A Canadian cannabis biotechnology research organization has announced a breakthrough in water-soluble cannabinoids.
Vancouver, British Columbia-based Trait Biosciences today announced its successful completion of key scientific studies and operational milestones related to Series A financing.
Trait says the accomplishments reflect its continued progress in advancing proprietary technology and innovative solution development for creating higher-quality products in the cannabidiol (CBD) product market.
Trait CEO Peter McDonough says the company’s mission to develop innovative cannabinoid technologies that deliver superior water-soluble extracts will usher in higher-quality and safer CBD products.
“We’re proud of the progress our scientsts made in advancing our breakthrough technology this past year and excited to have Dr. Hanny Kanafani joining the Trait leadership team,” says McDonough. “Dr. Kanafani is a proven leader with valuable experience to assist Trait in advancing our technology for commercial applications in the year ahead.”
New Leadership at Trait
Alongside its water-soluble cannabinoid announcement today, Trait also revealed that it appointed Dr. Hanny Kanafani as Vice President of Science Technology.
The Vice President of Science Technology is a newly-created position at Trait.
Trait also recently appointed business executive Auroni Majumdar of International Flavors and Fragrances to its advisory board.
With over 30 years of experience in technology and product development, and a Ph.D. in Microbiology and Food Sciences from the University of Illinois, Dr. Kanafani has worked in senior leadership roles in research and development at companies like Herbalife, PepsiCo, and Pillsbury.
“I’m excited to join Trait and lead the development of its technology that will be critical for creating safe and high-quality CBD products,” says Dr. Kanafani. “Trait’s technology will represent an important breakthrough in formulating a new generation of superior innovative consumer CBD products in the years ahead.”
Scientific Innovation in Cannabinoids
In November, Trait announced the completion of important milestones related to its proprietary water-soluble cannabinoid development.
According to Trait, it is preparing to launch a breakthrough water-soluble CBD extract in 2022.
Currently, many manufacturers rely on nano-emulsion to infuse cannabinoids into solid and liquid edible products.
But there is concern that the fat-soluble CBD and tetrahydrocannabinol (THC) nanoparticles are prone to accumulation in organs, potentially causing health problems.
According to Trait, its proprietary technology enables the production of truly water-soluble cannabinoids, giving product developers a superior functional ingredient to use in their products.
“Trait is focused on developing technology that provides our business partners with a superior extract to the nano-emulsion solutions actively used throughout the industry today,” says McDonough. “Our new technology, scheduled for market launch in 2022, will deliver premium quality, water-soluble cannabinoids for use in a broad range of novel CBD products.”
Citing Brightfield Group data, Trait says the cannabis-infused drink market will experience a tenfold increase in the coming years.
According to Brightfield Group analysts, the United States CBD market will grow to $24 billion by 2023.
The food and drink consulting firm Zenith Global projects the cannabis-infused drink market in the United States will reach $1.4 billion by 2024.
Trait says new technologies and CBD infusion methods will serve as a catalyst for growth and transform the beverage market.