Agritek Holdings, Inc. Announces Agreement Between Subsidiary Full Spectrum


Synthetic CBG Nutraceutical Products in New Test Pilot Program

LOS ANGELES, CA, Nov. 05, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Agritek Holdings, Inc. (AGTK) (www.AgritekHoldings.com), a fully integrated, active real estate investor and its wholly owned subsidiary Full Spectrum Biosciences Inc., an IP, formulation and white label provider for popular hemp brands RehabRx and Hemp Pops, today announced that Full Spectrum Biosciences and California based Biomedican Inc. (www.biomedican.com) have executed a Letter of Intent and are completing a joint venture agreement for the first test pilot program using Biomedican’s patented biosynthetic methods using yeast fermentation, to ensure the efficient production of high-quality cannabinoid profiles and compounds.

As featured in Forbes, Nasdaq and Axios, Biomedican generates cannabinoids and terpenes directly from proprietary yeast without costly plant cultivation or inefficient extraction and purification procedures in a scalable process and operation. Production facilities for biosynthesis cost a fraction of traditional cannabis cultivation and extraction facilities, enabling much more cost-efficient manufacturing within a certified laboratory setting.

In contrast to chemically synthesized compounds, the Biomedican natural, organic, non-GMO biosynthetic products are identical to those extracted from plants while offering higher purity than typically found in nature. In addition, the unique proprietary yeast is optimized to produce higher quantities of product at lower cost than competing biosynthetic methods presently being utilized.

By the numbers: According to a recent research note from Raymond James, the global cannabinoid biosynthesis market forecasted to be $10 billion by 2025. A number of startups are moving into the biosynthesized cannabinoid space, which Raymond James analyst Rahul Sarugaser has written is “synthetic biology’s next killer app.”

The conventional method of obtaining cannabinoids like CBD involves cultivating cannabis plants that contain the strain wanted, and then extracting the desired chemicals. Because some of the most in-demand cannabinoids occur in very low concentrations in nature, a lot of plant matter is needed, which means production costs can be several thousand dollars per kg.

“We are extremely excited to be entering the joint venture with Biomedican and to be one of the few companies chosen for the test pilot program for yeast generated synthetic cannabinoids for our nutraceutical and edible lines as IP of Full Spectrum Biosciences. This is truly next generation science within the cannabis sector and we hope our result driven research through this biosynthesis test pilot program and partnership with Biomedican allows the world wide nutraceutical and big pharma industries to take notice,” stated B. Michael Friedman CEO.

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