- Therma Bright to establish subsidiary to hold pain relief device-related technology and intellectual property developed for application/use of cannabis formulations
- Therma Bright portfolio currently includes products, devices and treatments offering cosmetic, medicinal or therapeutic benefits for effective, non-invasive, pain-free skin care for cold sores, insect and marine life bites
- Proprietary thermal therapy device technology has received Class II medical device status from the U.S. Food and Drug Administration
- Legal cannabis market expected to reach $146.5 billion by end of 2025 with CAGR of 34 percent
Therma Bright, Inc. (TSX.V: THRM) (OTC: THRBF) continues to develop a new pain relief device that incorporates the company’s thermal therapy technology with medical grade cannabis or cannabidiol (CBD) sourced from hemp as a cream or gel to provide relief of back, knee and other joint pain. A wholly owned subsidiary is being incorporated to hold any device or technology that Therma Bright develops for use or application of cannabis, the company announced in a news release (http://cnw.fm/26LWr).
Therma Bright will conduct all research and handling of any medicinal cannabis through authorized and licensed research facilities (http://cnw.fm/lse5T). The company has also initiated patent and trademark protection for its thermal therapy technology that incorporates medicinal cannabis. Once approvals are secured, Therma Bright plans to sell the device through licensed cannabis producers and retailers across Canada and in international markets where cannabis has been legalized.
Rob Fia, Therma Bright CEO, said that, over the last several weeks, the company has reviewed several device delivery systems designed for recreational or medicinal cannabis use, along with personal cannabis home growing systems. These devices and systems could present unique acquisition opportunities and help further the company’s strategic approach to the cannabis space, Fia said.
“Therma Bright has reviewed some exciting technology over the last several weeks which we believe would be an excellent fit for our current product offerings. Both the medicinal, and specifically the recreational cannabis markets, are projected to be large markets in Canada and worldwide,” Fia said in a news release. “We felt this was an ideal time to explore cannabis device delivery systems and are pleased to have been approached by numerous companies to review what is in our opinion excellent technology. Therma Bright is pleased with the launch of ColdSores.com and looks forward to updating shareholders on our marketing strategy for the e-commerce site prior to year-end.”
Grand View Research, Inc., reports that the legal cannabis market is expected to reach $146.5 billion by the end of 2025 with a compound annual growth rate of 34 percent (http://cnw.fm/Pb3d2). Growing adoption of cannabis in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in the future, the report states. The number of conditions treated using medical cannabis is growing rapidly as new patients are added to the market.
Therma Bright currently has two products on the market and another in the research and development phase. InterceptCS is a thermal therapy device available without prescription for the treatment and prevention of cold sores caused by the herpes simplex Type 1 virus. When used at the first sign of an oncoming cold sore, application of InterceptCS can prevent symptoms from developing*.
TherOZap is a next generation thermal therapy device powered by the company’s core technology, which is approved by the FDA as a Class II medical device for the relief of the symptoms of insect bites. Testing of a new, easier-to-use prototype of the device for effectiveness against the Zika virus and other diseases carried by mosquitoes is underway. Once the technology proves effective, Therma Bright intends to seek regulatory approvals and extend the prototype enhancements to a new, commercial version of TherOZap.
For more information, visit the company’s website at www.ThermaBright.com
- Based on double blind placebo study, InterceptCS™ is approved for the claim “For prevention of cold sores when used within 3 hours of the onset of the prodrome.” by Health Canada. InterceptCS™ is not approved by the United States FDA for any claim of clinical indication, clinical efficacy and/or cure or prevention of disease.
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