17 Oct 2012, BioSpectrum Bureau , BioSpectrum
Singapore: US-based Medical Marijuana, a leading hemp industry innovator and its CanChew Biotechnologies portfolio company have commenced market trial sign ups for CanChew CBD chewing gum product line. The free market trial offer is open to patients suffering from pain from muscular spasticity, cancer, neuropathic conditions, psychological disorders and arthritis.
The trial will be managed by CanChew directors, Dr George Anastassov, DrPhilip A Van Damme, and production specialistm, Lekhram Changoer. The sign-up period is underway and will last until November 15, 2012, or until all of the participant slots are filled.
Since announcing the trial on October 1, the company has received terrific feedback from many qualifying patient participants and looks forward to a strong program. The CBD health and wellness industry is estimated by MJNA to be a $5 billion market.
According to BCC Research and Market Forecasting, the global market for pain management pharmaceuticals and devices amounted to $19.1 billion in 2008 and is expected to increase to $32.8 billion in 2013. The compound annual growth rate (CAGR) for the five-year period is projected at 11.5 percent.
"We have seen a tremendous number of inquiries this month from qualifying patients for the CanChew market trial. We look forward to a successful program. This news is especially encouraging as we continue to prepare for our full blown national and international CanChew launch in early 2013," stated Mr Ted Caligiuri, interim president, Medical Marijuana.