Applied BioSciences Acquires Majority Stake in Cannabis Testing Firm

A recent report from Coherent Market Insights estimates that the global cannabis testing market is projected to grow 13.2 percent year-over-year through 2026.

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January 9, 2019
Press Release

LOS ANGELES, Jan. 09, 2019 (GLOBE NEWSWIRE) -- Applied Biosciences Corp., a diversified cannabinoid therapeutics company focused on the medical, bioceutical and pet health industries, announced that it has acquired a majority stake in Trace Analytics, Inc., a leading testing and analytics company. The team has over 65 years of experience in the testing and analytics space and a full-time staff of nine employees including, two Ph.D. analytical chemists and five other scientists. 

A recent report from Coherent Market Insights estimates that the global cannabis testing market is projected to grow 13.2 percent year-over-year through 2026, when it is expected to surpass $1.5 billion USD.

Although the health benefits of Cannabis and CBD are becoming well known, one of the challenges is the safety and testing of these products which are ingested, vaped and applied topically.  Many products in the market are cheaply-made, with multiple toxins, chemicals and synthetics.   Some of the products include high levels of THC, harmful substances, illegally processed synthetic cannabinoids, and even some that have no CBD at all. Applied Biosciences intends to position Trace as the leading provider of testing solutions for both compliance requirements and consumer safety.

“Applied BioSciences continues to be at the forefront of the evolving consumer market, using organically grown plants, without pesticides or herbicides as our main ingredient.  As the company, continues to expand our product lines it is important to know that our products have been thoroughly tested by trusted labs in the industry for chemicals, pesticides and any harmful materials.  All our products are tested to ensure high-caliber and quality as well as overall safety.  We will now be able to test our products in an expedited fashion as well as from third-party labs and continue to provide the highest standard of testing results and safety protocols on all our products,” commented Chris Bridges, President of Applied BioSciences Corp.

“Applied BioSciences will allow our company and team to expand. We are excited to embark on this new partnership.  Both organizations have a focus on quality and providing the end user the safest possible products.   The leadership teams of both companies have decided to expand the testing offerings to include advanced pesticide testing by purchasing a gas chromatography tandem mass spectrometer (GC/MS/MS) to complement the liquid chromatography tandem mass spectrometer (LC/MS/MS), as well as purchasing an ion coupled plasma mass spectrometer (ICP/MS) for heavy metals testing. These new platforms, once certified, will allow Trace Analytics to certify Washington State’s medical grade cannabis as well as offering advanced analytical testing to the CBD producers / processors from around the world,”  commented Jason Zitzer, COO of Trace Analytics Inc.

Applied BioSciences products use base ingredients that are USDA Organic and non-GMO. Offering Vegan, sugar-free, 99% Pure CBD Isolate infused. The products are formulated with CBD extracted from pesticide-free, organically grown, domestically produced, High-CBD Industrial Hemp. Lab-tested and guaranteed Pesticide and Chemical-free.  Our proprietary blends also contain USDA certified organic botanicals, herbals and essential oils to provide synergy with other healing elements found in nature.