Made possible by a $1.5 million gift from CSU alumna and Panacea Life Sciences CEO, Leslie Buttorff, the center boasts state-of-the-art chemical separation and analysis instrumentation that will enable foundational research in the chemistry of cannabinoids
GOLDEN, CO / ACCESSWIRE / October 14, 2021 / Exactus, Inc. (OTCQB:EXDI), soon to be Panacea Life Sciences Holdings, Inc. (the "Company"), a cGMP certified, vertically integrated premium cannabinoid company located in Golden, Colorado, along with Colorado State University's (CSU) College of Natural Sciences, announces the grand opening of the Panacea Life Sciences Cannabinoid Research Center at CSU. Following more than a year of planning, the teams are excited to officially launch the grand opening on October 19, 2021.
Panacea's Chief Scientific Officer, Dr. James Baumgartner states, "The cannabinoid research lab will conduct numerous studies and clinical research that will extend our knowledge of how cannabis extracts affect human and animal health. Panacea will work through the center to form multiple research collaborations as well as perform our own studies in multiple therapeutic areas."
The Panacea Life Sciences Cannabinoid Research Center will be housed in the Chemistry Building in the heart of campus. The center is expected to be a leader in cannabinoid research nation and world-wide as the industry continues to grow at a rate of over 21% (CAGR from 2021-2028) with a current market size value in 2021 of $3.5 billion, revenue is forecasted to hit $13.4 billion by 2028.
The one-of-a-kind center, made possible by a $1.5 million gift from CSU alumna and Panacea Life Sciences CEO, Leslie Buttorff, boasts state-of-the-art chemical separation and analysis instrumentation that will enable foundational research in the chemistry of cannabinoids, including medically relevant, THC-free cannabidiol. Jan Nerger, Dean of the College of Natural Sciences at Colorado State University, and Panacea's Buttorff created, designed, and funded the research center in 2020 with the primary goal of it serving as a springboard for CSU-based research that is focused on new and emerging cannabinoids with implications for human and animal health.
"The Panacea Life Sciences Cannabinoid Research Center is a great example of a partnership igniting innovation. Partnering with Panacea will propel us to the forefront of cannabinoid research and provide unprecedented opportunities for CSU faculty and students," said Nerger. "This analytical research facility is unique in the region and Ms. Buttorff's extraordinary gift places CSU in an unparalleled position to advance research in this burgeoning area."
The first studies at the center are underway for isolation of rare cannabinoids, examining cannabidiol's effects on Inflammatory Bowel Disease (IBS), as well as supporting research into dementia and chronic pelvic pain.
Exactus, Inc. (OTCQB:EXDI) (the "Company"), acquired Panacea Life Sciences, Inc. on June 30, 2021. Panacea, which was founded by Leslie Buttorff in 2017 as a woman-owned business, has attracted $20 million in initial investments. In 2019, these were followed up with a $14 million investment from 22nd Century Group, Inc. (NASDAQ: XXII), a leading plant biotechnology company focused on technology to decrease nicotine in tobacco plants and uses its expertise for genetic engineering of hemp plants to modify cannabinoid levels used in manufacturing CBD, CBG and CBN.
Panacea Life Sciences is a leader in production of legal, trace THC, hemp-derived cannabinoid products for consumers and pets that operates a 51,000 square foot cGMP certified facility in Golden, Colorado and the PANA Organic Botanicals farm in western Colorado, complete with fully integrated extraction, manufacturing, testing and fulfillment. Panacea produces softgels, gummies, tinctures, sublingual tablets, cosmetics, and other topicals for purchase online (www.panacealife.com) and in stores as well as in smart kiosk vending machines being rolled out nationally.
If you would like more information about this topic or to learn more about Panacea and its products or our land-to-brand practices, please visit panacealife.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategic partnership with the Colorado State University. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the possibility that our partnership with the Colorado State University is unsuccessful. Other risks are included in filings with the SEC made by Exactus, Inc., parent company of Panacea. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
SOURCE: Exactus Inc.