The biotech (ASX:SCU) today told investors it was “extending the company’s stem cell technology to cannabis plant stem cells extraction to produce Traditional Chinese Medicine beauty products”.
The ASX did not doesn’t consider a shift to the more media-friendly cannabis plant as a change in business activity in regard to listing rules, the company said.
Stemcell United started out making traditional Chinese medicine products from stem cells extracted from dendrobium, or orchid, a popular ingredient in that field.
Stemcell United will now start extracting cannabis stem cells to produce ingredients for traditional Chinese medicine beauty products.
The company did not specify what kinds of beauty products it intends to make, nor how cannabis extract may be of benefit.
This is the first cannabis product line Stemcell United has revealed since it said it was getting into the marijuana market in March 2017.
In the half year ending in December 2017, the company made $168,000 from dendrobium products including bottled dendrobium infused bird nests.