Commercial Trends Dominating the CBD Market in 2021

Author: Nicole Brown

August 3, 2021 – 8 min read

When Tim O’Reilly coined the term “Web 2.0,” he referred to it as “the historical context of web businesses ‘coming back’ after the 2001 collapse of the dot-com bubble.” Web 2.0 went on to become synonymous with the “distinguishing characteristics of the projects that survived the bust or thrived thereafter.” 

We are entering Year 3 of federally legal Hemp CBD, and everyone—brands, manufacturers, retailers and investors—is scrambling to predict the future after COVID- and oversupply-driven market dislocation. 

Just as with Web 2.0, the historical context and distinguishing characteristics of rebounding CBD brands signal a fundamental shift from the early cottage industry of Hemp and CBD. This new era will see sustainable growth driven by the entry of national brands, a fast-maturing supply chain, and the three R’s—research, regulatory clarity, and retail recovery. 

M&A, innovation and celebrity influencers have already contributed to the expansion of the cannabinoid-enabled product category to the tune of 562% growth in a single year. As retail rebounds and consumers re-emerge, new and differentiated wellness options are top priority and companies across the globe are seeing the path forward for a thriving cannabinoid industry.

Last September, we explored the mainstream companies, large brands, and cultural icons entering the cannabinoid industry, including Martha Stewart, Playboy, Perrigo, Prinova, Ocean Spray, and Unilever. In less than a year since that report, we continue to see established companies entering the market alongside new distribution opportunities, strategic acquisitions, and the rise of powerful brand leaders.

CPG BEHEMOTHS GEARING UP: Nestlé & Colgate-Palmolive

Consumer demand for health and wellness products has grown, a trend that accelerated through Covid. Fundamentally, consumers want natural alternative solutions (to big pharma drugs) to address inflammation, sleeplessness, anxiety, pain, and other ailments. Cannabinoid-enabled products are a natural fit for this consumer demand. 

Consumers want CBD, but they don’t know who or what to trust because of the lack of workable regulations and proliferation of unknown, unproven, generic brands. That is starting to change as premium brands emerge from the pack, led by experienced leaders and often backed by credible companies. 

Nestlé 

• In May 2021, Nestlé entered into an agreement to acquire The Bountiful Company, the number one pure-play leader in the global nutrition and supplement category. The transaction includes the high-growth brands Nature’s Bounty®, Solgar®, Osteo Bi-Flex® and Puritan’s Pride®,  as well as the company’s US private label business. 
• Of note, Nature’s Bounty offers the Hemp Plus collection, which features organic hemp seed oil alongside complementary co-actives in capsules to provide support for Sleep, Joint Comfort, Skin Hydration, and Stress.
• According to Nestlé Health Science CEO Greg Behar: “Vitamins and supplements are a key part of our business and have contributed to strong growth acceleration. This acquisition complements our existing health and nutrition portfolio in terms of brands and channels. It will establish Nestlé Health Science as the industry leader in mass retail, specialty retail, e-commerce and direct-to-consumer in the US, while offering significant opportunities for geographic growth.”

Colgate-Palmolive

• In June 2021, personal care giant Colgate-Palmolive announced the development of an antiperspirant formula containing cannabidiol (CBD) that it says works as an anti-irritant on the skin.
• “Beyond antiperspirants, Colgate said its invention could be applied to other personal care items for the skin and hair, including hand soaps, body washes, shampoo hair conditioners, and even cosmetics. And whilst CBD has been highlighted as a preferable cannabinoid in the patent filing, it said other cannabinoids, including CBC, CBG and CBT, among others could be used.”
• Colgate also recently filed for a trio of patents for oral care formulas using CBD, formulas it said it has developed for improved antibacterial efficacy and anti-inflammatory action.”
• In 2020, Colgate acquired the Hello Products, featuring a collection of oral care CBD products including a fluoride and fluoride-free toothpaste, CBD mouthwash, and CBD lip balms.

