August 25, 2020 – Vancouver, BC: Better Plant Sciences Inc. (CSE:PLNT) (OTCQB:BOSQF) (FE:YG3) (“Better”) subsidiary Urban Juve Provisions Inc. (“Urban Juve”) announces that it has conducted research and development into plant-based topical products that fight against or prevent infectious diseases leading to the submission of a Natural Health Product (“NHP”) application for a plant-based, antiseptic skin ointment to Health Canada to obtain an NHP number for the product.
“This plant-based skin ointment was developed using the principles of Ayurveda. We have spent the last six months working to identify the plants with the most active compounds with antibacterial and antiviral properties,” says Bhavna Solecki, Director of Research and Product Development at Better Plant Sciences. “We are very pleased with the resulting plant-based antiseptic skin repair and healing ointment formula we have developed to be used to help heal minor skin wounds, cuts, burns, and bruises.”
According to the Natural Health Products Regulations, compendial product license applications such as this are processed within 60-days of receipt.
GM Insights reported that the global wound care biologics market was worth US$ 1.40 Billion in 2018 and is expected to reach a value of US$ 2.5 billion by 2025 with a CAGR of around 9%. Wound care biologics refer to drugs extracted or semi-synthesized from natural sources which are used for controlling and healing infections.
The Better Plant Sciences research and development team focused on using polyherbal combinations, which use a group of plants to achieve an effective therapeutic effect. In Ayurveda, most classical preparations are polyherbal, involving a combination of 3 to 30 plants that are combined in precise ratios to achieve the desired result.
“During the compounding process, one or two of the plants will be active and the others play a supporting role. The supporting herbs have different therapeutic values calculated for different purposes, which act as catalysts to help proper absorption, transportation, and to reduce toxicity,” added Solecki. “We use spices because the phytochemicals within spices are secondary metabolites, which serve to protect against damage by insects, animals, fungi, pathogens, and parasites.”
About Better Plant Sciences Inc.
Better develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has 14 patent applications to protect its formulas and over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale via e-commerce or brick and mortar retail stores. It has signed an agreement to acquire JUSU branded plant-based assets from JUSU Bar, JUSU Body and JUSU Cbd, and expects to complete the acquisition this fall. The acquisition includes all inventory, packaging, raw ingredients, and intellectual property related to 300 plant-based products as well as the e-commerce sites where those products are sold. Its majority-owned subsidiary NeonMind Biosciences Inc. is engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and is developing a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms.
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Kevan Matheson, Investor Relations
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This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better cautions readers not to place undue reliance on forward-looking statements provided by Better, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.