Key Findings:

• Pain, from various conditions, is by far the most prevalent symptom treated in clinical trials involving cannabinoids – with pain being the target condition in 46% of trials since 2010.
• The most commonly featured conditions in the patent landscape include epilepsy, cancer and associated conditions, seizures, and autism spectrum disorder.
• Clinical trials featuring patented compounds (Sativex and Epidiolex) dominate completed phase 3 trials
• It is estimated that global sales within the pharmaceutical cannabis industry will amount to approximately US$1.11 billion in 2023, with projections indicating a growth to US$1.37 billion by 2027.

The number of clinical trials using cannabis-based medicines to treat patients with symptoms from a variety of conditions – including cancer, epilepsy and autism spectrum disorder – has exploded since 2010, a new report has found.

In 2010, only eight clinical trials globally used cannabis-based medicines as a treatment for conditions such as Diabetes and Anxiety. In 2022 alone, 60 clinical trials began – a 650% increase in comparison to 2010.

So far this year, 49 clinical trials involving cannabis-based medicines have already started, with more due to kick-off before the end of the year.

Almost every year since 2015, the number of clinical trials has increased year-on-year.

Almost half of all clinical trials globally involving pharmaceutical cannabis medicines since 2010 have targeted ‘pain’ from various conditions.

Of the 440 clinical trials analysed, in 46% – or 202 trials in total – ‘pain’ was found to be the target condition for treatment. Chronic or neuropathic pain, in particular, has been the target symptom in the majority of trials, encompassing conditions such as fibromyalgia/myofascial pain, cancer-related pain and pain associated with neurodegenerative diseases such as MS and Parkinson’s.

In recent years, there has, instead, been a notable increase in clinical trials examining the potential benefits of cannabis and cannabinoids for various mental-related disorders, such as anxiety and depression.

The types of medicines being used in these clinical trials consist of a variety of different cannabinoids. Of all trials analysed, 34.5% used a combination of the two most commonly-known cannabinoids – THC and CBD.

Lawrence Purkiss, senior analyst at Prohibition Partners and co-author of the report, said: “Looking at the development of clinical trials in cannabis over the last decade gives great insight into the potential breakthroughs in the space in the coming years. From analysing the patent landscape in conjunction with the clinical trials record, it’s clear that the possibilities for further cannabinoid-based treatments are incredibly broad, with significant interest already in specific areas.”

On the HHS’s recommendation, Stephen Murphy, CEO of Prohibition Partners, said: “The HHS recommendation further splits the path of cannabis between adult-use and medical purposes. This helps advance access, but also opens the door for the existing healthcare and pharmaceutical industry to embrace patient demand.”

“The just-published The Pharmaceutical Cannabis Report: 3rd Edition highlights the path forward for cannabis and the explosion of clinical research and development that will be further enhanced once this recommendation comes to fruition.”

ABOUT PROHIBITION PARTNERS

Prohibition Partners is a data, media and tech company operating in the fast-growing legal cannabis industry. We provide the industry with specialist information, data analytics and digital commerce solutions.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

LOS ANGELES and DESERT HOT SPRINGS, Calif., March 03, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), an innovative California-based cannabiotech company, is providing an update on progress with the Company’s previously announced Notice of New Cannabis Product (“NNCP”) filed with Health Canada for its patented Hourglass Time Release THC+CBD infused Topical Delivery Cream. Approval of the NNCP by Health Canada will enable Grapefruit to sell its patented Hourglass Time Release THC+CBD infused Topical Delivery Cream to licensed retail outlets throughout Canada.

Health Canada is the department of the federal government of Canada responsible for national health policy. It approves and oversees the production of all cannabis products and is the licensing authority for all companies involved in the cannabis industry. Health Canada requires all cannabis products meet federal regulatory requirements before they can be sold in Canada. Under Canada’s Federal Cannabis Regulatory scheme, Health Canada must be notified of a company’s intent to sell a cannabis product that has not previously been sold in the country. Approval of the NNCP is a mandatory prerequisite to the launch of Grapefruit’s Hourglass technology-based products in Canada. On Feb. 18, 2022, Grapefruit received an inquiry from Health Canada about the composition of specific Hourglass ingredients. Grapefruit’s timely response to the inquiry was promptly accepted by Health Canada.

Grapefruit believes its Hourglass THC/CBD delivery cream system is a truly disruptive technology which has fundamentally changed the way humans safely ingest THC, CBD and other cannabinoids to enjoy their unique holistic benefits without the dangers of smoking and/or oral ingestion. A simple application of Grapefruit’s Hourglass THC/CBD/cannabinoid cream is all that is needed for Hourglass users to obtain the full-body entourage effects and related benefits of THC, CBD and a wide array of other beneficial cannabinoids.

Bradley J. Yourist, Grapefruit’s CEO and co-founder, commented, “We are pleased with the significant progress made on our Health Canada Hourglass approval initiative after successfully responding to Health Canada’s first round of requests for additional information. We are on track to obtain approval of our Hourglass NNCP. Grapefruit looks forward to bringing the Hourglass THC+CBD product to Canada.”

For additional information about Hourglass Canada, please visit: https://grapefruitblvd.com/hourglass-canadian-launch/

To purchase Grapefruit’s groundbreaking CBD delivery relief cream outside of Canada, please visit: https://hourglassonlinestore.com/

To learn more about Grapefruit’s new sustained-release Hourglass THC + Cannabinoid Topical Delivery Cream, please watch this promotional video: https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be
and visit our website at:
https://grapefruitblvd.com/hourglass/

For investor information, please visit our website at:
https://grapefruitblvd.com/investor-relations/

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About Grapefruit

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit the Company’s website at https://grapefruitblvd.com/.

Safe Harbor Statement

Grapefruit cautions that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the Company may not ever obtain additional funds necessary to support its business development and growth plans; and the Company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, its Quarterly Report on Form 10-Q for the period ended Sept. 30, 2021, and its Registration Statement on Form S-1/A. Such documents may be read free of charge on the SEC’s website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.

Investor Relations Contact:
Bradley Yourist
[email protected]
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/

Please be aware that our social media accounts can be used from time to time for additional material events. They can be found here:

Grapefruit USA:
Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/
Instagram: https://www.instagram.com/grapefruit_usa/
Twitter: https://twitter.com/grapefruitusa
LinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/
Weedmaps: https://weedmaps.com/brands/grapefruit

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.