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Ovation Science Inc. develops topical and transdermal CBD/THC and other cannabinoid products through Ovation Science USA Inc. and its patented Invisicare skin delivery technology. The company out-licenses formulations to licensed operators by state or country and also distributes CBD products under its ARLO CBD Beauty and InVibe MD wellness brands.
Recurring news for OVATF centers on patent protection for cannabinoid delivery formulations, license agreements with cannabis operators, product launches in regulated markets, strategic partnerships, and royalty-based commercialization of Invisicare-powered topical products.
Ovation Science Inc. has announced a new Supply and Distribution Agreement with Golfer's CBD Ltd. for its CBD topical products in the USA, UK, and Europe. This partnership aims to penetrate the lucrative golf market, which includes approximately 66.6 million golfers worldwide. By leveraging Golfer's CBD's established e-commerce and retail distribution channels, Ovation expects to generate immediate monthly revenues. Their patented skin delivery technology, Invisicare, allows for superior absorption of cannabinoids, giving Ovation a competitive edge. The initial launch in the USA is scheduled for April 2023.
Ovation Science Inc. (CSE: OVAT, OTCQB: OVATF) will exhibit at the MJ Unpacked conference from September 28-30, 2022, in Las Vegas. The company aims to meet potential licensees to promote its award-winning transdermal formulations and highlight licensing opportunities for its patented skin delivery technology, Invisicare®. With new patent protection until 2041 and expansion in states like Oklahoma and Missouri, Ovation anticipates significant interest in its products. CEO Terry Howlett emphasized the company's focus on effective cannabinoid delivery and the unique advantages of their formulations.
Ovation Science Inc. has been awarded a patent for its transdermal creams formulated with CBD and THC, valid until February 2041. This patent strengthens the company's market position by protecting its proprietary drug delivery system, Invisicare. It covers the composition and method for delivering CBD and THC through the skin. Ovation has also expanded its licensing to four additional U.S. states, increasing its market reach to over 2,800 dispensaries. The company’s innovative approach has resulted in products showing significantly better absorption rates compared to competitors.
Ovation Science Inc. has announced an exclusive licensing agreement with Stash House Distribution to expand its cannabis formulations into Oklahoma, Missouri, New Mexico, and Mississippi. This agreement aims to increase the company's market presence from 92 dispensaries in Nevada to over 2,800 dispensaries across five states. Ovation's products utilize the patented Invisicare® technology for enhanced cannabinoid delivery, promising a significant increase in revenue through royalties based on wholesale sales. The launch is expected to occur in Q4 of 2022.
Ovation Science Inc. has launched new high-dose CBD formulations in response to the growing CBD market. The company developed a transdermal cream with 1500mg of CBD per ounce and a beauty line offering 200mg per ounce for anti-aging creams and 2000mg for body lotion. The demand for high-dose CBD topicals is increasing, supported by a projected CAGR of 21.2% for CBD products from 2021 to 2028. Ovation aims to expand its market presence beyond Nevada, where its products rank among the top five in sales at dispensaries.
Ovation Science Inc. reported a 15% increase in royalty revenue due to strong sales of its topical cannabis products in Nevada. As of November 30, five of the top ten topical products sold in the state are from Ovation. The company is leveraging its patented Invisicare technology, which enhances the absorption of CBD and THC. Overall cannabis sales in the U.S. for 2021 are projected to reach nearly $31 billion, an increase of 41% over 2020. Ovation aims to expand its licensing model to other states and engage in consumer packaged goods (CPG) opportunities in the upcoming year.
Ovation Science Inc. (CSE:OVAT, OTCQB:OVATF) has announced a new partnership with Pivot Protection Resource, a national distributor for its DermSafe non-alcohol hand sanitizer lotion. This move aims to enhance workplace safety amid the ongoing pandemic, particularly with the rising prevalence of the Delta variant. DermSafe, which uses 4% chlorhexidine gluconate, offers superior germ protection without the drying effects of alcohol. It has shown a 99.97% reduction in the human coronavirus in tests and is recognized by the Canadian Dermatology Review Panel.
Ovation Science Inc. (CSE:OVAT, OTC:OVATF) reports a surge in sales of its non-alcohol hand sanitizer, DermSafe, to athletes across Canada. DermSafe, which contains 4% chlorhexidine gluconate, offers long-lasting germ protection without drying hands. It has shown a 99.97% reduction in the human coronavirus strain OC43. The product has received a Seal of Approval from the Canadian Dermatology Review Panel. Management emphasizes the necessity of such products as athletes return to sports.
Ovation Science Inc. (CSE:OVAT)(OTCQB:OVATF) has launched an online campaign to promote its DermSafe® hand sanitizer, which utilizes Invisicare® technology instead of alcohol. This initiative will feature over 100 articles on Canadian Skin Information's websites, attracting more than 25,000 monthly visitors. DermSafe, effective against COVID-19 with a 99.97% reduction in virus, addresses skin conditions such as dryness and eczema. The campaign aims to boost sales amid retail lockdowns in Canada, providing easy access for consumers.
Ovation Science Inc. (CSE:OVAT)(OTCQB:OVATF) has announced progress in its topical and transdermal cannabis products using patented Invisicare technology. The company now has over thirty products developed, focusing on health, wellness, and beauty. Ovation aims to expand distribution beyond Nevada to other approved US states and is seeking partnerships with multi-state operators. The topical cannabis market is projected to grow to $4.5 billion by 2025, representing a 540% increase. The company has a strong reputation among consumers and budtenders in Nevada.