BOULDER, CO--(Marketwired - Jan 15, 2015) - Peak Pharmaceuticals, Inc. (OTCQB: CTCO) ("Peak Pharma" or the "Company"), a growth stage company aiming to become a leader in the research, development and commercialization of safe, all-natural, hemp-based, medicinal therapies and supplements (Nutraceuticals) for both humans and animals is pleased to advise of recent corporate achievements.
The Company is extremely pleased to announce that since processing the first Canna-Pet™ order on October 16, 2014, the company has processed and shipped more than 3,000 orders, exceeding internal forecasts for product sales. The Canna-Pet™ products are available under a worldwide, exclusive licensing agreement held by Peak Pharmaceuticals, and are sold online (www.canna-pet.com) as well as through select veterinary clinics.
Additionally, the Company recently signed a lease for office and laboratory space at the BioScience Park Center which is located on the Anschutz Medical Campus at the University of Colorado, Denver. The laboratory is designed to establish a series of inflammatory assays and models with the goal of enabling the identification and characterization of hemp strains and extract types for the development of nutraceutical and supplement products aimed at the human health market. The company also aims to turn its own hemp crop, cultivated during 2014, into product prototypes for testing, production, and ultimately groundbreaking first-to-market retail products.
In related news, Company CEO Dr. Soren Mogelsvang has recently joined with the Rocky Mountain Hemp Association (http://rockymountainhempassociation.org/content) in a collaborative capacity aimed at offering insights into the areas of medicinal product development and commercialization with this rapidly growing group of regional industry stakeholders.
"We have been extremely busy as we continue to build momentum on a number of fronts in this fast paced industry," states Peak Pharmaceuticals President and CEO Dr. Soren Mogelsvang, who continues, "Launching into the companion animal sector has been a big and exciting opportunity for us. Our sales have been excellent and it's really gratifying to work with a consumer audience that is passionate about the product. We are very aware that the Pet Supplies market segment, which includes products such as our Canna-Pet product line-up, totaled $14 billion in 2013 and that 41% of pet owners have considered or tried various alternative therapies. That's huge. On the human side, the Global Nutraceutical Market is projected to reach $207 billion by 2016. Together, these numbers highlight that even a small market share would represent significant, sustainable and increasing revenues for our growing Company."
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information please visit www.peakpharma.com.
About Peak Pharmaceuticals, Inc. (OTCQB: CTCO)
Peak Pharmaceuticals, Inc. specializes in the development, manufacturing, sales and marketing of pharmaceutical-grade, hemp-based nutraceutical and supplement products for the human and animal health markets. The company aims to become a global leader in the research, development, sales and marketing of medicinal hemp and cannabinoid products. For more information visit www.peakpharma.com and follow us on Facebook, Twitter and LinkedIn.
About Canna-Pet™ Products for Pet Health
Canna-Pet™ is one of the first cannabinoid (CBD) product designed specifically for cats and dogs. Available over-the-counter, Canna-Pet™ produces veterinarian recommended, legal, cannabidiol (CBD) products for animals, made from industrial hemp and manufactured in the USA. Canna-Pet® products contain not only CBD, but carefully controlled ratios of other cannabinoids and terpenes which make the products uniquely effective. Now available under an exclusive commercial license agreement with Peak Pharmaceuticals, Inc. (OTCQB: CTCO). For more information visit: www.canna-pet.com.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the availability of additional funding; the early-stage nature of the industry sector; regulatory changes affecting the sale, transport or consumption of Cannabidiol or hemp based products by humans or animals; commercial impacts to the Company's business, related agreements, product development, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's current reports on Form 8-K. The Company does not undertake to update these forward-looking statements. FDA Disclosure: The statements in this news release have not been evaluated by the Food and Drug Administration (FDA). The products and statements mentioned in this release are not intended for humans, or to diagnose, treat, cure, or prevent any disease.