Consumer Brands Association

Further, a coalition of consumer brands that includes Coca-Cola, PepsiCo and Kellogg Company is appealing to US health regulators to accelerate guidance on CBD products (the FDA has been reviewing CBD policy since 2019 without a resolution). The July 22nd letter from the Consumer Brands Association argues that current US policy on CBD is “not working” and urges uniform federal regulation to enable broad market access for trusted manufacturers.

NEW BRICK & MORTAR DISTRIBUTION: Rite Aid & Southern Glazer’s Wine & Spirits

Retailers emerging from the COVID-overhang are looking for new ways to grow. CBD is back on top of their list of growth categories and promising opportunities. 

Rite Aid

In direct response to growing demand, CBD products and other alternative medicines will now be available at local Rite Aid pharmacies, as the company watches the cannabis market for buying opportunities. Rite Aid CEO Heyward Donigan spoke at the virtual event The Future of Everything Festival, saying that pharmacists are now trained to advise customers on homeopathic alternatives to over-the-counter and prescription medicines.

“(The pharmacists) really are now experts to be able to consult with you about the proven, the worth trying, and then, of course, the traditional medicine,” Donigan said. She further explained that as all Rite Aid pharmacists are certified on alternative and holistic remedies and are encouraged to help customers find treatments that can complement traditional medicines or replace them entirely. 

Southern Wine & Spirits

The beverage format appeals to consumers new to CBD because it is accessible, easy to dose, and resembles functional drinks in the mainstream market. Picking up a single can or bottle is a relatively inexpensive solution for curious mainstream consumers. Plus, beverage consumers are twice as likely to have purchased from a brick and mortar retailer location than CBD buyers overall.

Retailers have taken note of the beverage opportunity — Southern Glazer’s Wine & Spirits, one of the world’s pre-eminent distributors of alcoholic beverages, is filling the void and leading the industry with national CBD distribution, providing capabilities and validation that retail buyers have been looking for in the market.

• In April, Canopy Growth partnered with Southern Glazer’s Wine & Spirits to distribute its CBD-infused sparkling water Quatreau to an initial seven states, including Arizona, Florida, Nevada, and Oregon, among others, with expansion to additional states planned in the months ahead. This partnership with a leading, national distribution company like Southern Glazer’s—which is projecting revenues of $21 billion this year—marks a turning point for the distribution of CBD products in the U.S. Southern’s footprint.
• Last month, Kill Cliff announced their distribution deal with Southern Glazer’s Wine & Spirits. Kill Cliff CBD products offer customers 25mg of Broad-Spectrum Hemp-Derived CBD in each can. The formulation includes B vitamins, electrolytes and plant extracts and is available in five flavors: Mango Tango, Spicy Pineapple (Flaming Joe), Strawberry Daze, Orange Kush and The Grapest of All Time (The G.O.A.T.).
• “We’ve realized over 500 percent growth in our CBD line over the last year, eviscerating all analyst expectations for the industry,” says Gene LaPine, VP of Sales at Kill Cliff. “We are also pacing well ahead of the 70 percent growth anticipated this year in the CBD beverage segment. Our growth trajectory is truly impressive. The buzz in the industry and at Kill Cliff reminds me of the early days at vitaminwater, but this is even more intense. When you add the power of Southern Glazer’s Wine & Spirits to the Kill Cliff equation, there really is no looking back.”

CATEGORY CONSOLIDATION: Green Roads, Apothecanna, Sagely Naturals, Social CBD

The 2018 Farm Bill legalizing hemp across the U.S. spawned a fiercely competitive market for CBD products. The post-prohibition fervor has created a fast-pace and constant change—the market today barely resembles that of 2019.

Many smaller brands have dropped out of the space, while several startups and entrepreneurs never moved “out of first gear,” according to Bethany Gomez, managing director of Brightfield Group, which tracks sales in the CBD market. Others that experimented with CBD line extensions, she noted, have shuttered the portfolios.

