3855 Quentin St., Denver
Interviewed: Albert Gutierrez and Tim Mathisen
How would you describe your company? What is your specialty?
MedPharm is a phytopharmaceutical and intellectual property holding company that has been created to develop innovative cannabis products, using accepted pharmaceutical formulation techniques, to reliably produce identifiable and replicable dosage forms for human use. Our goal is to research the “What, Why and How” behind cannabis and find out which compounds and delivery methods work best to help with a condition(s). To do this, we have built a state-of-the-art facility and coupled it with the brightest minds.
What do you offer consumers/clients that others don’t?
We offer very high-quality products that are formulated in a GMP-compliant laboratory. We control everything from the cultivation to the extraction to the analytical data and the formulation. This allows us to consistently and reliably produce dosage forms that will have a positive impact on the end user or patient. We also have a USP 797 cleanroom in-house that can be used to develop sterile dosage forms when clinical trials become available.
How and why did your company start up?
MedPharm was started because the need for consistency and reliability was apparent in the industry. There was also a need to better understand how cannabis can help people with a variety of ailments. We saw the need to create a company that could conduct research while formulating products that people could use and know that they are getting the best quality at a great price.
With the changing landscape of medical and recreational cannabis, what do you see as the biggest challenges to your progress as a company? Any advantages?
Those who operate in this industry know that there is red tape everywhere. For us at MedPharm, the biggest challenges are the ability to conduct clinical trials with partners at universities because of the federal prohibition on cannabis. Everyone at the federal level wants research but there are a lot of barriers with what can and cannot be done.
Another issue we see is that we in the United States are going to lose/have lost a great deal of marketshare in the world, because other countries are speeding past us. Canada for instance has a fully legal market that they are standing up, and this allows them the ability to make a global push with other countries. We are so scared to make a decision on what we already know is the right thing to do so instead we keep having conversations to make it feel like we are advancing as a country. It’s the definition of analysis paralysis.
There is opportunity in cannabis that we can capitalize on. We were the leaders in the world, especially in Colorado, with bringing the market to the mainstream. We can now help lead the research that helps to solve some of the serious issues we are facing. From the opioid epidemic to the great work that GW has done on epilepsy, it’s important to continue on that path. We have to remain relevant, and we have to remain competitive.
What words of advice would you offer anyone seeking to enter the world of cannabis business?
We say this all the time to people when we get this question: The world of cannabis is exciting and deflating all at the same time. You have to be tough mentally to be in this industry. Most people will read that and say, “Yeah, I can do it. I’m tough.” And maybe they are, and that’s great. We can tell you that we are mentally tough, and there have been times when our toughness has been tested. You can’t just throw money in and start a cultivation and expect to make a ton of money. Those days are gone. You need to have thick skin, a solid plan on more than just growing and truly know how to navigate this industry if you want to be successful. You should also know that we must work collaboratively as an industry to make things happen. There are no islands, because we fail together.
What are the goals and vision moving forward for your company? Where do you see your company in five years?
We see us involved in several clinical trials and expanding into other markets in the future. We see someone from our team getting a Nobel Prize for developing a cure to a disease and being looked at as the leader in extraction, research and formulation. We see our product lines evolving, and continually reinventing our approaches to all product lines.