LOS ALAMOS, N.M., Sept. 17, 2019 /CNW/ -- Trait Biosciences Inc., a leading biotechnology research organization providing innovative technology to the hemp and cannabis industry, today 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 innovative 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. Keith 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. Pete 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, Pete 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. Genève 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, Genève 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 leading global food and drink consulting firm, projects that the US market for cannabis-infused drinks will grow to $1.4 billion by 2024, an increase of almost fifteen times (15x) 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.
About Trait Biosciences
With a team of internationally recognized scientists who are applying best-in-class technology and agricultural science, Trait Biosciences is an emerging biotechnology leader in the hemp and cannabis industries. Its consumer technology platforms provide breakthrough IP and science which produce enhanced cannabinoids featuring predictable onset timing, superior bioavailability, extended stability, and improved taste. Trait's patent pending technologies include a process for generating water-soluble cannabinoids that does not rely on emulsion or nanotechnology. The company's agricultural technologies increase crop yields and plant safety, including ultrahigh yield Amplified™ plants which dramatically increase a plant's natural cannabinoid productivity, and its Defence™ RNAi crop protection technology, which eliminates the need for pesticides or fungicides, providing higher quality, safer, CBD-infused nutraceutical and pharmaceutical products.
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information as to Trait Bioscience Inc.'s (the "Corporation") strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "continue", "assess", "anticipate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions that, while considered reasonable by the Corporation as at the date of this press release in light of each of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information.
Any forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although management of the Corporation believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
SOURCE Trait Biosciences Inc.