NanoSphere Health Sciences To Report Revenue and Significant Sales Growth in Second Quarter

Published: July 4, 2018

NanoSphere Health Sciences To Report Revenue and Significant Sales Growth in Second Quarter

NanoSphere Health Sciences Inc., the biotech firm behind the patented NanoSphere Delivery System and the cannabis brand Evolve Formulas, today reports solid growth for this year’s second quarter.

The company has exceeded growth projections, experiencing rapid expansion and demonstrating unprecedented success since its inception in 2013. After four years of R&D, NanoSphere Health released the first of its Evolve Formulas cannabis products in January 2018, utilizing the NanoSphere Delivery System™ in order to nanoencapsulate cannabis molecules for transportation through the skin into systemic circulation within minutes.

The pioneering product, Transdermal NanoSerum, is now stocked in just under 200 dispensaries in Colorado and saw over 3,400 units sold in June 2018 – a rise of 35 percent in sales from May 2018, showing the increasing popularity of this first and only standardized delivery system for cannabis, which studies show increases bioavailability of the drug, eliminates adverse side effects and significantly reduces delayed onset of action.

NanoSphere Health Sciences recently entered into a partnership with Vertical – the largest fully integrated company in the legal medical cannabis industry – in order to bring Evolve Formulas products to California and Arizona through licensing IP for the NanoSphere Delivery System. Production of Evolve Formulas products in California and sale of the products through dispensaries is expected to begin in late August 2018.

These growth factors, along with the continuous momentum propelled by numerous awards, multiple patents and new product releases have led to significant revenue for the company in the second quarter of 2018.

“NanoSphere Health Science’s tremendous growth in the second quarter of 2018 is evident through boosted sales, the enthusiastic public reception of new Evolve Formulas products and acknowledgement of the unique science we bring to the world of nanotechnology and cannabis delivery. Our continued financial success is a reflection of our team’s dedication to vastly improving medical delivery across sectors. The NanoSphere Delivery System™ is the innovation that so many healthcare professionals and patients are looking for to change their lives, and these accomplishments inspire us to work even harder toward making the cutting-edge products more broadly available,” said Robert Sutton, Chairman, CEO and co-founder of NanoSphere Health Sciences and Evolve Formulas