GOLDEN, CO / ACCESSWIRE / April 21, 2022 / Panacea Life Sciences, Inc. (OTCQB:PLSH), ("Panacea" or the "Company"), a Colorado, USA-based cannabinoid research and certified GMP manufacturing company has signed an exclusive product manufacturing agreement with Good Pharmaceutical Development Co. (Good Pharma) to produce their proprietary, highly concentrated line of Remei (formerly known as PainTX) CBD products for chronic pain.

Good Pharma has developed a proprietary, patented delivery system that has been demonstrated to effectively deliver high concentrations of hemp-derived CBD to areas of pain without detectable levels of CBD in the serum. Thousands of patients have been successfully treated with this unique product which contains 2200mg of CBD per ounce, making it the highest concentration available in a topical CBD cream.

Good Pharma was seeking a "full-service" CBD manufacturing operation that can provide premium CBD raw materials, manufacturing, R&D, and fulfillment services all under one roof. Panacea is but only a handful of CBD companies with the operational capacity and expertise to meet their needs in the industry.

The new Remei line of products will utilize Panacea's PANA Pure^® CBD to upgrade and improve the efficacy and quality of their products, as well as Panacea's manufacturing and distribution services to increase sales and improve operational efficiencies.

"I'm delighted to commence the new phase of product development and manufacturing of our award winning chronic pain relief cream with Panacea Life Sciences," said Dr. Larry Good, MD, founder and CEO of Good Pharmaceutical Development Co. "Panacea is years ahead in their industry knowledge and expertise in the CBD formulation space, and we felt very strongly that their management team and science-based operations would propel Remei to new heights."

About Good Pharmaceutical Development Co, LLC.
Good Pharmaceutical Development Co, LLC, was founded in 2015 with the mission to create topical non-systemic alternatives for the treatment of chronic pain. Our Board Members, Larry I. Good, MD, Mike Ferguson, and S. Andaz, MD have lifetimes of clinical experience, clinical and basic science research, and pharmaceutical development experience.

About Panacea Life Sciences Holdings, Inc.
Panacea Life Sciences Holdings, Inc. is a seed to sale cannabinoid manufacturer and research company that produces purposeful, natural medicine for consumers and pets. Panacea sells softgels, gummies, tinctures, sublingual tablets, cosmetics, and other topicals. If you would like more information about this topic or to learn more about Panacea and its products or our land-to-brand practices, please visit www.panacealife.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the effectiveness of CBD and other cannabinoids improving the lives of people and pets. You can identify forward-looking statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, risks arising from supply chain disruptions on our ability to obtain raw materials as well as similar problems with our vendors, the impact of the pandemic including new variants on the national and global economy, the impact on the Russian invasion of Ukraine on the global economy, lack of available funding at sufficient levels to meet our working capital needs, competition from third parties; intellectual property rights of third parties; regulatory constraints, including the need for FDA approval under certain circumstances; and changes in technology and methods of marketing; as well as those risks and uncertainties described by us in our annual report on Form 10-K for the fiscal year ended December 31, 2021 under the heading "Risk Factors". Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.

CONTACT:
Nick Cavarra
Nick.Cavarra@panacealife.com

SOURCE: Panacea Life Sciences, Inc