How does trade media serve the cannabis industry?

This week we’re joined by Chris Walsh, CEO and President at Marijuana Business Daily (MJBiz), B2B media and events company.

Join us as we explore the company’s beginnings, its business model, and how Covid-19 has impacted the industry.

Chris served as the founding editor of Marijuana Business Daily during the company’s launch in 2011, becoming the first journalist in the United States to focus exclusively on covering the business of cannabis. He now oversees the company’s day-to-day operations and strategic initiatives. Chris has been quoted as one of America’s foremost cannabis industry analysts by dozens of media outlets, including Harvard Business Review, NPR, CNBC and the New York Times. He earned an MBA in international business from Regis University.

•  Chris is a journalist by trade and worked across newspapers in the USA on their business desks. He covered a variety of topics including airlines, technology, and the economy. 
• Chris was studying for an MBA in 2011 when he connected with the two other co-founders of MJBiz Daily, who were looking to launch a news service for the cannabis industry. 
• At the time, this was seen as a risky move from a professional standpoint, but there was a gap in the market for marijuana B2B communications.
• Chris didn’t come from a marijuana background, and so took an objective viewpoint on the matter. He was also seen as an outsider because of this.
• Over time, the platform evolved to launch professional business events within the industry.
• When MJBiz Daily launched, the cannabis and marijuana industry was very gimmicky, with an emphasis placed on getting high and escapism - MJBiz Daily took an alternative view, aiming to create a sense of professionalism within the industry. Their corporate stance was subsequently embraced by many. 
• Upon launching, the platform was called ‘Dispensary Insider’ which served as B2B trade media for the dispensaries. It started off as a blog, but pivoted towards journalism and events, and conferences after monetisation proved difficult.
• Much of the platform's revenue comes from events such as the Cannabis Business Conference in Las Vegas which had 35,000 attendees.
• Chris has seen more mainstream media covering cannabis within the past two years with more media focusing specifically on the industry, or with dedicated journalists who are knowledgeable around the topic.
• Things move incredibly fast within the cannabis industry as it is not yet a mature market - things change so quickly that you have to be flexible, nimble and responsive. MJBiz Daily, along with many other businesses within the industry find it difficult to plan ahead because of this.
• MJBiz plan to expand into other areas such as whitepapers which will serve the growing number of scientists and researchers in the area.
• Chris suggests that Covid-19 will bring innovation to the industry as we are forced to communicate online, it will also bring pain - with some companies not making it through.
• Chris’s family were incredibly supportive of his cannabis ventures including his Auntie who is a Catholic nun.

‘3-4 months in the cannabis industry is like a year in any other industry’ 29:15

‘The mid term to long term future of this industry is very bright’ 41:20

Join Chris on LinkedIn:https://www.linkedin.com/in/chris-walsh-8a15864/

MJBiz Daily: https://mjbizdaily.com/

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
https://www.linkedin.com/in/nikita-cretu-b24b83a8/
Connect with Thomas Gray on LinkedIn:
https://www.linkedin.com/in/thomas-c-s-gray/

🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc 

What are terpenes and how important are they to the cannabis plant? 

This week we’re joined by Dr. Ethan Russo, physician, researcher, and leading expert in the field of Medicinal Cannabis. 

In this episode, we discuss all things terpenoid, including how they are produced, varieties commonly found in cannabis, and their therapeutic benefits. 

Episode Summary

Dr. Russo was classically trained as a neurologist, but turned back to a teenage interest in medicinal plants when he realised he was prescribing increasingly toxic drugs to his patients. In the early 90’s he became interested in treating headaches and migraines, and took research trips to the Amazon rainforest in Peru to work with native tribes who treated the condition with botanicals.

When he returned to the USA he knew that he wanted to change his career path, and became interested in the medicinal properties of essential oils, terpenes and terpenoids.

Dr. Russo became interested in using cannabis medicinally and started the Journal of Cannabis Therapeutics. He quickly became an expert in the field, and worked as a consultant for GW Pharmaceuticals who had obtained a permit to grow cannabis for medicinal purposes in 1998.

Later on he became a Senior Medical Advisor and was heavily involved with the development of Sativex and Epidiolex.

The first cannabis derived pharmaceutical approved by the FDA was Epidiolex, which contains a 98% pure cannabidiol compound and is used to treat Lennox-Gastaut syndrome and Dravet syndrome.

