BYND Cannasoft Targets Opportunities Across the Value Chain
September 19th, 2022
The global cannabis market is projected to grow at a blistering 22.9% compound annual growth rate to reach $44.4 billion by 2024. With more than 30 countries having legalized either medical or adult-use cannabis, nearly 160 million people (or about 5% of the global population) consume cannabis on a regular basis for health or recreational reasons.
While North America represents some of the largest legal markets, there’s little doubt that Israel has become the central hub for cannabis innovation. Professor Raphael Mechoulam discovered THC in cannabis in 1963 at Hebrew University and medical cannabis has been legal in the country since the 1990s – well before North American jurisdictions.
In addition to its status as a well-known research hub for biotechnologies and pharmaceuticals, the country’s temperate climate and the recent government approval of cannabis exports suggest that it could become a leading exporter of both high-quality medical cannabis and innovative new medical devices leveraging cannabinoids.
BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) represents a unique opportunity to capitalize on these trends with plans to handle everything from exporting medical cannabis to delivering powerful software to developing innovative new medical devices.
Deep Technology Expertise
BYND Cannasoft began in 2000 as a big data and customer relationship management (CRM) solutions provider to some of the largest companies in Israel, including major insurance firms and multinational organizations. Two years ago, the company pivoted its focus to the nascent medical cannabis industry and built a leading CRM solution.
Unlike a conventional CRM or ERP solution, the Beyond platform caters to the specific requirements of medical cannabis firms. For example, it gives growers a deep insight into all aspects of managing their cannabis farm and distribution network, enabling them to receive recommendations for irrigation cycles, fertilization schedules, lighting cycles, and more.
The company is developing the software in collaboration with the Weizmann Institute of Science in Israel, one of the world’s leading multidisciplinary basic research institutions in the natural and exact sciences. As part of the collaboration, the group is installing the software at greenhouses in the institute as part of the research and development efforts.
In addition to its CRM and ERP solutions, the company is developing a delivery platform that will enable customers to browse different strains and compare effects, potency, and even taste. After browsing and selecting their strains, they will be able to order these products for delivery directly to their door, creating a seamless user experience.
By connecting growers with customers, the company aims to eventually become the go-to virtual marketplace for all stakeholders in medical cannabis.
Moving Up the Value Chain
BYND Cannasoft plans to establish a 10,000 square meter indoor growing farm in the south of Israel on about 3.5 acres of land. In collaboration with the Bezinzsky family, a primary license holder, they aim to receive IMC-GMP licenses within a year and eventually export products to Germany’s nascent medical cannabis industry.
Currently, the company is in the process of transferring the license from the Bezinzsky family and applying for a license to build the indoor facility. The company also plans to build an internal breeding facility and recently applied for a breeding license. These efforts could transform the company into a medical cannabis producer over the coming quarters and years.
In the meantime, BYND is on the verge of obtaining a rare “constructive” license, enabling it to trade medical cannabis products and generate revenue without having to build out facilities or touch the substance. As a result, the company could begin generating immediate revenue by marketing and selling private label medical cannabis products from various third-party growers.
By leveraging its unique CRM and ERP solutions, the company is uniquely positioned to unlock value in these farms by optimizing yields and lowering costs. The access to raw plant materials also enable it to move further up the value chain and offer CBD and medical cannabis-based consumer products at much higher margins than selling raw materials.
For example, the company’s flagship EZ-G product aims to significantly reduce the symptoms associated with a variety of female reproductive health problems. Numerous research studies suggest that low-dose CBD oil can help alleviate these symptoms in safe and novel ways. The patent-pending device will use a razor-razorblade business model that involves adding a CBD oil cartridge to a medical device that efficiently releases CBD into soft tissues.
This website contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from those shown on the website including those factors discussed in filings made by us with the Canadian or US securities regulatory authorities. Should one or more of these risks and uncertainties, such as currency and interest rate fluctuations, increased competition, and general economic and market factors, occur or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements. The medical cannabis license is subject to the provisions of the medical cannabis unit in the ministry of health in Israel and there is no guarantee the company will succeed in getting it. The company intends to obtain approval for the EZ-G patent within the accepted timescales. Additional regulatory standards may be required, including FDA approval or any other approval for the purpose of manufacturing, marketing, and selling the device under therapeutic indications. There is no certainty that the aforementioned approvals will be received and all the information below is forward-looking. The model of the device that appears in the video is not a working device and is a visualization as a concept model only and there is no certainty that it will be compatible with the prototype of the product when it is made in the future.
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