Cannabis Therapy Corp. (OTC: CTCO), a development-stage company focused on manufacturing and marketing pharmaceutical grade phytocannabinoids for the treatment of various disease and conditions, was recently featured on Fox Business News’ Opening Bell with Maria Bartiromo. In the interview, President & CEO Soren Mogelsvang discussed the medical cannabis industry and regulatory changes.
Watch the full interview on Fox Business News:
Many industry experts believe the legal cannabis industry will reach $10 billion in size by 2018 with more than 20 U.S. states having already legalized the drug. Started by biotech industry entrepreneurs, Cannabis Therapy Corp. is targeting a unique niche within the market for developing non-psychoactive compounds that are heavy in the medically proven cannabinoid (“CBD”) substances.
Unlike many biotech firms, the company believes it could have a drug on the shelves within 18 to 24 months, since nutraceuticals do not require FDA approval. At the same time, its CBD-based compounds would differ from nutraceuticals produced by companies like GNC Holdings Inc. (NYSE: GNC) or Vitamin Shoppe Inc. (NYSE: VSI), since a growing body of medical evidence backs CBDs.
The company is a relatively new entrant into the medical cannabis space, having transitioned its business in March 2014. With an experienced management team consisting of executives from the pharmaceutical and biotechnology industries, the firm is well positioned to capitalize on the industry’s growth by becoming a leader in the manufacturing and marketing of phytocannabinoid products.
In April, the company also announced the appointment of Dr. Cohava Gelber to its Board of Directors. With a PhD and MBA, Ms. Gelber has over 25 years of experience in the discovery and development of immune therapeutics and diagnostis for cancer, autoimmune diseases, allergies, and infectious diseases. Her scientific input and extraordinary vision should provide a valuable asset to the company over time.
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