Trait Bio advances innovative water-soluble cannabinoid technology and prepares for the commercial launch in 2022 of a revolutionary water-soluble CBD extract; Appoints the vice-president of Science Tech

VANCOUVER, BC Trait Biosciences Inc., a leading cannabinoid biotechnology research organization, announced that it has successfully completed key scientific studies and operational milestones associated with its Series A funding, and said Dr Hanny Kanafani has been appointed to the newly created post of vice president of science and technology.

These accomplishments reflect Trait’s continued progress in advancing its proprietary technology and developing innovative solutions for formulating premium products in the rapidly growing market for CBD infused products.

“Trait’s mission to develop innovative cannabinoid technologies providing superior water soluble extracts will enable the formulation of better and safer CBD products. Said Peter McDonough, CEO of Trait. “We are proud of the progress our scientists have made in advancing our advanced technology over the past year and are delighted that Dr. Hanny Kanafani is joining the Trait leadership team. Dr. Kanafani is a recognized leader with valuable experience in helping Trait advance our technology for commercial applications over the coming year.

Today’s announcement follows the company’s recent appointment of company executive Auroni Majumdar of International Flavors and Fragrances to the Trait Advisory Board and the company’s announcement in June of a tour C $ 31 million Series A financing led by Btomorrow Ventures Limited (BTV), the corporate venture capital unit of British American Tobacco (BAT).

About Dr Hanny Kanafani

Dr Hanny Kanafani is an accomplished leader with over 30 years of experience in technology and product development with a PhD. in Microbiology and Food Sciences from the University of Illinois. During his impressive career, Dr Kanafani has held leadership positions in research and development in the packaged food, beverage and ingredient systems industries with companies such as Herbalife, PepsiCo, MeadJohnson and Pillsbury.

Dr Kanafani said: “I am delighted to join Trait and lead the development of its technology which will be essential in creating safe and high quality CBD products. Trait’s technology will represent a significant breakthrough in formulating a new generation of premium, innovative consumer CBD products in the years to come.

Trait Biosciences Achieves Milestones in its Cdn $ 31 Million Series A Funding.

In November, the company announced the completion of several milestones outlined in its Series A funding related to the development of its proprietary water-soluble cannabinoids. Milestones described numerous trials and research studies conducted by independent laboratories analyzing the solubility, stability, toxicity, and metabolism of its proprietary cannabinoids developed to serve as a superior functional ingredient in CBD infused products.

Trait Biosciences gears up to launch breakthrough water-soluble CBD extract in 2022

Currently, many manufacturers are using nanoemulsion processes to infuse cannabinoids into new edible products and beverages. However, there is growing concern that these fat-soluble CBD nanoparticles are likely to accumulate in organs, potentially causing health problems for those who ingest them. Trait’s revolutionary technology enables the production of truly water-soluble cannabinoids, providing product developers with a superior functional ingredient in the development of CBD infused products.

“Trait is focused on developing a technology that provides our business partners with an extract superior to the nanoemulsion solutions actively used in industry today. Our new technology, slated for market launch in 2022, will provide premium water-soluble cannabinoids for use in a wide range of new CBD products, ”said McDonough.

Cannabis-infused drink market expected to grow 10-fold

Brightfield Group analysts estimate that the U.S. CBD market will reach nearly $ 24 billion by 2023. A recent report from Zenith Global, a global food and beverage consultancy, predicts that the U.S. cannabis will reach $ 1.4 billion. by 2024. New CBD infusion technologies and methods, such as those provided by Trait Biosciences, will serve as a catalyst for growth and transform the beverage market.

About Trait Biosciences

Trait Biosciences Inc. is a global leader in cannabinoid research, focused on developing technologies that enable the production of safe, high-quality, predictable and effective CBD products. Our mission is to develop the world’s most comprehensive integrated approach to cannabinoid science, knowledge and technology.

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