To get a drug approved by the FDA often requires between 10 and 12 years of research and between $700m and $1.2bn of expenditure.

Dr. Russo has recently founded CReDO Science, who create innovative products and services related to cannabis and the endocannabinoid system, outside the realm of THC. Projects include over the counter treatments, novel extraction techniques, nutritional cannabis products, cannabis based disinfectant, and diagnostic tests. 

Terpenes are the aromatic components of plants which can be found in the leaves, bark, flowers and sometimes roots. They are used in aromatherapy which is the science of essential oils. 

An example of this is lemon oil, which denotes cleanliness and is a cleaning agent. The terpene responsible for this aroma is Limonene, which can be found in citrus fruits.

Selective breeding for high THC strains means that many of the new strains have a dominant terpene of Myrcene, which interacts with THC to produce sedative effects.

Dr. Russo is currently conducting a piece of research which looks into the effects of using THC with differing terpenoids, using memory tests as a measure.

There are over 20,000 identified terpenoids, none of which (so far) are unique to cannabis. Alpha Pinene and Limonene are the most abundant in nature but are not found in cannabis very often. 

In cannabis, Myrcene and Caryophyllene are often found, which interact with CB2 receptors. Caryophyllene is both a terpene and a cannabinoid.

In any cannabis sample, there are on average 3-5 prominent terpenoids along with trace amounts of many more.

Terpenes act as a defence mechanism for plants, their strong smells either promote pollination, deter predation by insects or to prevent grazing by mammals. 

Cannabinoids and Terpenoids are both produced in Capitate Glandular Trichomes which are most abundant in unfertilised female plants. 

Many terpenes have pain reducing effects which work through distinct mechanisms. 

Quotables

‘Terpenes are critical components to the medicinal effects of cannabis’ 04:20

‘Essential oils are extremely potent, so the amounts involved are tiny’ 22:25

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
https://www.linkedin.com/in/nikita-cretu-b24b83a8/
Connect with Thomas Gray on LinkedIn:
https://www.linkedin.com/in/thomas-c-s-gray/

🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc 

How and why has the status of cannabis changed over time?

This week we’re joined by the legendary Steve DeAngelo, internationally renowned cannabis activist and advocate who founded some of the biggest names in the business including The Arcview Group, Harborside Dispensaries and Steep Hill Labs.

In this episode, Steve discusses why cannabis reform is finally happening, his non-profit campaign - The Last Prisoner Project, and why he believes cannabis will become the most valuable commodity in the world.

📚 SHOW NOTES AND EXTRAS:

https://www.cannabis-conversation.com/blogs/episode60

Episode Summary

Steve is a renowned and globally recognised cannabis activist and advocate who has founded numerous companies within the space.

Steve starts the show by talking about the ways in which our brains change when we consume cannabis, comparing this to the Covid-19 crisis.

When we consume cannabis or other psychoactive substances, our brains start perceiving  and feeling in new ways, knocking us out of the ‘default mode network’ - the place where our brains spend most of their time. This phenomenon is explained here by Michael Pollan. 

Steve’s business success has come from his evaluation of the cannabis landscape, creating and solving problems where the most pressing need was. 

The goal for Harborside (one of the first legal cannabis dispensaries in the USA) was to create a ‘gold standard’ cannabis retail experience, which looked and felt like a ‘normal’ one. Steve wanted to create a store which would fit into any community, without opposition. 

Harborside was so successful that it turned over millions of dollars worth of sales per year and received a large amount of media attention.

Attitudes towards cannabis change over time depending on country and political climate and are ever changing. Steve refers to the current time as the ‘cannabis renaissance’.  Steve suggests that prohibition pseudo-science is falling away as it is being replaced by legitimate clinical research from countries leading in the medical space such as Israel.

Steve suggests that cannabis reform is starting worldwide, after he spent 200 days last year travelling to and researching emerging cannabis markets. Steve also thinks that cannabis will become the most valuable product in the world as cannabis becomes a widely used raw material. 

Hemp as a raw material can produce more biomass in one season than you can in several years for trees. Cannabis sequesters 1.8 metric tonnes of carbon for every acre of cannabis, pulling poisons out of the soil without the need for pesticides. 

We are now seeing cannabis reform due to a number of reasons including: younger generations are now moving into positions of political power, we are realising that the way we are living is unsustainable, and there has been an increase in scientific studies proving the efficacy of cannabis.

