Innocan Pharma is a Canadian pharmaceutical technology company with two distinct businesses: an early-stage drug development program and a functioning consumer wellness e-commerce operation. The pharmaceutical arm centers on LPT-CBD, a proprietary injectable that encapsulates synthetic CBD inside liposomes for slow, sustained release over roughly four weeks following a single subcutaneous injection. Preclinical studies suggest near-complete bioavailability, compared to just 6–20% for oral CBD. The target indication is non-opioid chronic pain management in both humans and companion animals. Innocan has not yet filed an IND with the FDA, though it completed a pre-IND meeting in mid-2024 and the FDA indicated LPT-CBD may qualify for the 505(b)(2) abbreviated approval pathway, which would allow reliance on safety data from Epidiolex, an approved oral CBD drug. Innocan's intended commercial model is to develop LPT-CBD through key regulatory milestones and then out-license the technology to established pharmaceutical or veterinary companies, with revenue coming from licensing fees, milestones, and royalties. The consumer wellness segment operates through B.I. Sky Global, a 60%-owned joint venture that sells non-CBD personal care and beauty products primarily through Amazon in the U.S. B.I. Sky identifies product gaps through data analysis, sources manufacturing from third parties, and relies heavily on Amazon advertising and platform infrastructure to drive sales. This segment is currently the sole source of revenue and cash flow for the company. Innocan carries a going concern qualification and is largely dependent on IPO proceeds to fund LPT-CBD clinical development.