Today JUPW announced a multi-year agreement with Rigour International LLC
as the exclusive authorized distributor of Jupiter Wellness Products within the
Mainland of China and non-exclusive distributor for Hong Kong, Korea and South
East Asian markets.
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Jupiter
Wellness, Inc. (NASDAQ: JUPW) is a leading developer of cannabidiol
(CBD) based medical therapeutics and wellness products. The JUPW clinical
pipeline of prescription CBD-enhanced skin care therapeutics address
indications including eczema, burns, herpes cold sores, and skin cancer. JUPW
generates revenues from a growing line of proprietary over-the-counter skincare
products including its flagship CaniSun™ sunscreen and other wellness brands
sold through its robust distribution platform.
JUPW is NASDAQ listed and has an attractive share
structure with only
11,410,188 shares currently outstanding.
Ø JUPW Advances Clinical Pipeline of CBD-Based
Topical Treatments
On
April 29th JUPW announced an update on its clinical pipeline
of CBD-based therapeutic topical formulations including JW-100 for the
treatment of eczema, JW-200 for skin cancer, JW-300 for burns, and JW-400 for
herpes cold sores.
Commenced
Patient Enrollment for Skin Cancer: Study Completion Expected Q4 2021
The
JUPW JW-200 is designed to provide action and relief in the treatment of
Actinic Keratosis (AK), the most common precancer that forms on skin as a
result of exposure to ultraviolet (UV) rays. The objective of this double
blinded, placebo-controlled study is to evaluate the efficacy of JW-200 in both
the treatment and prevention of disease, with a primary efficacy endpoint of the
percentage of patients with complete clearance of AK lesions. An estimated 120
adults diagnosed with AK will be recruited, with an expected study completion
date of Q4 2021.
The
Skin Cancer Foundation estimates 58 million Americans have one or more AK lesions
which appear as raised, scaly discolored patches on sun-exposed skin. Left
untreated, approximately 20% of AK lesions progress to squamous cell carcinoma.
The skin cancer treatment market was $8.19 billion 2019 and is estimated to
reach $14.55 billion by 2027.
Preparing
for Upcoming IND Meeting with U.S. FDA for Eczema Phase I/II Study
JUPW is preparing for a meeting in Q3 2021 with the
U.S. Food and Drug Administration (FDA) regarding the Company's Investigational
New Drug (IND) application that it expects to file. JUPW will propose
its clinical protocol for a Phase I/II study based on the efficacy and safety
shown in the recently completed exploratory study of JW-100 for the treatment
of atopic dermatitis (eczema). The study showed that JW-100 cleared or reduced
eczema following two weeks of use in more than half of the subjects, achieving
ISGA clear or almost clear (1 or 2) with at least a 2-grade improvement from
baseline after treatment, versus 20% and 15% in the CBD-only and placebo arms.
The
global eczema market is valued at $10 billion and is expected to grow at a CAGR
of 13% through 2025. Ten percent of the U.S. population, or 31.6 million
people, have eczema, and according to NationalEczema.org,
86% of people are not satisfied with their current treatment.
JW-400
for Treatment of Herpes Cold Sores Expected to Commence Recruitment Q4 2021
The
double blind, placebo controlled JUPW study is now preparing for
recruitment of 40 patients with recurrent herpes labialis infection (HSV) who
had their initial infection more than one year prior. The primary endpoint is
the duration of the herpes labialis episode. The herpes simplex virus treatment
market was $4.8 billion in 2017. Nearly half of Americans age14-29 have HSV-1,
known as the cold sore virus.
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On
April 20th JUPW announced it has signed a non-binding Letter
of Intent with JustCBD and its affiliates to purchase 51% of JustCBD for $30
million in cash. Per the Letter of Intent, JustCBD would also receive a put
option to sell, at its sole discretion, the remaining 49% of JustCBD to JUPW
for an additional $30 million in a combination of JUPW common stock (not
to exceed 25% of the outstanding shares of JUPW) and preferred shares,
both valued at $5.00 per share.
The
closing of the transaction is subject to the completion of due diligence, the
negotiation and execution of definitive transaction agreements, availability of
financing and any necessary regulatory approvals. There can be no assurance
that the transaction will be consummated. A condition of the closing of the
transaction is that JUPW will enter into a 3-year management operating
agreement whereby key members of the JustCBD management team will be retained
by JUPW. In addition, it is anticipated that JustCBD will receive
representation on the JUPW board of directors.
JustCBD
is a leading global manufacturer, retailer and wholesaler of consumer CBD
products with over 300 SKUs across a wide variety of categories. Preliminary
unaudited 2020 consolidated financial statements of JustCBD and its affiliates
show approximately $28 million of revenue. JustCBD has engaged a leading SEC
audit firm to complete its audit, which audit is in process.
JUPW management believes this acquisition will be
highly accretive to JUPW and its shareholders and puts the Company at
the forefront of CBD consumer related products on the market today.
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On
March 11th JUPW announced that SRM Entertainment was on track
for the month of March to produce its highest monthly sales since the wholly
owned subsidiary was acquired in December of 2020.
SRM
designs, manufactures, and sells creative products and services globally to
customers including Fortune 500 companies with a focus in the hospitality
industry and the world's most iconic theme parks in locations including
Orlando, Florida, Southern California, and other high profile cities worldwide.
JUPW made a strategic decision to make an investment in
the hard-hit theme park and hospitality industry and acquire SRM to keep a
quality operation active through the pandemic. With hospitality venues and
theme parks starting to move towards fully re-opening, JUPW is seeing a
significant increase in purchase orders and shipments.
For
additional information on Jupiter Wellness, Inc. (JUPW) visit https://jupiterwellness.com/
All products mentioned in this article are THC-free and compliant
with the 2018 farm Bill
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