A joint venture collaboration has been signed with CBDerma Technology Limited to explore the application of Futura’s advanced proprietary transdermal drug delivery technology, DermaSys® for delivery of cannabidiol.

Derived from both the Hemp and Marijuana plants, cannabidiol is one of the 113 cannabinoid compounds found within the cannabis family. Cannabidiol has no effect on one's consciousness or lucidity. It is generally regarded as non-addictive and non-psychoactive, making it ideal for consideration as a topically delivered molecule for local or regional (non-systemic) use.

In recent years there has been significant interest in cannabidiol as more data is emerging on its potential benefits in a wide range of conditions particularly pain and epilepsy but also in a range of other conditions including skin conditions, multiple sclerosis, migraines, arthritis and cancer side effects.

Cannabidiol’s market potential

The market for cannabidiol products is growing rapidly. A 2021 report by Reports and Data forecasts that the market for cannabidiol products is forecast to grow from US$3 billion in 2020 to US$15 billion by 2028, at a Compound Annual Growth Rate of 22.6%, during the forecast period. The market is primarily driven by the increase in the usage of cannabidiol in medical applications and consumer products such as supplements, beverages and skin care cosmetics.

A recent independent report commissioned by Futura to provide market insights into the cannabidiol market estimates the European market to be worth €1.4 billion in 2020 of which between one-quarter and one-fifth of the total European market are made up of the topicals market.

Awareness of cannabidiol and market penetration are increasing and vary by region, in large part depending on the regulatory framework of the country. Consumer surveys from New Frontier Data suggest that use rates are lowest in France, Spain and Portugal, all three of which have restrictions of some kind on cannabidiol in their national markets. Awareness of cannabidiol is highest in the UK at 78% and lowest in France at 36%. Consumption of cannabidiol varies also greatly by country in Europe from 7% in France to 33% in Austria.

DermaSys® cannabidiol formulation

DermaSys® may be able to provide a rapid and targeted local delivery of cannabidiol through the skin to the required site of action with a high level of safety and more effectively than other cannabidiol products. It is a versatile and bespoke technology that we are currently seeking to tailor and adapt for the specific requirements of cannabidiol.  We are developing our formulation to pharmaceutical standards in order that any future product could potentially be sold as a cosmetic or potential pharmaceutical product although, in the case of the latter, it is likely to require significant clinical development.

Development joint venture

A joint venture collaboration has been signed with CBDerma Technology Limited to explore the application of Futura’s advanced proprietary transdermal drug delivery technology, DermaSys® for delivery of cannabidiol. All Intellectual Property will be owned jointly by the Company and CBDerma Technology Limited.

CBDerma Technology is a company that has been established and funded to specifically exploit the therapeutic potential of cannabis. The company’s management, backers and advisors have extensive knowledge, expertise and investments in plant derived product manufacturing.

Completion of initial laboratory and optimisation work

As part of the agreement, Futura is developing and optimising a DermaSys® cannabidiol formulation and has conducted early ex vivo proof of concept studies highlighting the known permeation and stability qualities of our DermaSys® technology when used in conjunction with cannabidiol. We are aiming for CBD100 to be highly differentiated from existing, largely unregulated, low-tech products in the fast growing cannabidiol market on the basis of quality, stability and efficient delivery to the skin for a number of applications and indications expected to range from cosmeceutical through to pharmaceutical dermal and pain relief treatments. All Intellectual Property will be owned jointly by the Company and CBDerma Technology Limited.

Futura continues to believe that as the medical and consumer applications of cannabidiol become more widely accepted from both a regulatory and consumer perspective a gel that has been formulated using strict pharmaceutical development principles with strong delivery characteristics, stability and high quality will be an attractive commercial proposition. Whilst Futura’s resources are focused on key asset MED3000, the Company has received interest in CBD100 and continues to explore commercial opportunities for the product with discussions progressing and further validation work being conducted both internally and externally by a potential partner to validate the power of the DermaSys® technology.