X-Change acquires Phytiva Brand from Cannabis Science

US-based publicly-traded company X-Change Corporation has acquired the Phytiva Brand of products including all associated rights and companies from the Cannabis Science.

The firm has also acquired the Cannabis CBIS European joint venture (JV) with Dupetit Natural Products, a German based natural hemp based cosmoceutical and nutraceutical specialty enterprise, for an undisclosed amount.

According to the firm, the first range of products to be released under the Phytiva Brand will be anti-aging skin care and rejuvenation products such as lip balms, extracts, supplements and dermal creams created using proprietary hemp formulations all targeting a wide range of cosmetic and ailment-related usages.

The company is planning to maintain a fast-growing procedure to develop on-going and dynamic lines, of retail, professional, physician-based, and private-label products for over-the-counter (OTC) sales under the brand Phytiva.

The firm is also planning to distribute its Cosmoceutical (cosmetic) and Nutraceutical (nutrition) products for OTC markets throughout Europe and North & South America.

X-Change said it will target the global Cosmoceutical market, which is estimated to be over $55bn on an annual basis.

Further, the company plans to market its anti-aging, rejuvenating products in a global campaign, which is currently estimated to be more than $274bn in 2013, with a market share of $119bn in fitness, disease, and appearance categories.

The firm said in order to gain the expected growth, few members from the CBIS management team will be joining its team.