A new CRO has launched with the aim of supporting drug companies, academics and DEA scientists researching cannabis-based medicines.
The contractor - Cannovation Clinical Research Partners (CCRP) - was unveiled last week by biotech executive Lisa Rich-Milan, alongside seasoned cannabis industry leader, Michael Zaccaria.
In a press statement Rich-Milan, the former CEO of DEA licensed bulk cannabis manufacturer Maridose, said “we are committed to providing unparalleled support to companies seeking to harness the potential of cannabinoid-based therapeutics.
“We unite pharma, biotechnology, and Cannabis at the forefront of innovation, seamlessly connecting the dots for our clients.”
The firm will offer a range of services, from turnkey solutions for strategic market entry to systems to help developers navigate the intricate regulatory frameworks in the US.
Co-founder Michael Zaccaria, cited both the growth of the cannabis sector and growing industry interest in developing cannabis-based therapies as inspiration for the new organization.
"Cannovation Clinical Research Partners, LLC serves as a vital bridge between these industries, facilitating the development and commercialization of groundbreaking cannabinoid drugs."
Cannabis-derived drugs
According to recent research, the pharmaceutical cannabis industry was worth around $1.11 billion last year is expected to grow to $1.37 billion by 2027.
CBD and THC are still seeing the majority of development activity versus other cannabinoids, as they have historically. A large amount of activity is also focused on cannabinoids and compounds that are closely related to these cannabinoids, for example CBDV, THCV, CBDA, and relevant prodrugs and analogues.
The research also suggests that although there is a wide variation in the costs associated with each stage of the trials process, but even at the lowest end, bringing a cannabis-derived medicine to the market costs $20 million.
CCRP joins Maridose as a provider of clinical trial services to the pharmaceutical and academic research sector.
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