ODI Pharma: Update on progress in “Project Poland” and “Project Skin”
In January 2021 and February 2021, ODI Pharma AB (“ODI” or the “Company”) announced the decision to expand its current business with specialized, highly CBD-infused skin care products (“Project Skin”) and the application for Marketing Authorization of medicinal cannabis in Poland (“Project Poland”). The Company hereby updates on the development of these projects.
On 22nd of February 2021, the Company announced that its subsidiary ODI Pharma Polska Sp. z o.o. has finalized documentation and filed the application to obtain a marketing authorization for the sale of medicinal cannabis with the Polish Health Agency. The approval process, as of today, develops as initially expected. Simultaneously, the Company is continuing to implement its plan by means of supporting educational activities and organizational measures in order to prepare for market access.
On 14th of January 2021, the Company announced the decision to implement Project Skin. After thorough evaluation of the market and its potential for certain product types, the Company has defined a product line, which initially will consist of a CBD infused facial cream, facial mask and body balm. The product line will be produced and launched to the market under the brand “kandol.”, for which the Company’s subsidiary ODI Pharma Schweiz AG has registered a trademark. The products will contain what the Company describes as the Golden Standard of Cannabidiol (CBD) and will be designed to the EU approved definition of Cannabidiol as an antioxidant, antiseborrheic, skin conditioner and skin protector. kandol. will be launched as an innovative brand, focused on sustainable packaging and based on beauty and scientific knowledge. The Company believes that the product formulations and the brand’s approach to sustainability create unique products.
As part of the strategy, ODI has appointed Thomas Cramer as Head of Sales Cosmetics. Thomas Cramer holds extensive experience from the cosmetics industry, including eighteen years at the luxury cosmetics brand Sisley, and will in his position coordinate the European sales and marketing plan.
During the upcoming weeks, the Company intends to finalize all necessary steps to make the products market-ready. The Company will keep the market informed about the launch.
CEO Derek Simmross comments
“kandol. is designed to bring you the best of knowledge from beauty and the professionalism from the medical industry. Our focus will always be on creating ideal partnerships for our exciting products and we have a strong focus on sustainability. We are also thrilled to have Thomas Cramer; a seasoned cosmetics veteran, joining the team with a wealth of knowledge from a top cosmetics producer and help to lead the way in bringing our cosmetic to customers.”
For more information on ODI Pharma, please contact:
Derek Simmross, CEO, ODI Pharma AB
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer of finished pharmaceutical and cosmetic cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.