BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) has expanded its focus from cannabis and computer software to include a new product used to prevent pregnancy and sexually transmitted infections.
On Wednesday, the Israeli company announced its entry into the global condom market and it plans to expand the patent on its EZ-G device — used for the treatment of vaginal health issues with CBD — to include a novel new “double-faceted” condom design that is currently patent-pending.
The global condom market is predicted to grow by approximately US$5 billion within the next seven years, according to Custom Market Insights. The company’s business move is partly inspired by that market researcher’s data.
The condom will have a “double pocket”, however that works, which will contain a lubricant that is evenly released upon entry, according to the patent application. BYND says the advantage of its condom design is its ability to dilute the lubricants with a combination of natural oils, like CBD, at low concentrations.
The evenly dispersed oil is intended to improve the level of intimacy and pleasure among users.
The company says CBD has become popular in sexual applications for a variety of reasons including its ability to alleviate pain linked to chronic conditions like endometriosis. Other reasons include its ability to increase pleasure, diminish stress levels and set the right mood, which can be attributed to the substance’s reaction with cannabinoid receptors in reproductive organs.
BYND says many consumers report that CBD works as a muscle relaxant, enabling more enjoyable intercourse.
“The expansion of our patent for the EZ-G device to include a double-faceted condom design could create additional value for BYND Cannasoft. Should we be successful with our patent application, the global condom market is fragmented, but growing significantly,” said Yftah Ben Yaackov, Director and CEO of BYND.
“Many of the leading vendors are opting for the acquisition of small and medium-sized vendors to increase their revenue share in the market. We will keep our shareholders updated on this new development.”
Lust and thrust gummies from Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) are another example of a sex-oriented cannabis product.