Nanocap medical device company NanoVibronix NAOV announced it's developing cannabidiol patches and cream utilizing a proprietary and nanoparticle-based infusion process.
CBD is one of the naturally occurring cannabinoids found in cannabis. Cannabidiol oil is also called hemp oil, the extract from cannabis plants is also used to relieve pain associated with chronic conditions, such as arthritis.
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NanoVibronix produces the PainShield surface acoustic wave (SAW) device. NanoVibronix intends to make the CBD patch, as well as similarly formulated CBD cream available in combination with PainShield as PainShield CBD.
“Combining PainShield with proprietary, nanoparticle-based CBD could provide a powerful alternative to opioids by actually resolving, rather than masking, pain,” said CEO Brian Murphy.
The thinly-traded stock sits around $3.33 per share.
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