GOLDEN, Colo., March 5, 2019 /PRNewswire/ — Panacea Life Sciences further entrenches into the cannabinoid (CBD) marketplace with their acquisition of the 43,000 square foot former EPA building in Golden, Colorado.
To meet the needs of their growing customer base and rapidly emerging CBD market, Panacea has invested in additional capital equipment to increase production of its isolate and distillate hemp oil business. This includes a new CO2 extraction unit, soft gel unit and packaging machine. Full production at Panacea’s new facility is scheduled for April 1, 2019.
“Our new soft gel equipment will produce 2 million soft gels per day and will enable us to produce vegan soft gels and expand our range of products for human and pets alike,” explains Nick Cavarra, Vice President of Sales at Panacea. “In addition, we will be adding equipment for edibles and tinctures along with a new bottling line to meet the needs of our customers and white label partners. We continue to seek strategic alliances to expand the medicinal value and usage of CBD to the benefits of our customers.”
Panacea is proud to build their CBD Center of Excellence to use creativity and innovation to develop new CBD products with an emphasis on solving medical needs in humans and pets. As part of their Center of Excellence, Panacea continues research and development efforts with clinical trials yielding tremendous results and advancements in treating pain and anxiety.
“The new facility will expand our extraction and production capacity ten-fold. And, although today we adhere to Good Manufacturing Practice standards, we are excited to become fully GMP certified,” explained Dr. James Baumgartner, President of Panacea Life Sciences.
SOURCE Panacea Life Sciences