BioLife Sciences announced that it is expanding its recently announced orthomolecular medicine and natural health products department to now include a subsector dedicated to non-psychoactive cannabinoids derived from industrial hemp, including, but not limited to, cannabidiol (CBD) products. This new subsector will focus on clinical hemp natural health products in addition to non-psychoactive cannabinoid research and development. BioLife aims to focus on products highlighting hemp's naturally occurring cannabinoids (excluding any psychoactive cannabinoids such as THC), with a focus on CBD, CBG and CBN.

The company's focus will be founded in medical products, beverages, creams, salves, efficacious supplements, superfood concentrates, nutraceutical formulations, and advanced orthomolecular and natural health products. This latest announcement by BioLife is directly founded on the Company's recent acquisition of Health Box LLC, which facilitated the expansion of the Company's scope to micronutrients, medicinal herbal supplements, botanicals and holistic merchandise. CBD usage has steadily increased in the U.S. since 2018, with multiple peer-reviewed studies having confirmed that the cannabinoid may help with a wide variety of ailments and conditions, including, but not limited to, pain, stress, weight loss, anxiety and depression.

The Brightfield Group recently announced projections for the hemp CBD industry to continue to expand in 2022, with a projection of nearly 400% growth to $22 billion by the end of the year. CBD growth was driven mainly by ecommerce in 2020, as brick and mortar options were limited due to the COVID-19 pandemic. Consumers previously could purchase CBD products at vitamin shops, beauty retailers or medical practitioner's offices.

Even once these brick-and-mortar outlets reopened, e-commerce has maintained a driving force of the industry.