Steve founded The Last Prisoner Project - a nonprofit organization dedicated to freeing inmates convicted of nonviolent cannabis crimes. As a legal cannabis industry is built around the world, there are many people still serving prison time for cannabis related activities, although those activities are now legal. The aim of the project is to serve justice, and free those who have been incarcerated for these crimes.

Steve grew up with civil rights activist parents who inspired him to be the person he is today. He was exposed to activism from an early age. Although liberal in many senses, they first opposed Steve’s cannabis use, damaging the relationship between them. 

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
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🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

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This week we’re joined by Rahul Bhushan and Stuart Forbes from Rize ETF, who offer a Medical Cannabis fund for those looking to invest in this emerging industry. 

We discover what an Exchange Traded Fund is, it’s advantages over single stock investments, and discuss some of the legal and compliance issues for investors looking to invest in the global medical cannabis industry.

→ View full show notes, summary, and access resources here: https://www.canverse.global/shownotes/episode-59-accessing-global-medical-cannabis-investment-opportunities-with-rahul-bhushan-and-stuart-forbes-from-rize-etf

Episode Summary

ETF stands for Exchange Traded Funds, which are funds that are traded on stock exchanges similar to stocks. The funds can contain a range of bonds and shares in one package and are highly regulated. 

ETF’s can be traded throughout the day unlike standard mutual funds which can only be bought and sold at the end of the day. 

They operate like UCITS (Undertakings for the Collective Investment in Transferable Securities) funds, meaning investments will be shared across multiple companies and are not limited to one public limited company.

A thematic ETF selects stocks which are relevant to a specific investment theme, often an emerging market such as the medical cannabis industry in this case. Medical Cannabis companies are still very new as a whole. 

Rize ETF launched with both a Medical Cannabis and Life Sciences ETF and a Cybersecurity and Data Privacy ETF, and will be expanding their range of investment opportunities in the future.

Rize ETF recognises themes and upcoming investment opportunities from market research which is how they determine where to split investments. 

They have partnered with industry experts such as New Frontier Data within the cannabis space who provide expert insights and recommendations.

Pharmaceutical cannabis companies make up roughly 62% of the Medical Cannabis ETF fund, along with 10% who come from Big Pharma. Other companies which make up the ETF come from CBD, hemp, and farming. 

The companies within the ETF come from a range of geographical areas across the globe including Israel, UK, Columbia, Hong Kong and North America.

All companies are subject to strict inclusion and compliance guidelines, and are vetted to make sure they are operating legally, with any company not complying with the rules being added to an exclusion list. All exclusions are cited and made public for investors to see.

This allows consumers to be able to invest in cannabis without having to worry about being caught out by the Proceeds of Crime Act (UK), which prohibits investment in a foreign company if that company’s activities would be illegal in the UK (even if that activity is legal in the company’s home jurisdiction). 

Thematic investment strategies have been impacted by Covid-19 just like the rest of the financial markets which too, have taken a tumble. Rahul suggests that it will be some time before these markets start to recover.

Resources

Join Rahul on LinkedIn: https://www.linkedin.com/in/rahulbhushan/

Join Stuart on LinkedIn: https://www.linkedin.com/in/stuart-forbes-18591348/

Rize EFT on LinkedIn: 

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
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🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

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This week we’re delighted to be joined by Aurélien Bernard and Benjamin-Alexandre Jeanroy from Paris based Augur Associates, a strategy & public affairs consulting firm specializing in the European cannabis industry. 

Together, Aurélien and Benjamin-Alexandre give us a high level overview of cannabis in France, including France’s medical cannabis research, it’s conservative attitudes towards Cannabis consumption, and its innovation within the industrial hemp industry. 

