GOLDEN, CO / ACCESSWIRE / November 23, 2021 / Panacea Life Sciences, Inc. (OTCQB: EXDID), (the "Company"), a cGMP certified, vertically integrated premium CBD and cannabinoid company, launches four new products in their PANA Beauty® line of skincare products to capitalize on the growing market niche.
Working closely with certified dermatologist Dr. Paul Dean, partner of PL Skin Solutions based in California, Panacea developed four new products just in time for the close of the year. The CBD skincare market is estimated to be worth USD 1295.7 Million by 2026 and is foreseen to garner a CAGR of about 33% from 2021 to 2026.
"I am thrilled to be part of this superior skin line, PANA Beauty®. I have assisted in the formulation of these unique skincare products which have a blend of antioxidants and CBD ingredients. It's amazing to see how my patients have benefited significantly from the use of these products" says Dr. Dean.
The new products can be used together as a four-part skin regimen or on their own. Products include a CBD Soothing Eye Therapy serum, a Full Body CBD Moisture Therapy lotion, Skin Clearing CBD Gel, and a CBD Regenerating Facial Cream.
Nick Cavarra, Panacea's SVP of Sales and Marketing, states, "Panacea customers have wanted us to create a premier line of CBD beauty products, and our R&D team along with Dr. Dean have accomplished this by working closely together over the last two years on formulation, stability, and efficacy of the products. I am proud to be introducing our four new beauty products to the marketplace and believe they will differentiate us from our competition and position the Company to increase our overall revenues."
Increased adoption of skincare products containing CBD is driving growth throughout the industry. CBD is packed full of anti-inflammatories, free radical-fighting antioxidants, ultra-hydrating, and emollient properties providing therapeutic value. Panacea's four new products cover the CBD skincare market by type, providing serums, lotions, gels, and creams.
The market is looking for natural products with clean ingredients and free of parabens, sulfates or animal testing. Panacea's beauty line goes above and beyond consumer demand by offering products made with all-natural ingredients, including hemp-derived CBD grown and manufactured in the U.S., that are third party tested and dermatologist approved.
Since their founding in 2017, Panacea Life Sciences has upheld the highest standards for all their products across multiple categories, from oil drops and softgels to gummies and topicals. With a focus on Cultivating Everyday Wellness™ by making products that use only the highest quality cannabinoids, the brand continues to build trust and reliability with each new product in its lineup.
About Panacea Life Sciences Holdings, Inc.
Panacea Life Sciences, Inc. is a leader in production of legal, trace THC, hemp-derived cannabinoid products for consumers and pets that operates a 51,000 square foot cGMP certified facility in Golden, Colorado and the PANA Organic Botanicals farm in western Colorado, complete with fully integrated extraction, manufacturing, testing and fulfillment. Panacea produces softgels, gummies, tinctures, sublingual tablets, cosmetics, and other topicals for purchase online (www.panacealife.com) and in stores as well as in smart kiosk vending machines being rolled out nationally.
Panacea, which was founded by Leslie Buttorff in 2017 as a woman-owned business, has attracted $20 million in initial investments. In 2019, these were followed up with a $14 million investment from 22nd Century Group, Inc. (NASDAQ: XXII), a leading plant biotechnology company focused on technology to decrease nicotine in tobacco plants and uses its expertise for genetic engineering of hemp plants to modify cannabinoid levels used in manufacturing CBD, CBG and CBN.
If you would like more information about this topic or to learn more about Panacea and its products or our land-to-brand practices, please visit panacealife.com.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our Pana Beauty product line, including the perceived merits and anticipated outcome of our new products, consumer demand for and suitability of our products in retail locations and in general, and the expected growth of the CBD/hemp industry in which we operate. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the possibility that our Pana Beauty product line is not successful due to regulatory challenges and, the risk that due to insufficient sales or for other reasons. Other risks are included in filings with the SEC made by Panacea Life Sciences Holdings, Inc., parent company of Panacea. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
Contact:
Nick Cavarra
Nick.cavarra@panacealife.com
SOURCE: Panacea Life Sciences, Inc
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