The company just announced that, in September, it will begin manufacturing in-house its patent-pending cannabinoid-infused center-filled chewing gum. CanaFarma has filed provisional patents in both the US and Europe for this new innovation in confectionary hemp delivery, the center-filled chewing gum.
According to the release, the Company has been working with its research and development partner, APet Holding BV, testing the product, and refining the manufacturing process. With the testing program expected to be complete in August, CanaFarma is scheduled to begin manufacturing the center-filled chewing gum in September. The two patents pending regarding the invention relate to chewing gum or lozenge composition that can be liquid filled containing high-quality hemp oil, naturally enriched with many phytocannabinoids, including hemp. The invention will serve as an extension to the widely popular YOOFORIC, hard-shelled chewing gum, currently marketed and sold by CanaFarma. The Hemp extract in the gum (or lozenge and/or in the liquid filling thereof) is in an amount of up to 100 mg per unit dose.
The invention is designed to have a high initial release rate of the hemp sourced hemp by releasing the oil from the center with the first bite. Due to the design, the long-lasting chewability of the gum encourages an extended-release. The absorption rate of the currently marketed YOOFORIC™ formula has been tested to be at an industry-leading 84% and because the actives are absorbed through the buccal cavities within the mouth, the center-filled version is expecting to test at even stronger bioavailability levels. The combination of the two technologies makes this new center-filled gum an advanced and fun way to enjoy the benefits of full-spectrum hemp oil and hemp.
David Lonsdale, CEO of CanaFarma said, “We are very pleased to be delivering this patent-pending, cannabinoid-infused, center-filled chewing gum extension to our YOOFORIC™ range of products, and expect it to be very well received by our customers.”
Just before that, the company announced that it conducted an analysis of its product sales from its first six months of sales activity (from June to November 2019). Sales of CanaFarma’s first two products, YOOFORIC™ chewing gum and YOOFORIC™ tincture, commenced in June 2019. CanaFarma has completed this review of its first six months of revenues in order to assess its marketing direct response model.
In the release, the company revealed some very interesting data points: the re-order rate of products by customers in its YOOFORIC™ brand was 68%; the daily order count was approximately 300 orders per day, which was in line with budget expectations; the cost to acquire customers or Cost Per Acquisition (“CPA”) was 10% lower than had been budgeted; the Company’s re-marketing efforts to customers achieved results which were 28% better than projections; and 65% of customers also chose to try a second product under the YOOFORIC™ brand, demonstrating a high degree of confidence in brand equity and credibility.
CEO Lonsdale said, “We are gratified by the response that our customers have shown to our marketing efforts. These results provide us a great deal of confidence in our marketing approach as we look to scale up our marketing and sales efforts in the future.”