Smokefree Innotec announced yesterday that it has formed a joint venture with an unnamed Colorado research and development corporation focusing on natural holistic and herbal medical compounds.

The business objective is to jointly develop and market several smoke-free high-tech natural and herbal pharmacological products, initially based upon an oral delivery system utilizing the innovative technology developed for the “Real Smokefree Cigarette”, said Smokefree Innotec in a press release.
Under this joint venture the company would provide its smoke-free products and devices, and its venture partner, operating out of laboratory facilities located in Colorado Springs, would provide all the medical extract formulations.
Thomas Schroepfer, the CEO of Smokefree Innotec, stated that the name of their joint venture partner was withheld because necessary approval to release that information was pending and that the information was "highly sensitive and proprietary to the company”.
Smokefree Innotec is in the business of designing, developing, manufacturing and marketing a hi-tech, nicotine delivery cigarette-like device which is completely smoke and vapor-free and tobacco-free. Schroepfer expects the joint venture to put his company “in the forefront of marketing our devices, delivering medical formulations of pharmacological extracts to dispensaries and healing centers already in existence, in compliance with applicable federal and state regulations.” (ci)