→ View full show notes, summary, and access resources here: https://www.canverse.global/shownotes/episode-58-cannabis-in-france-with-aurlien-bernard-and-benjamin-alexandre-jeanroy-from-augur-associates

• Benjamin-Alexandre worked in Drugs Policy for the United Nations Office on Drugs and Crime in Panama and Laos and was inspired to work on a national level in France after realising that change was hard to come by. This is where he met Aurélien.
• Before working in Cannabis, Aurélien worked as a manager within media companies. He went on to create Newsweed, the leading cannabis media outlet in France and in the French language. It takes an objective stance on the industry. 
• A year and a half ago, Agur Associates was born with the idea of creating the first consultancy in France which focused on the sustainable cannabis and hemp industry.
• In France, education around cannabis is limited and is given in schools by policemen who take a negative stance towards its consumption.
• France is one of the slowest countries to adopt progressive policies in Europe although it is the biggest hemp consumer in this geographical area. 
• Cannabis consumption in France is regulated against a law which was passed over 50 years ago. In 2018, cannabis consumption was reviewed and medical cannabis was found to be favourable - and so a small study began to test its efficacy against 5 conditions.
• A french doctor can prescribe medical cannabis although the patient will not be able to fill their prescription within the country. Returning to France with the prescription would also be illegal since it is not legal to possess at this current time. 
• In France, CBD is considered a grey area and is not strictly regulated, therefore many low quality products are available. 
• CBD is available in shops and online stores although retailers run the risk of being shut down by law enforcement at any stage. The law is very much interpreted and enforced on a case by case basis. 
• France was the first country to produce industrial hemp in Europe and the industry is still strong, France has over 17,000 hectares of hemp in production. 
• There has been a great deal of innovation within the hemp industry in France - Bugatti even uses hemp as a replacement for glass fibre in some of their car parts. 
• Cannabis is featured more regularly in mainstream media within France and attitudes are starting to change.
• Aurélien suggests that France is a very conservative country despite what people think and therefore it is incredibly hard for things to move forward. 

Join Benjamin-Alexandre on LinkedIn: https://www.linkedin.com/in/benjaminalexandrejeanroy/

Join Aurélien on LinkedIn:  https://www.linkedin.com/in/aurelienbernard/

Augur Associates LinkedIn: https://www.linkedin.com/company/augur-associates/

Newsweed Website:

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
https://www.linkedin.com/in/nikita-cretu-b24b83a8/
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🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc 

This week we’re joined by the incredibly passionate Michael Patterson, cannabis expert and CEO at US Cannabis Pharmaceutical Research and Development. 

Together, we discuss Michael’s worldwide business operations, why big cannabis want a piece of the market in Europe, and the ways in which Covid-19 has affected the cannabis market.

→ View full show notes and summary here: https://www.canverse.global/shownotes/episode-57-the-legal-global-cannabis-trade-with-michael-patterson-ceo-at-us-cannabis-pharmaceutical-research-and-development

• By training, Michael is a healthcare executive and occupational therapist and has a wealth of experience in the industry, including running a nursing home group worth $230m. 
• In 2014, Michael connected with a war veteran, Saul who had been using opiates for chronic back pain sustained in service. At the time, he was withdrawing from opiates and was interested in using medical cannabis for his pain. 
• This encounter inspired Michael to take action, and so he entered the cannabis industry to help other people like Saul.
• In 2014, Michael founded US Cannabis Pharmaceutical Research and Development. The company is focused on moving society forward through legalized Cannabis and Hemp. They consult, collaborate, and partner in all aspects of the industry including, but not limited to, investment analysis, R&D, operations and compliance management, international transport and trade, laws-regulation, technology (blockchain, crypto), licensing, banking, cultivation/processing/dispensing, and economic development. 
• The company currently have 5 medical cannabis licenses in Africa (Tanzania, Democratic Republic of Congo, Uganda, Zimbabwe, and Lesotho) and one in Portugal. They also import and export cannabis products into and out of Europe, and are contracted to grow cannabis for THC in Africa.
• Michael founded US Cannabis Pharmaceutical Research and Development are also working with companies across the world within the areas of software, blockchain, and cryptocurrency.
• THC is considered an ‘API’ or an Active Pharmaceutical Ingredient, which is then sold to pharmaceutical companies to process and make medicine from. 
• In the USA, the average proportion of a state who qualify for medical cannabis is 2-5%.
• Big Cannabis is interested in the European market as medicine in this part of the world tends to me more socialised and the government tends to pay for medicines. The population of Europe is much larger than the USA, so many of the big players from North America are hoping to gain market share in the EU as the market develops.
• CBD processing plants in the US are diversifying as there is a trend towards growing hemp for fibre and industrial uses.
• In the USA, access to cannabis is considered essential during Covid-19, which legitimises it as a medicine.
• 93% of Americans want medical cannabis legalised, and 65% want recreational cannabis legal. 
• Many of the states in the USA who did not previously allow home delivery have now been forced to due to the pandemic. Sales of flower and edibles have also risen during this time.
• Michael believes that public safety, patient access and commerce all need to work together in harmony for the system to become/remain successful.

