- Millions
worldwide affected by sleep disorders
- Sleep
disorder market set to exceed $50 billion by 2020
- New
marketing initiative kicks off with engagement of IR firm
- Updated
Crystal Equity Research report now available
Counting sheep may soon be a thing of the past, for
PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) has been
awarded a worldwide license to manufacture, distribute and market three Health
Canada-approved sleep aids (http://ibn.fm/rO8AV).
This milestone could not have come at a better time. Sleeping disorders
affect around 40 percent of adults in Canada (approximately 15 million),
according to a study conducted at the Université Laval, and the same unhappy
state of affairs exists in the U.S. The America Sleep Association (ASA)
estimates that at least 50 million American adults have a sleep disorder. All
three of the products have undergone thorough testing and meet or exceed the
requirements of the European Pharmacopoeia and Health Canada.
The Canadian study was led by Dr. Charles M. Morin, known
for his work developing non-pharmacological therapies, such as
cognitive-behavioral therapy (CBT), to treat insomnia. After surveying some
2,000 Canadians (http://ibn.fm/WXAYw),
Morin’s team found that “40% of respondents had experienced one or more
symptoms of insomnia at least three times a week in the preceding month, i.e.,
taking more than 30 minutes to fall asleep, being awake for periods longer than
30 minutes during the night, or waking up at least 30 minutes before they had
planned. Moreover, 20% of the participants said they were unsatisfied with the
quality of their sleep, and 13.4% of respondents displayed all the symptoms
required to diagnose insomnia.”
Such alarming statistics point to an underserved market,
despite the plethora of sleep aid products available. “Americans spent an
estimated $41 billion on sleep aids and remedies in 2015, and that’s expected
to grow to $52 billion by 2020”, according to figures cited by Consumer
Reports (http://ibn.fm/U9oHj).
The three Natural Health Products (NHPs) to be manufactured
and marketed under the Licensing Agreement with Asterion Cannabis Inc. are ‘Blissful
Sleep’, ‘Blissful Sleep Ex.’ and ‘Skullcap Serenity’. The deal allows PRVCF to
use Asterion’s intellectual property (IP) to make or have made, use,
distribute, sell, offer to sell and promote the products for an initial term of
five years, renewable for five consecutive one-year terms. PreveCeutical will
pay Asterion a royalty equal to 20 percent of the gross product sales.
The ingredients of the products under license are some
traditionally used in herbal medicine as non-addictive sleep aids. Blissful
Sleep and Blissful Sleep Ex contain hops (Humulus lupulus) and root of valerian
(Valeriana officinalis), while Skullcap Serenity contains powdered or extracted
American Skullcap (Scutellaria lateriflora) leaves. Skullcap Serenity’s
ingredients have been used in the past to calm nervousness and alleviate pain
associated with menstrual cramps. For consumers using cannabis to relieve
anxiety or to aid sleep, the products can be used as complementary therapies.
A recently released update of coverage for PreveCeutical is
available at Crystal Equity Research (http://ibn.fm/BkN2J).
For more information, visit the company’s website at www.PreveCeutical.com
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