The medical marijuana (MMJ) space has been growing by leaps and bounds in recent years as the federal government continues easing their Schedule I enforcement regarding cannabis, allowing states to set the framework on their own so long as it abides by the dictates of federal guidance. This practice has led to 23 states and D.C. adopting some form of MMJ legislation.
One of the leading vectors within the MMJ space has been the extremely positive results that have continued to crop up as a result of testing cannabis therapies against a host of conditions. Of particular note are a variety of chronic/neuropathic pain conditions that can be treated with MMJ, with palliative therapy in cancer patients being one of the most well-known uses and the benefits over typical analgesics like opiates and NSAIDS (non-steroidal anti-inflammatory drugs) continuing to become apparent, especially considering the well-documented appetite simulative effects that are key for conditions like inflammatory bowel disease. Such results have big pharma understandably concerned, as more and more of the pain control market is eaten up each year by MMJ, and the rising star of cannabidiol (CBD) is one of the biggest threats to the pharmaceutical status quo.
CBD is a non-psychoactive compound derived from cannabis which is potentially quite potent depending on the particular strain of cannabis used, even despite the fact that a given strain may be very low in THC (the psychoactive component), as is the case with the now-famous Charlotte’s Web strain used to treat the cripplingly severe seizures of Charlotte Figi, a seven-year-old girl with Dravet Syndrome (a rare and catastrophic form of intractable epilepsy), which caused her to experience multiple seizures per day. The Charlotte’s Web strain has almost no psychoactive effects, yet delivers powerful seizure control capabilities, detailing further the efficacy of MMJ treatment in general for neurological disorders well beyond neuropathic pain.
The anti-cancer prospects are even more tantalizing and with a large body of studies now built up showing broad-spectrum impact in oncology, consumers are getting wise to the potential of THC and CBD rich MMJ treatments. Marijuana Business Daily sees the domestic MMJ space growing to around $8.2B in the next four years, a staggering rise of 200% over the roughly $2.34B estimated by ArcView for this year. With obvious heavy-hitters like GW Pharmaceuticals (NASDAQ: GWPH) already seeing serious upside on their Multiple Sclerosis drug, Sativex®, and a much wider space rapidly emerging that features everything from sodas and edibles, to vaporizer pens and nutraceuticals, the MMJ sector continues to attract new players and investors alike.
One of these players, Cannabics Pharmaceuticals, Inc. (OTCQB: CNBX), is currently developing a wide range of indication specific medical cannabis therapies for various indications. The company’s flagship product, Cannabics SR, which is designed as a palliative care therapy for oncology patients, has attained GMP (good manufacturing practices) manufacturing capabilities last month, thus placing CNBX’s proprietary product among a select few market-ready offerings to date with this designation for quality. Cannabics SR is based on a sophisticated lipid based formulation that has shown in observational studies the ability provide 10-12 hours of steady state beneficial therapeutic effects for oncology patients upon a single oral administration.
The company continues to advance a broad-spectrum pipeline of offerings and looks to be one of the first to commercialize a range of clinically tested cannabis-based products designed for specific indications. The company is preparing to launch a series of clinical studies at leading medical centers in Israel where their R&D division is strategically located. Over 100 patients have already been treated in Israel with Cannabics SR according to the company’s latest report and they have achieved high levels of satisfaction from both patients and doctors.
More on Cannabics Pharmaceuticals is available at www.cannabics.com
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