Federal Approval Marks First Mover Status into a US $30 Billion Market
VANCOUVER, May 28, 2018 /CNW/ - Phivida Holdings Inc. ("Phivida" or the "Company") publicly traded as "VIDA:CSE" or "PHVAF:OTCMKTS" reports the activation of distribution agreements with Asayake Inc. ("Asayake") in Japan.
The inaugural import shipment was sent in advance of a national market roll-out. Asayake Inc. CEO, Mr. Kazuhiko, states, "We are excited to distribute Phivida's CBD-Hemp Oil products in Japan. Federal government approval of cannabidiol [CBD] products is very uncommon and is a testament to Phivida's quality standards."
Prior to approval, a rigorous audit was completed by the Ministry of Health and Welfare's National Institute of Health and Nutrition in Tokyo. Compliance required; security checks, Department of Agriculture permits, cGMP certifications, FDA registrations and Certificates of Analysis (COAs) from third-party testing laboratories, etc.
Phivida's internal quality assurance standards exceed Health Canada requirements for food safety. Phivida tests every product for; potency (<0.3% THC), terpenes, microbials, heavy metals, pesticides and residual solvents.
President and Chairman, John Belfontaine states; "we are honoured to have been selected as one of the first federally approved CBD infused food and supplement brands in Japan. With first mover-status achieved, Phivida now markets to an underserved yet highly informed population of 127 million patients and practitioners."
Herbal remedies and plant-based nutraceuticals are used widely by licensed clinicians in Japan and are engrained in popular culture through the ancient traditions of Kampo and the teachings of Shinto Buddhism.
The supplement market in Japan is estimated at US $10 billion and the overall functional foods market at US $21 billion.i The global Anti-Inflammatory Therapeutics Market is projected to reach US $106 billion by 2020, with a CAGR of 5.9%.ii The Asia-Pacific region is the fastest growing market for natural plant-based supplements.
Phivida now plans to prepare a formal application to Japan's Consumer Affairs Agency (CAA) to register Phivida's CBD infused functional food and beverage products for approval under the Food with Functional Claims (FFC) regime. The FFC allows companies to market health benefits (aka "functionality). The functional beverage market in Japan is estimated at US $10.36 billion with a CAGR of 2.5% (2015 – 2025).iii
Phivida Holdings Inc.
Phivida ["fiii-vee-daa"] is a premiere brand of cannabidiol ("CBD") infused functional foods, beverages and clinical health products, poised for global distribution. Using encapsulation technology, Phivida converts cannabinoid oils and extracts into water soluble delivery, enhancing bioavailability, and timed released within the body. Phivida's encapsulated CBD is infused into CBD beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain to terminal diseases. The World Anti-Doping Association's recently lifted a ban of CBD from hemp oil and the World Health Organization's recent statement supports clinical benefits of CBD for athletes and active families. Celebrating; Health and Wellness, In Harmony™, Phivida's mission is to lead the alternative health care sector as the benchmark quality standard in premium cannabinoid infused foods, beverages and clinical products, with a dedication to research, education and investing back into the communities which we so proudly serve. Phivida is listed on the Canadian Securities Exchange under the ticker symbol "VIDA". Visit www.phivida.com or join our social media network @Phivida. For investor information and inquiries please email us at [email protected].