The industry has shrunk to around 2,000 brands, Gomez said, down from a peak of 3,500 at the end of 2019. This trend will continue. Several CBD brands are eying acquisition targets in a move that will lead to further consolidation of the market.

For example:

• On April 27, The Valens Co. announced an agreement to acquire Green Roads for $40 million, plus another $20 million contingent on the business achieving certain earnings milestones. Green Roads boasts a distribution network consisting of more than 7,000 retail stores and a robust e-commerce and marketing platform with over 30,000 five-star reviews across all its product lines. Similar to The Valens Company, Green Roads holds a deep commitment to quality control and consumer transparency, producing pharmacist-driven proprietary formulations. 
• On May 17, HempFusion Wellness Inc. revealed plans to acquire APCNA Holdings Inc. (Apothecanna), a brand in the topicals space whose retail partners include CVS Pharmacy and Seventh Sense.
• On May 25, HempFusion disclosed an agreement to acquire Sagely Enterprises Inc. (Sagely Naturals), whose CBD products are distributed in more than 14,000 retailers nationwide.
• On June 16, Kadenwood announced the acquisition of the Social CBD brand. Through the acquisition, Kadenwood said, the CBD company would now boast a portfolio of multiple brands across roughly 18,000 retail stores.

EMERGING BRAND LEADERS: Charlotte’s Web, Medterra, CBDMD

The industry is now being strongly influenced by powerful CBD-only companies, which have been able to further develop reputations and establish brand loyalty, refine and improve marketing strategies, and grow larger and more diverse customer bases despite regulatory and COVID-driven headwinds.. 

Charlotte’s Web

Charlotte’s Web has risen to the top of the ranks by leveraging robust and clever marketing strategies deeply rooted in brand values their customers care about like trust and quality. By understanding who they are as a brand, resonating with the right consumers, and investing in large marketing campaigns, they continue to lead the pack. Charlotte’s Web has also expanded its brand portfolio with CBDMedic, CBDClinic, and HarmonyHemp to reach a wider range of consumers.

• ‍In March of 2021, Charlotte’s Web announced the launch of new Charlotte’s Web™ THC-Free 25mg CBD Oil Tinctures in 10 or 30 milliliter sizes. As the CBD industry pioneer of full spectrum hemp CBD wellness products, the Company is expanding its product offerings for consumers seeking a THC-Free option.  For example, the hundreds of thousands of daily heroes – healthcare workers, fire fighters, police officers, civil service employees and many others –who want the benefits of hemp CBD extracts without THC. 
• While there are other THC-free CBD products in the marketplace, only Charlotte’s Web™ THC-Free CBD oil tinctures contain the Company’s proprietary hemp genetics. These new premium quality hemp CBD oil tinctures will carry the B Corp seal, certifying Charlotte’s Web’s commitment to the environment, to society, particularly underserved communities, and to its employees by being a business that is a force for good.

Medterra

Medterra is a completely CBD-focused brand with broad mainstream consumer appeal. Their focus on ensuring quality and consistency from seed to sale has led to rapid consumer interest. Additionally, they have leaned further into the medical positioning of CBD with their Medterra Clinical brand aimed at capturing more consumers at independent pharmacies and medical practices.

• In April 2021, Medterra announced the launch of its True Full Spectrum collection. Medterra recognized the growing consumer acceptance of THC and set out to develop the best full spectrum CBD on the market. With a standardized 2mg THC per serving in each product and proudly displaying “THC” on every label, Medterra is leaning into the unique benefits of full spectrum while staying within the legal requirements of less than 0.3% THC by weight. 
• The new offering makes Medterra the first leading brand to offer isolate, broad spectrum and full spectrum CBD products.
• The True Full Spectrum line was developed alongside Medterra’s Medical Advisory Board and adheres to the brand’s industry-leading quality and purity standards. The THC forward line offers the complete benefits of the hemp plant with a 5:1 ratio of endocannabinoid to other cannabinoids (at least 20%) with 2mg of THC in each dose.

