Better Plant Receives Health Canada Approval for Plant-Based Antiseptic Skin Ointment
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2020) - Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) ("Better Plant") or (the "Company") announces that it has received a Natural Health Product ("NHP") number (#80105697) from Health Canada for its plant-based, antimicrobial, antiseptic skin ointment. This product was developed after promising results from the Company's research of certain plant-based compounds for antimicrobial activity against pathogens for potential antiviral treatments. This will be Better Plants fourth Health Canada approval in 2020.
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"This antiseptic skin repair and healing ointment formula was developed over ten months and is based on the ancient principles of Ayurveda. It uses plants containing natural compounds that work powerfully to fight bacteria and viruses and contains powerful plant oils with antibacterial and antifungal compounds," says Penny White, CEO of Better Plant. "It is ideal for minor skin wounds, sores, and bruises."
All NHPs sold in Canada require premarket approval. The health claim that was approved for Urban Juve's infectious disease fighting ointment is: "Traditionally used in Herbal Medicine as an antiseptic and/or antimicrobial to help treat minor wounds and sores." Better Plant's skin healing ointment uses polyherbal combinations to achieve an effective therapeutic effect. Key ingredients include thyme, copaiba, and clove essential oil, which all have wound healing properties. "Polyherbal formulations use a group of plants, combined precisely based on the principles of Ayurveda," says Bhavna Solecki, Director of Research and Product Development for Better Plant.
According to a 2018 Market Study Report, the global wound care biologics market is expected to reach USD $2.9 billion by 2025. The global market is segmented on the basis of product, wound type, end user, and region. By product, the market segmented into biological skin substitutes and topical agents. The biological skin substitutes segment is estimated to account for the largest share of the market in 2018.
"Traditional medicine and healers have long used plants to prevent or cure infectious disease," says Bhavna Solecki, Director of Research and Product Development for Better Plant. "The active compounds available in plants have high therapeutic value. Western medicine has begun duplicating ancient medicine with success, and microbiologists, botanists and natural product chemists are becoming more involved in researching plant phytochemicals for treatment of infectious disease."
Better Plant also welcomes Joelle Fiorito who has been appointed as Director of Operations. Joelle has overseen operations for Jusu since the brand was created in 2014. Joelle will take on some of the duties of Tamara Melk, who is now leaving Better Plant as Chief Operating Officer.
About Better Plant Sciences Inc.
Better Plant develops and acquires intellectual property and other assets related to plant-based products and therapeutics. Through its integrated business model, Better Plant develops, manufactures, markets, sells and distributes plant-based products. It owns over 400 proprietary product formulas. It operates websites and sells through eCommerce, Amazon and through a retail store network over 150 plant-based products for body, baby and home under the brands JUSU, Urban Juve and Wright & Well. Its 51% majority owned subsidiary NeonMind Biosciences Inc. is launching a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion's mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied for Health Canada approval to begin preclinical trials to study its pending psychedelic medicine patents.
Investor Relations Contact:
Penny White, President & CEO
Ali Dumanski, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, "forward looking statements") under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company's products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better Plant cautions readers not to place undue reliance on forward-looking statements provided by Better Plant, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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