Subject: MAT
Company Initiates Plans to Build Oral Thin Film Manufacturing in the USA for Its Stop Smoking and Stop Vaping Products
NEW YORK, March 14, 2024 /PRNewswire/ -- Redwood Scientific Technologies Inc. (OTC: RSCI) is excited to announce significant milestones achieved in the year ending 2023 and its strategic plans moving forward. The company has conveyed to the Board its confidence in its role as a developer of innovative pharmaceutical products, positioning itself for sustained success over the next 36 months. Jason Cardiff, CEO of Redwood, has initiated discussions with the executive team to establish an oral thin film manufacturing hub in the United States. This initiative aims to make the company self-reliant by minimizing dependency on foreign-sourced pharmaceutical goods. In anticipation of its uplisting, Redwood is preparing to transition to the OTCQB platform, projected for April 2024.
2023 Company Highlights:
- Completion and audit of the 2023 financials and management reports.
- Submission of an application for NASDAQ listing, ensuring compliance with market requirements for free trading shares.
- Successful navigation of the patent application process for Oral Thin Film Manufacturing and the active ingredient in its groundbreaking Smoking Cessation products without challenge.
- Launch readiness of the fully developed product lineup, including TBX-FREE and TBX-VAPE-FREE.
- Approval from the Brany Institute on Redwood's IRB for clinical study protocol.
- Partnership with Jeeva Pharmaceutical for efficacy clinical testing at George Mason University.
About Redwood Scientific Technologies Inc.:
Redwood Scientific Technologies Inc., based in New York, is a leader in pharmaceutical innovation. Focused on research and development, Redwood strives to revolutionize the healthcare industry with sophisticated drug delivery systems and pioneering pharmaceutical products. The company's dedication to excellence, precision, and enhancing patient well-being underscores its commitment to finding unique solutions for better therapeutic outcomes. For more information, please visit www.redwoodsci.com.
CEO Statement:
"At Redwood Scientific Technologies, we are committed to developing safe and effective products to help the millions of adults and youths reclaim their lives from the clutches of nicotine addiction. Collaborating with this prestigious group will facilitate our mission," stated Jason Cardiff, CEO of Redwood. "Given the current crisis, particularly among the youth, and the alarming levels of nicotine in vape devices, our priority is to quickly bring our products to market for those in dire need."
Nicotine, found in cigarettes, vapes, and e-cigarettes, is profoundly addictive, serving as a stimulant and a sedative with detrimental effects on all bodily systems. It is reported that 8 million adults in the U.S. regularly use e-cigarettes, with an additional 28.3 million regularly using traditional cigarettes. Among these, 2.5 million middle and high school students are e-cigarette users, with 16.5 percent of high school students reporting current tobacco use. The CDC highlights that 60 percent of youth tobacco users have attempted to quit, alongside 54 percent of e-cigarette users also trying to cease use.
For further information, please contact:
Email: [email protected]
www.redwoodsci.com
SOURCE REDWOOD SCIENTIFIC TECHNOLOGIES
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