PlantEXT Ltd. and BB1 Acquisition Corp have reportedly announced a joint venture agreement between PlantEXT and Family Secret Ltd, an established, Israeli manufacturer and formulation developer of all-natural medical skin care products.

PlantEXT is a leader in the commercialization and development of medical cannabis formulations for the treatment of medical conditions related to inflammation.

According to CEO of PlantEXT, Doug Sommerville, Family Secret and PlantEXT are working mutually to develop the first-generation of topical cannabis medications that help in treating inflammation.

PlantEXT is optimally utilizing its proprietary methodologies and top-class research and development team to recognize as well as test formulations that are active anti-inflammatory, for blending into formulations of all-natural skin care from Family Secrets, Sommerville mentioned.

Sommerville added that the new JV has the expertise and experience to swiftly develop and commercialize treatments of topical medical cannabis to help in improving the quality of life for patients who are suffering from medical conditions that are caused by inflammation.

Under the JV’s agreement, Family Secret and PlantEXT will work mutually to commercialize and develop a new product line of medical cannabis skin care products, globally.

Family Secret’s CEO, Yaniv Lambaz said that the partnership will enable the new JV to use all-natural therapies of para-medical treatments from Family Secret and integrate them with clinically reinforced medical cannabis formulations of PlantEXT.

Lambaz said he main aim is to improve all-natural therapies, outcomes of more than a century of organic-chemistry experience with the established of anti-inflammatory activity of PlantEXT's terpene and cannabinoid formulations, to develop efficient products for treating medical conditions including atopic dermatitis, pain, migraine, psoriasis and more.

For the uninitiated, Family Secrets had started its business from a small laboratory in Bulgaria where the secrets of pharmaceuticals and medicinal herbs were transferred through generation of chemists, pharmacists, and doctors.

Source Credit: https://www.marketwatch.com/press-release/plantext-and-family-secret-execute-joint-venture-agreement-to-develop-produce-and-market-topical-medical-cannabis-products-2019-04-29