InMed’s VP, Sales & Marketing, Jerry P. Griffin, talks about how a change in legislation could impact the bioidentical cannabinoid manufacturing industry.
In this interview, Jerry explains the difference between bioidentical cannabinoids, which have the identical molecular structure as the plant-derived cannabinoid, and synthetic cannabinoids that do not have the same molecular structure as the plant-derived cannabinoids. BayMedica manufactures bioidentical cannabinoids.
He talks about the need for a framework from the FDA for cannabinoid companies to follow. This could open up the industry for large consumer packaged goods.
Jerry gives examples of compounds/molecules that are produced through biosynthetic ways to meet global demand. In addition, he explains how bioidentical rare cannabinoids can fill a need for consumer packaged goods (CPG) companies requiring large scale, batch-to-batch consistency to produce their health and wellness products.
BayMedica’s flagship product is CBC with recent sales increasing 120% in Q3 2023 compared to the previous quarter.
Watch the video on Benzinga.