CBDMD

Their mass adoption across various channels, along with strategic marketing and PR efforts, have no doubt helped in their online sales. cbdMD was the first CBD company allowed to advertise in Times Square in Dec 2018. The company is the official founder of National CBD Day (August 8) and National Hemp Day (February 4).

• In July 2021, cbdMD, Inc. announced the launch of its cbdMD Therapeutics division and initiated talks with one of the leading US cannabinoid research institutes to identify novel cannabinoids for therapeutic use. 
• The intended purpose of these studies is to provide data that will feed cbdMD Therapeutics’ research pipeline. Following the execution of this work, cbdMD Therapeutics will perform the requisite toxicological studies with Ion Tox, a leading in vitro toxicology and ADME-PK testing company, to support the safety of the cannabinoids of interest. This safety data will support the ensuing preclinical trials in humans to explore the efficacy of the cannabinoids. This work will support potential future applications for Investigational New Drugs (INDs) with FDA’s Center for Drug Evaluation and Research (CDER) in humans and animals.
• Later in July, CBDMD further announced its purchase of leading CBD online marketplace, DirectCBDOnline.com and related trademarks and inventory, from Twenty Two Capital, LLC.
• The DirectCBDOnline.com website provides CBD education and information and a selection of the highest-quality CBD products, including, but not limited to, oils, tinctures, salves, capsules, and gummies.

The Time Is Now:

At OBX, we believe the new world order for the cannabinoid industry is upon us. 2021 will prove to be the turning point in building a thriving, healthy industry that contributes to societal good.

OBX exists to accelerate this rising tide by supporting the brands, retailers, and CPGs with reliable supply and differentiated formulations. To learn more about how OBX can support your product development initiatives, or how we can collaborate as partners, please reach out to us: [email protected].

Author: Nicole Brown

August 3, 2021 – 8 min read

When Tim O’Reilly coined the term “Web 2.0,” he referred to it as “the historical context of web businesses ‘coming back’ after the 2001 collapse of the dot-com bubble.” Web 2.0 went on to become synonymous with the “distinguishing characteristics of the projects that survived the bust or thrived thereafter.” 

We are entering Year 3 of federally legal Hemp CBD, and everyone—brands, manufacturers, retailers and investors—is scrambling to predict the future after COVID- and oversupply-driven market dislocation. 

Just as with Web 2.0, the historical context and distinguishing characteristics of rebounding CBD brands signal a fundamental shift from the early cottage industry of Hemp and CBD. This new era will see sustainable growth driven by the entry of national brands, a fast-maturing supply chain, and the three R’s—research, regulatory clarity, and retail recovery. 

M&A, innovation and celebrity influencers have already contributed to the expansion of the cannabinoid-enabled product category to the tune of 562% growth in a single year. As retail rebounds and consumers re-emerge, new and differentiated wellness options are top priority and companies across the globe are seeing the path forward for a thriving cannabinoid industry.

Last September, we explored the mainstream companies, large brands, and cultural icons entering the cannabinoid industry, including Martha Stewart, Playboy, Perrigo, Prinova, Ocean Spray, and Unilever. In less than a year since that report, we continue to see established companies entering the market alongside new distribution opportunities, strategic acquisitions, and the rise of powerful brand leaders.

CPG BEHEMOTHS GEARING UP: Nestlé & Colgate-Palmolive

Consumer demand for health and wellness products has grown, a trend that accelerated through Covid. Fundamentally, consumers want natural alternative solutions (to big pharma drugs) to address inflammation, sleeplessness, anxiety, pain, and other ailments. Cannabinoid-enabled products are a natural fit for this consumer demand. 

