29th Jul 2019 12:39
(Alliance News) - Integumen PLC on Monday said it is expanding its Wound pHase wound care division to include cannabidiol-infused wound dressings by extending its licence technology agreement with Cellulac PLC.
Integumen makes Labskin, a human-like skin which is used for product testing, and owns a 9.4% stake in Cellulac. Integumen shares were up 3.6% at 1.88 pence on Monday at midday.
The licence technology agreement between the companies will now include refining "medical grade hemp-derived CBD for infused wound dressings" as part of a collaboration with the University of Limerick and the Research Centre for Resource Efficiency, which is backed by the Irish government.
Cellulac's new SoniqueFlo enzyme and engineering installation at the Research Centre for Resource Efficiency will be used to process and refine the CBD in order to "create private-label CBD infused chronic wound and burns dressings".
Integumen believes that adding CBD to wound dressings, known to provide pain relief and have anti-inflammatory properties, will aid in "faster recovery".
Integument Chief Executive Gerard Brandon said: "Following the success over the past year of building the Labskin division into a sustainable revenue generating business, management can now turn their focus on to the potentially lucrative Wound pHase division."
Brandon added: "With a growing demand for CBD infused products for their anti-inflammatory and pain relief properties, we believe that our expertise in skin wound repair and burns treatment at Wound pHase, in addition to the testing capabilities of Labskin and commercial knowledge of Integumen's management team, our unique CBD infused pain-relieving wound dressing for chronic wounds will be well received in this growing multi-billion dollar global market."
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