Cannabinoid is the generic term for a range of 66 chemical compounds derived from the Cannabis sativa plant, many of which have active properties for a range of skin, scalp and deodorant products.
Cannabinoid-based cosmetics have been growing in popularity, against a growing awareness of the medicinal and wellness properties associated with the plant’s extracts and the fact that it ties in with ever popular trend for natural-based products.
"In the skin care market there is a need for innovative, rejuvenating products based on organic, agricultural ingredients, which will provide cosmetic benefits to the consumer," states George E. Anastassov, MD and Axim's Chief Executive Officer.
"With our exclusive cannabinoid-based product formulations, we believe that Axim's Renecann line will successfully satisfy the needs of even the most demanding consumers."
The company says it has filed a provision patent that will cover the development and production of a number of skin care applications targeting the daily use market.
Extensive range of topical products
The company says that once the patent is secured, it will lead to an extensive range of products that will be targeted at the following niche categories:
AXIM has filed a provisional patent covering numerous formulations for skin care products. These formulations will be targeted at the daily use market. The products planned to be included in the Cosmetics Division product line will be the following:
- Anti-Aging Day Cream
- Anti-Aging Night Cream
- Hand and Nail Cream
- Eye Cream
- Lip Balm Baby
- Diaper Rash Cream
- Anti-Acne Tonic
- Anti-Acne Cream
- Face Wash
- Body Wash
- Shampoo Deodorant Spray
The company says the product lines will be hemp oil-derived, cannabinoid-containing skin care products with rejuvenating qualities, targeted as specific treatments for the general population.
“At Axim we believe that the new Cosmetic Division will bring substantial, palpable benefits to consumers and will become an important part of the Company in the future," said Anastassov.
More hemp businesses going into cosmetics
Axim has competition, with a number of hemp-focused businesses in the US announcing their intention to expand into cosmetics following both state and federal legislation that has relaxed laws governing research and production of the plant byproduct in the past year.
In December 2013, competitor biotech business Medical Marijuana launched a skin care line on the back of the plant’s anti-aging properties.