Financialbuzz.com’s Latest Behind the Buzz Show: Exclusive Interview with President & Chief Executive Officer Gerald Commissiong of Amarantus Bioscience Holdings, Inc. Live on Wall Street
Amarantus Bioscience Holdings (OTC: AMBS) is a JLABS alumnus biotechnology company developing treatments and diagnostics for diseases in the areas of neurology, regenerative medicine and orphan diseases through its subsidiaries. The Company is also operating wellness stores in the United States through its majority-owned subsidiary Hempori, Inc.
Gerald E. Commissiong is President & CEO, Co-Founder and a member of the Board of Directors of Amarantus Bioscience Holdings, Inc. Mr. Commissiong has been responsible for leading the Company’s strategic transactions, licensing, research collaborations, mergers and acquisitions, and fund raising. He has raised over of $25 million to acquire and develop assets to build a robust therapeutics and diagnostics pipeline. Prior to becoming CEO in October 2011, Mr. Commissiong was the Chief Operating Officer. Prior to co-founding Amarantus, Mr. Commissiong played professional football for the Calgary Stampeders of the Canadian Football League. Mr. Commissiong received a B.Sc. in Management Science and Engineering with a focus on Financial Decisions from Stanford University.
CBD, the more commonly known name for cannabidiol, is one of more than a hundred compounds found in the cannabis plant. And while there are several perceptions within the public around the benefits of CBD consumption, the most widely known fact about CBD is that it is non-psychoactive. For most consumers, CBD products provide a variety of health-related benefits, brought on by pharmacological or psychological influencers. CBD oil is used in several medical applications such as for the treatment of anxiety and depression, stress relief, diabetes prevention, mitigation of pain, alleviation of cancer symptoms, and acne reduction. Overall, the increasing awareness about the medical applications of cannabidiol have caused several mainstream retailers to adapt and start selling CBD-based products. Among the retailers are CVS Health, Rite Aid, and Walgreens Boots Alliance. In addition, many countries began to adopt CBD-based products for medicinal purposes. And the global cannabidiol market is expected to increase from USD 303 Million in 2018 to USD 2.28 Billion by 2025 while registering a CAGR of 33.5%, according to data compiled by QY Research.
Much of the growth estimated is a result of CBD’s recently acquired status as a health and wellness product. According to an article published Forbes, until recently, cannabis was looked at as medicinal- or adult-use. With CBD, a third cannabis category – wellness – is emerging. Supporters of CBD in a wide variety of products claim the compound works on everything from headaches to aching joints, relieves anxiety and skin conditions, as well as relaxes and rejuvenates all parts of the body. Yet, despite all the positive buzz around CBD products, obstacles remain and the regulatory infrastructure around such products remains complex. Currently, most of the regulations surrounding hemp-derived CBD–especially as it relates to the consumer package goods (CPG) marketplace–are the domain of the FDA, which states that it is currently illegal to market CBD by adding it to a food or labeling it as a dietary supplement. The FDA also claims that some CBD products are being marketed with unproven medical claims and are of unknown quality. Yet, earlier in 2018, the FDA has approved one CBD product, Epidiolex, oral solution for the treatment of seizures associated with two rare and severe forms of epilepsy. “This approval serves as a reminder that advancing sound development programs that properly evaluate active ingredients contained in marijuana can lead to important medical therapies. And, the FDA is committed to this kind of careful scientific research and drug development,” said FDA Commissioner Scott Gottlieb, M.D.
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