Moving into 2021, you’re going to start to see a bigger interest from pharmaceutical companies who want to get more involved [with cannabis] 13:38

The EU is where to be. Everybody wants to be there. 14:20

Covid-19 will legitimise cannabis as a medicine 31:10

Join M

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
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🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc 

This week we’re delighted to be joined by Carly Barton, leading medical cannabis campaigner at the forefront of patient advocacy in the UK. 

Together, we discuss cannabis for pain management, potential changes to cannabis law in the UK, and the issues faced when trying to access medical cannabis.

• Carly started using cannabis for pain following a stroke when she was 24 years old. Following the stroke, she was diagnosed with damage to her central nervous system, meaning she was in constant pain.
• Carly was also diagnosed with Fibromyalgia which was caused partly due to her damaged nervous system post-stroke. Fibromyalgia is a long term condition which causes widespread pain across the body and is seen as a neurological condition whereby the central nervous system is damaged and misfiring pain signals. Fibromyalgia-related pain can often cause somebody to ache all over or feel tender. Those suffering can also experience twitching muscles, still joints, and deep stabbing pains. 
• Carly spent years trying to manage her pain through prescription medicines which included opiates (co-codamol), benzodiazepines and even transdermal fentanyl, which is deadlier than heroin when misused. 
• Her pain was not managed with prescription drugs so she started looking for other options, including cannabis which she was hesitant to use to start with.
• Carly was so desperate to relieve her pain that she reluctantly smoked a joint after being left some cannabis by a friend. When she smoked, she immediately felt the absence of pain, so started consuming it in novel ways to try and find the best fit for her. 
• Carly then became involved with The United Patients Alliance and other campaign groups.
• At the moment, Carly is working on a few projects including a female-led collective which will build awareness and education, alongside reducing stigma around the female use of cannabis. 
• She is also running Carly’s Amnesty, which is a campaign calling for patients to register to grow their own cannabis without fear of prosecution from police. The campaign has already seen hundreds of chronically ill people across the country write to their local Police and Crime Commissioner, calling for respect and amnesty for individual’s consumption of cannabis for medicinal purposes. It was started after Carly was unable to sustain the monthly cost of her private medical cannabis prescription (£1500 per month).
• Carly’s amnesty rejects a system where chronically ill people are criminalised for treating themselves with a medicine that they legally qualify for simply because they cannot buy exemption.  Carly highlights that there are many inconsistencies within the UK regarding punishments for the possession of cannabis, each police force across the UK seems to be taking a different stance on this. This is therefore unfair to those who are policing, those who are possessing and those who are prosecuting.
• For Carly, CBD isn’t enough to control her pain and spasticity, she prefers consuming high THC strains and has found these control her symptoms better. Luckily, Carly didn’t face any stigma or opposition when telling her family about her cannabis use, although her partner did struggle with the presence of the media/having a public profile. 

Join Carly on Twitter: https://twitter.com/carlyjbarton?lang=en

Join Carly on LinkedIn: https://www.linkedin.com/in/carly-barton-11a098181

Carly’s Amnesty Organisation: https://www.carlysamnesty.org/

United Patients Alliance: https://www.upalliance.org/

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
https://www.linkedin.com/in/nikita-cretu-b24b83a8/
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https://www.linkedin.com/in/thomas-c-s-gray/

🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc 

How is the investing landscape evolving in European cannabis?
 
This week we’re joined by David Bonnier, founding partner at Enexis AB, Stockholm based investment company within the legal cannabis industry. 

Join us this week as David shares his insights into European investment in the space. We discuss attitudes towards cannabis in Sweden, why investing in ancillary businesses is a good idea, and why North American businesses are so keen to invest in Europe.

