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Brian Murphy, CEO of NanoVibronix, stated, "Adding CBD gel to our portfolio of products should materially expand our target market to augment our PainShield line of products while creating an additional stream of revenue for our business.
"Including a CBD-based product is a natural extension of our pain management lineup. CBD will be a natural add-on to our over-the-counter PainShield product," said the CEO.
PainShield CBD is a fast-drying gel with functional ingredients, including nano particle-CBD, and a dry feel to prevent its PainShield transducer.
CBD used in this new product will be sourced from High Purity Natural Products, LLC, an FDA-registered manufacturer of hemp and CBD products.
The Company plans to market the product by Q1 of 2022, with widespread availability in the U.S. expected by mid-2022.
Related Content: NanoVibronix Shares Soar On Its Plans To Enter OTC Pain-Relief Market.
Price Action: NAOV stock is down 3.66% at $2.13 during the market session on the last check Tuesday.
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