CannaTech is a high intensity event. The stakeholders are made up of high quality groups that provide amazing knowledge and networking opportunities. The presentations are geared towards a clinical approach to medical cannabis and the importance of developing intellectual property for building long term solutions that improve patient health outcomes. CannaTech makes the industry a smaller place by bringing together the best of health science, current clinical research, business developments, and networking opportunities for the cannaceutical industry.
Cannabis is in clinical trials.
There are many products that are in clinical trials in Israel, and Tracy Ryan, the CEO of CannaKids described her pathway towards becoming an advocate of clinical trials for CannaKids products. Companies like hers are developing products that may have the potential to treat specific types of disease, but must be proven in clinical studies to transform anecdotal evidence into clinically proven evidence based medications. It is a huge step in the right direction as statistically relevant studies are needed to prove the efficacy of cannabis against the claims made by companies concerned about product liability.
Smoke can be liquid… or at least can be made water soluble.
Dr. William Levine described the state of clinical research for the Ci therapeutics and iCansleep product. He made the relative comparisons from their research showing how their proprietary formulations can both decrease sleep onset latency and total sleep duration. Their partnership with iCan is backed on a proprietary cannabis combustion system that combusts raw plant materials and condenses them for recovery and compounding into their formulations. Finally, they have an FDA approved nebulizer that completes the whole package. If there was one company I would pay royalties to use their IP, it is Ci therapeutics and iCansleep.
Distribution will be the central point of activity in California.
Alcohol distribution is a tried and true model. Alcohol distributors pick up brands that they can qualify for meeting quality specifications and requirements, and then distribute the brands through their networks of buyers. This will change the face of cannabis distribution, and will likely a major taxation hub within the industry. There is much talk around block chain enabled software platforms to track and trace all transactions.
Ancillary businesses are the best investment.
It is not easy being a manufacturer of GMP Cannabis, or recreational cannabis, for that matter. The risks associated with manufacturing are huge, and it is a fact that commoditization (see below) of cannabis will continue to drive wholesale prices down. Ancillary business, should expect growth as manufacturing competition forces the market to adopt lean processes and eliminate waste. This provides endless opportunities for entrepreneurs to find ways to help manufacturers improve their bottom line.
Cannabis is a commodity.
Arcview market research paints the this point in one simple diagram. Cannabis wholesale prices are compared to spinach wholesale prices. This clearly describes the situation observed in cannabis micro-economies, such as Colorado and Washington states, where prices continue to decline. If businesses are not implementing lean manufacturing strategies and planning for the long term, they will likely struggle to compete in the future.
There are hundreds of people and firms that show up to CannaTech events, and the crowd is filled with people who understand cannabis, the science behind it, clinical studies, and Good Manufacturing Practices. They are the representatives of the medical cannabis community, which is being coined as the cannaceutical community. They are groups that are looking for clinical evidence of cannabinoid therapies, and their seriousness is evident in the content of their conversations.
CannaTech is the place for networking regardless of its location. It’s not a trade show, it’s a conference where investors are exposed to the latest advancements in cannabis. Sessions on cannabis science, Good Manufacturing Practices, and sound intellectual property investments evoke conversations and networking that leads to international opportunities. It encourages collaboration and embodies what I’ve gathered to be, the Israeli entrepreneurial spirit. All that said, I look forward for the opportunities to come from attending CannaTech in Tel-Aviv.