Consumers want CBD, but they don’t know who or what to trust because of the lack of workable regulations and proliferation of unknown, unproven, generic brands. That is starting to change as premium brands emerge from the pack, led by experienced leaders and often backed by credible companies. 

Nestlé 

• In May 2021, Nestlé entered into an agreement to acquire The Bountiful Company, the number one pure-play leader in the global nutrition and supplement category. The transaction includes the high-growth brands Nature’s Bounty®, Solgar®, Osteo Bi-Flex® and Puritan’s Pride®,  as well as the company’s US private label business. 
• Of note, Nature’s Bounty offers the Hemp Plus collection, which features organic hemp seed oil alongside complementary co-actives in capsules to provide support for Sleep, Joint Comfort, Skin Hydration, and Stress.
• According to Nestlé Health Science CEO Greg Behar: “Vitamins and supplements are a key part of our business and have contributed to strong growth acceleration. This acquisition complements our existing health and nutrition portfolio in terms of brands and channels. It will establish Nestlé Health Science as the industry leader in mass retail, specialty retail, e-commerce and direct-to-consumer in the US, while offering significant opportunities for geographic growth.”

Colgate-Palmolive

• In June 2021, personal care giant Colgate-Palmolive announced the development of an antiperspirant formula containing cannabidiol (CBD) that it says works as an anti-irritant on the skin.
• “Beyond antiperspirants, Colgate said its invention could be applied to other personal care items for the skin and hair, including hand soaps, body washes, shampoo hair conditioners, and even cosmetics. And whilst CBD has been highlighted as a preferable cannabinoid in the patent filing, it said other cannabinoids, including CBC, CBG and CBT, among others could be used.”
• Colgate also recently filed for a trio of patents for oral care formulas using CBD, formulas it said it has developed for improved antibacterial efficacy and anti-inflammatory action.”
• In 2020, Colgate acquired the Hello Products, featuring a collection of oral care CBD products including a fluoride and fluoride-free toothpaste, CBD mouthwash, and CBD lip balms.

Consumer Brands Association

Further, a coalition of consumer brands that includes Coca-Cola, PepsiCo and Kellogg Company is appealing to US health regulators to accelerate guidance on CBD products (the FDA has been reviewing CBD policy since 2019 without a resolution). The July 22nd letter from the Consumer Brands Association argues that current US policy on CBD is “not working” and urges uniform federal regulation to enable broad market access for trusted manufacturers.

NEW BRICK & MORTAR DISTRIBUTION: Rite Aid & Southern Glazer’s Wine & Spirits

Retailers emerging from the COVID-overhang are looking for new ways to grow. CBD is back on top of their list of growth categories and promising opportunities. 

Rite Aid

In direct response to growing demand, CBD products and other alternative medicines will now be available at local Rite Aid pharmacies, as the company watches the cannabis market for buying opportunities. Rite Aid CEO Heyward Donigan spoke at the virtual event The Future of Everything Festival, saying that pharmacists are now trained to advise customers on homeopathic alternatives to over-the-counter and prescription medicines.

“(The pharmacists) really are now experts to be able to consult with you about the proven, the worth trying, and then, of course, the traditional medicine,” Donigan said. She further explained that as all Rite Aid pharmacists are certified on alternative and holistic remedies and are encouraged to help customers find treatments that can complement traditional medicines or replace them entirely. 

Southern Wine & Spirits

The beverage format appeals to consumers new to CBD because it is accessible, easy to dose, and resembles functional drinks in the mainstream market. Picking up a single can or bottle is a relatively inexpensive solution for curious mainstream consumers. Plus, beverage consumers are twice as likely to have purchased from a brick and mortar retailer location than CBD buyers overall.

Retailers have taken note of the beverage opportunity — Southern Glazer’s Wine & Spirits, one of the world’s pre-eminent distributors of alcoholic beverages, is filling the void and leading the industry with national CBD distribution, providing capabilities and validation that retail buyers have been looking for in the market.

