Bod’s share prices has increased 70% in the past one week and is trading at $0.17 intra-day.
Pursuant to the agreement, Linnea will also assist Bod in developing cannabis-based topical treatments for inflammation and sensitive skin, including serums, foam-based creams and balms.
A key value-driver for the new cosmetic range will be the use of Linnea’s unique NioSkin™ ingredient as an active ingredient and transporter of the cannabis.
NioSkin provides superior therapeutic outcomes than standard cannabis cosmetics by efficiently enhancing skin penetration of the cannabis-based extracts.
Bod is currently conducting research and development for its cannabis-based skincare products and is planning to commercialise and distribute the products to consumers by 2018.
The products will be developed and manufactured at facilities in Italy, and exported to numerous major markets beyond Australia, including Asia and the Americas.
Discussions are underway with third-parties for white labelling and wholesale distribution.
The global skincare market is expected to reach $233.7 billion by 2022.