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Front Range Biosciences, Hemp Trading Announce Distribution Deal For High-CBG Hemp

Front Range Biosciences, Hemp Trading Announce Distribution Deal For High-CBG Hemp

Front Range Biosciences announced an agreement Wednesday with the Spanish company Hemp Trading to distribute Panakeia, a THC-free and high-CBG (18%) content hemp variety.

The partnership will allow the large-scale production and distribution of Panakeia in the U.S. market, according to Front Range Biosciences, an agro-tech company specializing in the breeding and nursery production of new plant varieties and seeds for the coffee and cannabis industry.

The hemp variety was developed in tandem with the Spanish university Universidad Politécnica de Valencia.

Panakeia's qualities of being absolutely free of THC and high in CBG, a non-psychoactive cannabinoid, can be taken advantage of by the American agricultural and welfare industries, according to Front Range Biosciences. 

The hemp varietal is stabilized and produces zero THC. 

"The American market is key to the commercialization of Panakeia, as hemp is grown here on a large scale, and the agreement with these three companies represents a big opportunity for launching Panakeia in the USA," Hemp Trading CEO Ernesto Llosá said in a statement.

"The crop forecasts for next year are more than promising. It is expected that production will triple from 80,000 acres in 2019 to around 250,000 acres in 2020."

Panakeia will have a "seismic ripple effect" on the U.S. hemp farming industry, Dr. Jonathan Vaught, the co-founder and CEO of Front Range Biosciences, said in a statement. 

"Our company's mission from the beginning has been to provide sustainable and modern solutions to mainstream agricultural practices, and I believe the Panakeia hemp variety will not only encourage more streamlined farming methods, but also introduce more Americans to even more of the potential wellness properties of the hemp plant."

Posted-In: Front Range Biosciences Hemp Hemp Trading PanakeiaCannabis News Contracts Markets


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