Episode Summary

• After David graduated, he worked at Deutsche Bank within business development in their global markets and equities division, where he stayed for 6 years. He then moved over to working in Hedge Funds where he stayed for 12 years, moving around the world with his job. 
• David had a family member who developed cancer and who was in a great deal of pain, this was when he started researching Cannabis for pain management. This was where his interest started.
• Three years ago David decided to enter the business of Cannabis, with investment from multiple family offices he launched a European based investment vehicle Enexis AB.
• ENEXIS AB focuses on investing in companies involved in plant-based medical, wellness and industrial applications, notably cannabis and hemp.
• To date the company has made 12 investments, 7 of which are in Europe. 
• Initially, CBD companies and medical cannabis companies were readily available, but the ancillary part of the market is now evolving at a rapid pace.
• The company has invested in companies such as Cannabis Europa, Prohibition Partners, Dragonfly Biosciences, and AlphaGreen. 
• Sweden is very conservative country in regards to the consumption of drugs, there is a strong stigma against drugs in the country which is taught to children from a young age.
• There is a government drug strategy called the Comprehensive Strategy for Alcohol, Narcotics, Doping and Tobacco (ANDT), who update drug policy regularly. Despite this, Sweden has the second highest number for drug related deaths in Europe, with an increase in drug supply and drug related deaths in recent years. 
• Debate around drugs in Sweden is very polarised and specific debates around medical cannabis have been lost in the chaos. There have been government sponsored surveys looking into attitudes towards drug consumption as a whole, but never any specifically geared towards using medical cannabis. 
• Many North American cannabis businesses have made investments into Europe in a panic due to uncertain markets on their home soil. David wonders how profitable these ventures will be in the short term.
• Although CBD and cannabis companies do not tend to have issues opening bank accounts in Europe, loans are hard to come by. 
• Enexis AB are focusing on brands and ancillary businesses, alongside vertically integrated businesses for their high profit margins.
• Vertically integrated businesses are those who facilitate both the production and distribution of their products, the benefit to these businesses is that margins are protected if parts of the industry for example the production of raw materials collapse. These businesses are very efficient within Europe as products can be shipped across borders without punishment, this contrasts with the USA where it is illegal to cross state borders with cannabis products. 
• The public collapse of the Canadian market in 2019 has affected the amount of funding available to private companies, with less now being available.

Quotables

The market in Europe has developed probably a lot faster than we expected, and the level of teams and confidence are better than we expected on the offset 06:00

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
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🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc 

How important is the endocannabinoid system? 

This week we’re delighted to be joined by Endocannabinologist & Certified Cannabinoid Medicine Specialist, Dr Rachel Knox. Rachel occupies many roles within the cannabis space and is a leading cannabinoid medicine expert, having delivered a Tedx talk on the endocannabinoid system. 

Join us as we discuss the ECS’s role within the human body, the dangers of THC overconsumption, and potency regulation.

Episode Summary

• Rachel is one of four doctors in her family, who are all interested in using cannabis medically.
• The endocannabinoid system keeps in balance the body's other physiological systems and was discovered in the late 80’s/early 90’s.
• There are over 21,000 peer-reviewed research papers between cannabis and the endocannabinoid system. This number far outweighs the papers on any other named drug or bodily system.
• Rachel is the chair of the Oregon Cannabis Commission, an organisation who provide guidance and advice to the Oregon Health Authority (Government Agency).
• Rachel is also working with the Minority Cannabis Business League Association, a not for profit business league created to serve the specific needs of minority cannabis entrepreneurs, workers, and patients/ consumers.
• Another one of Rachel’s roles is a board member for The American Academy of Cannabinoid Medicine.  Its members are clinicians and researchers active in the field of endogenous, plant-derived and synthetic cannabinoids and those who support the medical use of cannabinoids. It is the gold standard for the education and dissemination of clinically relevant information in the emerging field of cannabinoid and endocannabinoid medicine. 
• The academy is hoping to create a fellowship track for specialisation in Endocannabinoids and Cannabinoid Medicine, meaning doctors will be able to become board certified. 
• The endocannabinoid system (ECS) is a complex cell-signalling system identified in the early 1990s by researchers exploring THC.
• Every mammal has this system, which keeps us in balance and modulates other systems within the body including the endocrine system, neurological systems and the skin.
• Endocannabinoid receptors exist on a cellular level within mitochondrial membranes in every one of our cells. When we are sick or diseased, we experience endocannabinoid dysfunction.
• It is possible to metabolise THC and CBD at different rates. 
• Pharmaceutical drugs in comparison to medical cannabis and CBD are easier to measure, predict and dose, although they come with many more side effects. Plant-based medicine, on the other hand, provides similar symptomatic release at lower doses. 
• The endocannabinoid system is often referred to as the endocannabinoid ‘dome’ as it operates in a way which is more than unilateral. Endocannabinoids bind to receptors from all bodily systems. 
• The recreational desire for consuming cannabis is to ‘feel’ something, meaning strains of Cannabis with high potency THC have been selectively bred to fill this consumer demand. 
• Although Rachel sees cannabis as a broadly safe substance, there can still be issues with its medicine derivatives. For example, CBD Isolate, Epidiolex can cause nausea, sedation and liver toxicity at high doses. 
• THC potency is not widely regulated within the USA, which has led to an increase in cases of Cannabis Hyperemesis Syndrome in markets where adult use is allowed. The remedy for this condition is THC cessation. Research indicates that frequent use of high potency THC products is the cause. 
• It is incredibly hard to study multiple phytochemicals together, which is why we don’t have much scientifi

