SCU Appoints Nevil Schoenmakers as Strategic Advisor to Pursue Opportunities in Medicinal Cannabis Sector
- Leading Medicinal Cannabis industry expert Mr. Nevil Schoenmakers appointed as a Strategic Advisor
- Stemcell United Ltd to pursue investment opportunities Medicinal Cannabis to complement its existing and continuing Traditional Medicine operations
- Global Medicinal Cannabis market projected to reach USD $55.8 billion by 2025
- Strong synergies anticipated with existing business, including the ability to leverage existing investments and expertise in plant extract technology as part of the new venture
SCU believes the sector is complementary to its existing operations and the Company can leverage its extensive experience, technologies and operational synergies from its existing Traditional Chinese Medicine (TCM) plant extract business.
Mr. Schoenmakers was referenced in the industry magazine High Times as the "King of Cannabis", and he brings a wealth of sector experience to SCU. He was the first cannabis cultivator to export cannabis seeds from the Netherlands to global markets, and he is credited with creating many of the most popular award winning strains.
The Company's Non-Executive Chairman Ms. Jamie Khoo said: "We are pleased to welcome Mr. Schoenmakers' as a Strategic Advisor as we assess opportunities in the medicinal cannabis sector. SCU's ability to attract experts the stature of Mr. Schoenmakers demonstrates tremendous confidence in our prospects in this market."
SCU's decision to assess Medicinal Cannabis opportunities comes as a growing number of jurisdictions, including within Australia, pass legislation allowing its use of Cannabis-based products in the treatment of a range of medical conditions. SCU is also ideally situated to develop Asian markets as legislation changes to allow for the usage of medicinal cannabis.
Medicinal Cannabis can be used in the treatment of a range of ailments including Epilepsy, Multiple Sclerosis, Crohn's Disease, nausea related to chemotherapy from Cancer treatment, nerve pain, along with the loss of appetite associated with chronic illnesses such as HIV.
A recent report issued by market research firm Grand View Research Inc., released in February, projected the global market for Medicinal Cannabis products to reach USD 55.8 billion by 2025.
SCU's potential entry into the Medicinal Cannabis market is in addition to the Company's established Dendrobium Officinale Kimura et Migo orchid ("Dendrobium") stem cell extract product lines.
These Dendrobium extract products can be used across a vast array of products, including anti-aging creams, hair care, Traditional Chinese Medicines, dietary supplements, foods and beverages.
Through its Dendrobium business, SCU has pioneered the use of a range of cutting-edge fingerprint mapping technologies such as High Performance Liquid Chromatography (HPLC) to establish the authenticity of raw materials, test for active constituents and ensure their potency.
SCU anticipates that strong synergies with the existing Dendrobium business, including the ability to leverage existing technologies and investments, will give the Company a significant competitive advantage as it enters the highly lucrative Medicinal Cannabis market.
Jamie Khoo added: "Medicinal Cannabis has been called a wonder drug by numerous leading health experts, and we anticipate the industry is set for tremendous growth over the coming years.
"SCU is uniquely placed in terms of technology and expertise to advance in the Medicinal Cannabis market over the coming years."
The Board will update shareholders on the progress of its assessment of medicinal cannabis businesses and operations.
(Yahoo! Finance: Medical Marijuana Market Size to Reach USD 55.8 Billion by 2025)
About Stemcell United Ltd
Stemcell United Limited (ASX:SCU) is a bio-technology company which focuses on the growth, reproduction, culture and extraction of stem cells for medicinal, health and beauty applications using its environmentally friendly proprietary technology.
SCU aims to be the leading plant stem cell researcher, developer and producer, offering a range of products to preserve the health and youth of human beings. SCU prides itself on using its proprietary technology to multiply plant stem cells, as a means of protecting endangered natural plant species while ensuring the continuous supply of plant material extracts for current and future generations. Using its proprietary technology, SCU is able to provide a constant supply of the best quality products at a lower cost, generating value for the Company and its shareholders.
Stemcell United Ltd