Establishes new subsidiary, Beijing Tenjove Newhemp Biotechnology.
Shineco, a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialised textiles, and other health and well-being focused plant-based products in China, announced that they have established a wholly owned subsidiary, Beijing Tenjove Newhemp Biotechnology to capture growth in the industrial cannabis market.
They have formulated a strategic development plan based on their experience in the Apocynum (a type of hemp) industry, and expects to expand in the industrial cannabis market including planting, cannabidiol (CBD) processing, CBD derivatives development and the comprehensive utilisation of industrial hemp.
CBD, a naturally occurring compound within the cannabis plant, has been used to study the treatment of epilepsy, depression and other psychiatric diseases, inhibition of cancer cell growth as well as the prevention and treatment of AIDS. [APBN]