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EVIO Inc. (OTC: EVIO) is happy to announce that’s has entered right into a Letter of Intent to amass Main Edge Pharms, Inc. (LEP) of Henderson, Nevada. LEP is a biotechnology firm centered on the analysis, growth, and commercialization of novel cannabinoid therapies and modern drug supply methods that present secure and efficient topical options for ache administration.
LEP affords proprietary formulations and a non-systemic supply system to reinforce the permeation and aid course of for topically delivered medicine to broken pores and skin, muscle, joint, and nerve tissue.
LEP has formulated a line of merchandise together with CANNAVERA™, a household of topical ache aid merchandise at the moment pending for over-the-counter (OTC) registration with the FDA. The corporate has a number of different merchandise and trademarked manufacturers in late phases of growth, together with cosmetics, female care, pet well being and wellness, and dental and oral care merchandise. All merchandise are manufactured in an FDA-registered facility and comply with Present Good Manufacturing Follow (CGMP) pointers. All substances are licensed pure and secure.
Phrases of the acquisition embrace EVIO performing detailed due diligence, together with technical overview and testing of the corporate’s merchandise and strategies. Pending regulatory overview and shareholder approval, EVIO will authorize extra shares to assist the acquisition. EVIO will even add no less than two board members and govt positions from LEP, and EVIO will launch its audited financials.
Lori Glauser, interim CEO, says, “Whereas EVIO continues to function within the testing area, we now have been looking out for complimentary companies that align with our mission and likewise strengthen our portfolio. Main Edge Pharms affords a longtime product line with confirmed efficacy that gives larger margins and entrance into the buyer market. I’m additionally happy to associate with a robust workforce of skilled executives who will assist elevate EVIO to the following degree.”
Strategic Deal Highlights:
The LEP acquisition is predicted to offer quite a few strategic and monetary advantages that may additional EVIO’s aim of changing into a number one producer of CBD client packaged items. The acquisition guarantees to reinforce our world-class analysis and growth workforce, distribution community, and product providing, together with:
- Entry to the most important cannabinoid market on this planet, with fast entry into the U.S. CBD market—at the moment estimated at almost $6 billion and anticipated to develop at a compound annual development fee (CAGR) of 21.2% from 2021 to 2028. With publicity to the U.S. CBD market by means of the LEP acquisition, EVIO will develop additional by actively pursuing complementary enterprise traces and offering a pathway to enter the hemp-based cannabinoid authorized market.
- Strengthened management, through the addition of a extremely skilled administration workforce with confirmed monitor information in pharmaceutical analysis and growth, client packaged items, e-commerce, and advertising and marketing. Moreover, the LEP workforce brings enhanced experience in producing and distributing prime quality cannabinoid-based well being and wellness merchandise. EVIO’s and LEP’s shared dedication to formulating and manufacturing best-in-class modern merchandise shall be bolstered by IP-sharing, continued high quality management, stability, and enhanced testing protocols throughout all platforms within the U.S.
- Plans to introduce LEP’s formulations to the Canadian market, which is predicted to drive market share within the well being and wellness vertical the place EVIO intends to be a market chief.
Mark Watson, president of LEP, says, “Innovation, high quality, and buyer centricity have at all times been core pillars of Main Edge Pharms’ technique since our founding 5 years in the past. In EVIO, we discovered a associate that has years of technical experience in a number of jurisdictions, together with product formulation, cannabinoid science, product high quality assessments, and regulatory compliance important to our subsequent stage of development. We stay up for becoming a member of the EVIO household and empowering much more folks to reside more healthy lives. We’re deeply grateful to our founding workforce for getting us to this stage.”