• In April, Canopy Growth partnered with Southern Glazer’s Wine & Spirits to distribute its CBD-infused sparkling water Quatreau to an initial seven states, including Arizona, Florida, Nevada, and Oregon, among others, with expansion to additional states planned in the months ahead. This partnership with a leading, national distribution company like Southern Glazer’s—which is projecting revenues of $21 billion this year—marks a turning point for the distribution of CBD products in the U.S. Southern’s footprint.
• Last month, Kill Cliff announced their distribution deal with Southern Glazer’s Wine & Spirits. Kill Cliff CBD products offer customers 25mg of Broad-Spectrum Hemp-Derived CBD in each can. The formulation includes B vitamins, electrolytes and plant extracts and is available in five flavors: Mango Tango, Spicy Pineapple (Flaming Joe), Strawberry Daze, Orange Kush and The Grapest of All Time (The G.O.A.T.).
• “We’ve realized over 500 percent growth in our CBD line over the last year, eviscerating all analyst expectations for the industry,” says Gene LaPine, VP of Sales at Kill Cliff. “We are also pacing well ahead of the 70 percent growth anticipated this year in the CBD beverage segment. Our growth trajectory is truly impressive. The buzz in the industry and at Kill Cliff reminds me of the early days at vitaminwater, but this is even more intense. When you add the power of Southern Glazer’s Wine & Spirits to the Kill Cliff equation, there really is no looking back.”

CATEGORY CONSOLIDATION: Green Roads, Apothecanna, Sagely Naturals, Social CBD

The 2018 Farm Bill legalizing hemp across the U.S. spawned a fiercely competitive market for CBD products. The post-prohibition fervor has created a fast-pace and constant change—the market today barely resembles that of 2019.

Many smaller brands have dropped out of the space, while several startups and entrepreneurs never moved “out of first gear,” according to Bethany Gomez, managing director of Brightfield Group, which tracks sales in the CBD market. Others that experimented with CBD line extensions, she noted, have shuttered the portfolios.

The industry has shrunk to around 2,000 brands, Gomez said, down from a peak of 3,500 at the end of 2019. This trend will continue. Several CBD brands are eying acquisition targets in a move that will lead to further consolidation of the market.

For example:

• On April 27, The Valens Co. announced an agreement to acquire Green Roads for $40 million, plus another $20 million contingent on the business achieving certain earnings milestones. Green Roads boasts a distribution network consisting of more than 7,000 retail stores and a robust e-commerce and marketing platform with over 30,000 five-star reviews across all its product lines. Similar to The Valens Company, Green Roads holds a deep commitment to quality control and consumer transparency, producing pharmacist-driven proprietary formulations. 
• On May 17, HempFusion Wellness Inc. revealed plans to acquire APCNA Holdings Inc. (Apothecanna), a brand in the topicals space whose retail partners include CVS Pharmacy and Seventh Sense.
• On May 25, HempFusion disclosed an agreement to acquire Sagely Enterprises Inc. (Sagely Naturals), whose CBD products are distributed in more than 14,000 retailers nationwide.
• On June 16, Kadenwood announced the acquisition of the Social CBD brand. Through the acquisition, Kadenwood said, the CBD company would now boast a portfolio of multiple brands across roughly 18,000 retail stores.

EMERGING BRAND LEADERS: Charlotte’s Web, Medterra, CBDMD

The industry is now being strongly influenced by powerful CBD-only companies, which have been able to further develop reputations and establish brand loyalty, refine and improve marketing strategies, and grow larger and more diverse customer bases despite regulatory and COVID-driven headwinds.. 

Charlotte’s Web

Charlotte’s Web has risen to the top of the ranks by leveraging robust and clever marketing strategies deeply rooted in brand values their customers care about like trust and quality. By understanding who they are as a brand, resonating with the right consumers, and investing in large marketing campaigns, they continue to lead the pack. Charlotte’s Web has also expanded its brand portfolio with CBDMedic, CBDClinic, and HarmonyHemp to reach a wider range of consumers.