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
https://www.linkedin.com/in/nikita-cretu-b24b83a8/
Connect with Thomas Gray on LinkedIn:
https://www.linkedin.com/in/thomas-c-s-gray/

🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc 

How easy is it to protect your ideas in the cannabis industry?

This week we are joined by Jane Hollywood (Senior Patent Attorney) and Robert Stephen (Partner) from CMS, International Law Firm. 

Listen in as we explore intellectual property in the cannabis space, delving into what intellectual property actually is,  which types of protection are available, and how to go about protecting your ideas.

Episode Summary

• Intellectual property is ‘something you create with your mind’, this could be a story, an artistic work, a poem, a symbol etc.
• There are a number of different types including registered and unregistered rights, these differ with the type of material you have created. One of the main rights are patents which are registered rights intended to protect technical innovations or new solutions to a technical problem.
• Plant variety rights are able to protected for new and innovative varieties. Trademarks are also available for products or services which are attributed to a particular seller or retailer. Design rights and trade secrets are also protected. 
• Registered property means you have to make an application with the relevant independent body. Registrations are only given if you meet certain criteria.
• Copyright is an unregistered right, and is automatically given when you create certain works.
• Intellectual property rights tend to be national rights, patents are given within certain geographical areas such as Great Britain or Germany. 
• A patent gives the right to exclude, not practice. 
• 18 months after you file a patent application, it is published.
• Within the cannabis industry, things like breeding and strains are kept as trade secrets.
• In terms of medical cannabis, products which have specific mentionable and innovative qualities such as a sustained release are able to be patented.
• It is difficult to patent a naturally occurring plant. Many farmers see patenting certain plants too strict as it makes it difficult to breed other varieties in the future. 
• In the USA, plant patents are available with breeders exemptions. Plant variety rights only protect particular varieties whereas patents provide broader protection. 
• Genetic sequences are not patentable unless there is a utility for it. 
• The IP within the cannabis industry is comparable to the agriculture industry, there are no new developments within the industry regarding things that are ‘patent-able’.
• It is difficult to gain a trademark across the whole of the US for cannabis-related products. 
• Jane and Rob suggest that if you are a business in the Cannabis space the best way to protect yourself is to first audit your services and/or products, identifying what you are doing differently. From there you need to work out what you have which is protectable and what other people within the niche are doing. There is a lot to be learned from competitors. 

Resources

Join Rob on LinkedIn: https://www.linkedin.com/in/robertjohnstephen/

Join Jane on LinkedIn: https://www.linkedin.com/in/jane-hollywood-b3ab9315/

CMS Website: https://cms.law/en/gbr/

Cannabis and Intellectual Property article from Forbes: https://www.forbes.com/sites/kevinmurphy/2019/09/26/why-building-intellectual-property-in-the-cannabis-industry-is-so-difficult/#6206ae3e1fd

❇️ Get in touch at https://www.thecannabisconversation.co.uk

Connect with Nikita Cretu on LinkedIn:
https://www.linkedin.com/in/nikita-cretu-b24b83a8/
Connect with Thomas Gray on LinkedIn:
https://www.linkedin.com/in/thomas-c-s-gray/

🔋 The Cannabis Conversation is powered by Lumino - Europe's leading HR and Recruitment Agency specialising in building high performance teams for the legal cannabis industry. They work in three main verticals: Commercial, Medical and Plant-Facing. From HR advisory and executive search services to hiring support for full-time placements, consultants, or contract staff, Lumino has helped hundreds of companies of all sizes in the industry scale sustainably through the right people.

🌱 Need support finding the right talent to GROW your business? Book a call with our recruitment team at: https://calendly.com/d/zvg-y2d-tgc