Redfund Capital Corp (CSE:LOAN) says investee firm Biolog Inc is on the "cusp of greatness" as it outlined the progress of the Silicon Valley and LA-based cannabis infusion specialist.
In August, Redfund and Biolog signed a two-year term convertible secured promissory note for $800,000 with an annual interest rate of 14%.
Biolog's technology is protected by multiple patents, including a patent portfolio licensed from Lexaria.
This allows the dosing of almost any food or beverage with either cannabidiol (CBD), tetrahydrocannabinol (THC) or any combination of these or other cannabinoids.
"Our licence from Lexaria is what separates Biolog products from all others," said Biolog's chief executive Bruce Bauer.
"By incorporating the DehydraTECH drug delivery platform into our products, the bitterness and the earthy taste of cannabis oil are masked, and this technology ensures quick and effective transportation into the bloodstream without degradation in the stomach or liver."
Bauer noted that the cannabidiol (CBD) market was projected to reach $2.1 billion by 2020
Redfund chief executive Meris Kott added: "New delivery systems with patented technology have become extremely relevant in the cannabis medical arena.
"These cutting-edge discoveries will continue to make CBD and medical cannabis mainstream drugs in the very near futures. Biolog is a company on the cusp of greatness and Redfund is pleased they are an early-stage portfolio company."
Biolog, noted Redfund, is progressing rapidly in its research, intellectual property (IP) development and product expansion on its planned menu of product lines.
These lines are Cannastix, CannaTab and CannaPro protein powder.