eSense-Lab Ltd (ASX:ESE) is a biotech company with a unique technology to analyse and reverse-engineer the terpene profiles of cannabis strains by using alternate plant sources.
The technology also enables the creation of unique terpene profiles of rare and high-value plants, providing sustainability and lower production costs.
Terpenes are naturally occurring compounds (classified as phytochemicals) which account for the flavour and fragrance of plants. Each plant has its own unique terpene profile.
Plants that produce terpenes are known as aromatic plants, and its distinctive flavour and smell is derived from its unique blend of terpenes (basil, mint, oregano and cannabis).
In addition to its existing terpene strains and e-liquids in the market, eSense is establishing joint ventures for mutual development of products with different partners.
eSense recently partnered with biotechnology company SeaLaria Ltd for a joint venture to develop new products based on the synergistic effect of eSense’s terpene strains and SeaLaria’s unique gelatinised red algae.
The initial focus of this joint venture will be on healthcare and consumer anti-viral hand sanitisers.
The addition of terpenes in sanitisers could mean a reduction of harmful effects on the skin, without compromising effectiveness.
eSense’s lab is researching and testing its gel-based, alcohol-free sanitiser to evaluate terpene’s anti-viral synergistic effects.
COVID-19 has significantly impacted consumer behaviour with people becoming more aware of their hand-hygiene.
People are being advised through government campaigns, advertisements and news to use hand sanitiser often. This has and is anticipated to continually boost market growth.
The global hand sanitiser market is expected to grow to a market value of US$8.09 billion by the end of 2025.
eSense is continuing to research innovative, evidence-based applications of terpenes in medical areas such as cancer, virology, neurodegeneration, fibrosis, COPD, endometriosis and other diseases, and also for the wellness, cosmetics and nutritional markets.