• ‍In March of 2021, Charlotte’s Web announced the launch of new Charlotte’s Web™ THC-Free 25mg CBD Oil Tinctures in 10 or 30 milliliter sizes. As the CBD industry pioneer of full spectrum hemp CBD wellness products, the Company is expanding its product offerings for consumers seeking a THC-Free option.  For example, the hundreds of thousands of daily heroes – healthcare workers, fire fighters, police officers, civil service employees and many others –who want the benefits of hemp CBD extracts without THC. 
• While there are other THC-free CBD products in the marketplace, only Charlotte’s Web™ THC-Free CBD oil tinctures contain the Company’s proprietary hemp genetics. These new premium quality hemp CBD oil tinctures will carry the B Corp seal, certifying Charlotte’s Web’s commitment to the environment, to society, particularly underserved communities, and to its employees by being a business that is a force for good.

Medterra

Medterra is a completely CBD-focused brand with broad mainstream consumer appeal. Their focus on ensuring quality and consistency from seed to sale has led to rapid consumer interest. Additionally, they have leaned further into the medical positioning of CBD with their Medterra Clinical brand aimed at capturing more consumers at independent pharmacies and medical practices.

• In April 2021, Medterra announced the launch of its True Full Spectrum collection. Medterra recognized the growing consumer acceptance of THC and set out to develop the best full spectrum CBD on the market. With a standardized 2mg THC per serving in each product and proudly displaying “THC” on every label, Medterra is leaning into the unique benefits of full spectrum while staying within the legal requirements of less than 0.3% THC by weight. 
• The new offering makes Medterra the first leading brand to offer isolate, broad spectrum and full spectrum CBD products.
• The True Full Spectrum line was developed alongside Medterra’s Medical Advisory Board and adheres to the brand’s industry-leading quality and purity standards. The THC forward line offers the complete benefits of the hemp plant with a 5:1 ratio of endocannabinoid to other cannabinoids (at least 20%) with 2mg of THC in each dose.

CBDMD

Their mass adoption across various channels, along with strategic marketing and PR efforts, have no doubt helped in their online sales. cbdMD was the first CBD company allowed to advertise in Times Square in Dec 2018. The company is the official founder of National CBD Day (August 8) and National Hemp Day (February 4).

• In July 2021, cbdMD, Inc. announced the launch of its cbdMD Therapeutics division and initiated talks with one of the leading US cannabinoid research institutes to identify novel cannabinoids for therapeutic use. 
• The intended purpose of these studies is to provide data that will feed cbdMD Therapeutics’ research pipeline. Following the execution of this work, cbdMD Therapeutics will perform the requisite toxicological studies with Ion Tox, a leading in vitro toxicology and ADME-PK testing company, to support the safety of the cannabinoids of interest. This safety data will support the ensuing preclinical trials in humans to explore the efficacy of the cannabinoids. This work will support potential future applications for Investigational New Drugs (INDs) with FDA’s Center for Drug Evaluation and Research (CDER) in humans and animals.
• Later in July, CBDMD further announced its purchase of leading CBD online marketplace, DirectCBDOnline.com and related trademarks and inventory, from Twenty Two Capital, LLC.
• The DirectCBDOnline.com website provides CBD education and information and a selection of the highest-quality CBD products, including, but not limited to, oils, tinctures, salves, capsules, and gummies.

The Time Is Now:

At OBX, we believe the new world order for the cannabinoid industry is upon us. 2021 will prove to be the turning point in building a thriving, healthy industry that contributes to societal good.

OBX exists to accelerate this rising tide by supporting the brands, retailers, and CPGs with reliable supply and differentiated formulations. To learn more about how OBX can support your product development initiatives, or how we can collaborate as partners, please reach out to us: [email protected].