It’s widely agreed that among the wide range of industries in the U.S., the cannabis and biopharma spaces are among the most rapidly developing. Between the high need for innovative medical treatments, the fast pace of technological growth, and their shifting regulatory landscapes, these two spaces almost seem destined to grow at phenomenal paces.
While both industries have their own advantages and difficulties, the biopharma and cannabis sectors have quite a bit in common. It should be no surprise to anyone that these two spaces are intertwined in many ways, and will likely grow in tandem in the coming years.
Here’s what experts have to say about the future of the cannabis and biopharma industries:
Sid Taubenfeld, CEO of TO Pharma, a medical cannabis research company conducting studies in Israel:
“The merger of traditional therapeutics and cannabis has led to better outcomes for patients with fewer side effects. In some diseases, cannabis studies have shown the reduction in doses and the discontinuation of certain medications that cause major side effects and reduce the quality of life for patients. I believe, in the near future, that cannabis companies can and will successfully address the opioid epidemic in the U.S.”
Frank Lane, President of CFN Media, the leading creative agency and media network dedicated to legal cannabis:
“Cannabinoids influence the human endocannabinoid system, which has been shown to impact memory, appetite, energy, stress, immune function, sleep, and even reproduction. With the legalization of cannabis, researchers in the biopharma space are finally able to explore potential therapies that act on this critical system. For example, companies like InMed Pharma are even applying the same techniques used in insulin synthesis to produce a wide range of cannabinoids that could have therapeutic potential.”
Dr. Andrew Kerklaan, President & Founder of Dr. Kerklaan Therapeutics, a robust line of doctor-designed, lab-tested cannabis products that provide pain relief, sleep aid, PMS relief, and skin health:
“As a company, we have benefitted from biopharma expertise through the stages of product development and manufacturing. It has been a big asset for us to be able to tap into a wide range of expertise that haven’t been available to the cannabis industry in the past. At the end of the day, the patient benefits tremendously from the resulting product quality. We look forward to future biopharma partnerships.”
Prateek Dwivedi, CEO of Ehave (EHVVF), a data-driven medical innovation company empowering the mental healthcare community with a next-generation of data-rich tools:
“We are seeing the deals where large biopharma companies have been deploying their stockpiles of cash to grow via M&A. One of the areas that will show strength for acquisition targets are cannabis companies that have molecules, such as CBD, that they can prove are effective and safe – these are molecules that the biopharma companies have not accessed yet. CBD companies that show any signs of generating any revenue in the near to mid term will be attractive.”
Chuck Siegel, President and CEO of BloomBoss, a designer of high-efficiency, high-performance LED grow room lighting and related accessories:
“The biopharma and cannabis spaces are intricately linked, not only through advancements in medical marijuana research but in the biopharma industry’s increasing focus on the profitability and potential of cannabis. Given the remarkable effectiveness of cannabidiol, as well as its status as a non-psychoactive compound, I suspect we’ll see the two sectors grow and work together in the coming years, much to the benefit of medical patients, business-owners, and taxpayers.