InnoCan - Founder and CEO, Iris Bincovich.
Founder and CEO, Iris Bincovich.
Source: The Investor Coliseum.
  • InnoCan Pharma (INNO) has received the FDA’s Technical Validation and Approval for marketing its Relief & Go pain relief spray
  • The approval will specifically allow the company to start marketing the product in the United States of America
  • InnoCan’s flagship over-the-counter spray provides short-term relief for joint and muscle pain
  • Reports suggest that the global market for chronic pain treatment will reach over C$143 billion by 2024
  • InnoCan Pharma (INNO) is up 5.13 per cent and is currently trading at 20 cents per share

InnoCan Pharma (INNO) has received the FDA’s Technical Validation and Approval for marketing its Relief & Go pain relief spray.

The approval from the Food and Drug Administration specifically allows the company to market the product in the United States. 

InnoCan’s Relief & Go pain relief spray is the first product of the company’s Derma CBD product line to be manufactured. It is designed to provide short-term relief for joint pain, and to target pain in the muscles. 

The over-the-counter, flagship spray contains magnesium oil, methyl salicylate, menthol, and CBD. The magnesium acts as a muscle relaxant, the CBD is anti-inflammation, and the menthol component is an analgesic.  

In addition to a spray, the formulation can also be administered through roll-on or lotion formats.

InnoCan’s co-founder and CEO, Iris Bincovich, commented on the news of the FDA approval.

“We are excited to receive the approval from the FDA to market our flagship pain relief product in the USA. 

“This represents the company’s ability to develop and practice breakthrough technologies to create new CBD-based products for the growing pain relief market,” she said.

According to the American Academy of Pain Medicine, chronic pain affects approximately 1.5 billion people around the worldwide. In a global population of approximately 7.8 billion people, this represents roughly 19.2 per cent of people on Earth. 

Research conducted by Prescient & Strategic Intelligence suggested that the global market for chronic pain treatment could reach approximately C$143 billion by 2024. 

InnoCan Pharma (INNO) is up 5.13 per cent and is trading at 20 cents per share, as of 1:10pm EDT.

More From The Market Online

The Market Online’s Weekly Cannabis Report – Feb. 23, 2024

Canopy Growth (TSX:WEED) is rolling out five new pre-roll products across its 7ACRES and Hiway brands.

Canopy Growth adds momentum with five new products

Canopy Growth (TSX:WEED) is strengthening its start to 2024 with five new pre-roll products across its 7ACRES and Hiway brands.

SweetWater Brewing inks partnership with Atlanta United FC

SweetWater Brewing, a subsidiary of Tilray Brands, has signed on as official craft beer partner of Major League Soccer’s Atlanta United FC.

The Market Online’s Weekly Cannabis Report – Feb. 16, 2024

Canopy Growth reported its fiscal Q3 2024 financials indicating a decline in losses as gross margins rise.