ovation. "Our product lines have the tagline "Better with CBD" because that is the ultimate goal for our consumer; they want to look and feel better. Independent reports suggest that consumers are seeking alternative health and wellness solutions and many are turning towards CBD as it has shown to be a highly effective option. Global research is growing on the use of CBD especially for consumers dealing with multiple health issues; be it a skin problem, sleep issues or aches and pains (Source: Projectcbd.org). Invibe MD will begin with three products: Troubled Skin, Keep Fit Sports Relief and R&R (Rest & Relaxation). Our product line has additional products that have completed development and will be launched at a later time."
- Our Invibe MD wellness creams have been developed using Invisicare® drug delivery technology; a technology with over twenty years of research and development in the pharmaceutical industry; specifically dermatology and is patented in eleven countries;
- The Invibe MD products are enhanced with hemp-derived CBD to provide the maximum effect;
- CBD has many benefits when used topically and without the potential side-effects of smoking, vaping or edibles;
- CBD is non-psychoactive and does not contain THC so it does not get you high;
- All Ovation products are thoroughly tested to ensure product stability and to validate that they deliver the stated amount of high quality CBD.
There are many benefits to using a topically applied CBD product compared to other methods of delivery. Using products like ARLO CBD Beauty or Invibe MD allows the user to apply the cream or lotion directly on the area affected. The CBD is absorbed into the skin and since it does not have to be digested like oils or edibles, the products work quickly and effectively, focusing right on the area where it is needed. With the global medicated skin care market predicted to reach US$8.0 billion by 2022 (Source: Research and Markets - Medicated Skin Care Products - Global Strategic Business Report) and the global topical pain market, which reached $7.48 billion in 2017 and forecasted to reach $13.28 billion by 2025 (Source: Allied Market Research - Global Topical Pain Relief Market), Ovation Science is ideally positioned to disrupt these markets with highly effective products that will help consumers be "Better with CBD".
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 cannabis and hemp formulations made with patented Invisicare® skin delivery technology. The technology enhances the delivery of cannabinoids such as cannabidiol (CBD) and tetrahydrocannabinol (THC) 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 cannabis products incorporating CBD, THC and combination products along with a line of anti-aging / beauty products made with CBD. Ovation's business model is to develop and market its two product lines ARLO CBD Beauty and Invibe MD as well as continuing to out-license its topical and transdermal formulations to cannabis companies globally. Ovation formulated CBD and THC products are marketed in Nevada in state-approved dispensaries by our US licensee with additional states being added this quarter. Ovation earns revenues from licensing and development fees, royalties, the sale of Invisicare to its licensees and now revenue from its own product sales. Ovation trades on the CSE under the symbol OVAT. Visit our website www.ovationscience.com.
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. They are not guarantees of future performance. 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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Ovation Science Inc.
For further information: FOR INVESTOR RELATIONS: Dave Ryan, [email protected], Phone: 604-283-0903 ext. 2; FOR BUSINESS DEVELOPMENT & CORPORATE INQUIRIES: Doreen McMorran, [email protected], Phone: 604.283.0903 ext. 4