Oct. 7, 2022
Ethan Russo, CEO at CannabisResearch.org & Nishi Whiteley, Chief Operating Officer at CReDO
Dr. Ethan Russo and Nishi Whiteley have worked together for almost 10 years in efforts to:
- improve the scientific understanding of the endocannabinoid system (ECS) and how the cannabis plant modulates it
- assist small and large cannabis companies in product formulation
- advise companies on cannabis genetics enhancements
- consult on pre-clinical and clinical research design.
“We share a vision of making cannabis better and safer believing in a future in which knowledge of the endocannabinoid system and its therapeutic modulation via the cannabis plant will result in superior highly individualized medicines, aids to wellness, enhanced lifestyles, and novel non-toxic industrial products”.
Ethan Russo, MD, is a board-certified neurologist, psychopharmacology researcher, and author. He is the Founder and CEO of CannabisResearch.org. Previously, he was Director of Research and Development at the International Cannabis and Cannabinoids Institute (ICCI) based in Prague, Czech Republic. Medical Director of PHYTECS (2015-2017), a biotechnology company researching and developing innovative approaches targeting the human endocannabinoid system, and from 2003-2014, he served as Senior Medical Advisor, medical monitor, and study physician to GW Pharmaceuticals, United Kingdom for numerous Phase I-III clinical trials of Sativex® for alleviation of cancer pain unresponsive to optimized opioid treatment and initial studies of Epidiolex® for intractable epilepsy.
Nishi Whiteley (pronounced Nee-sha), is the co-founder and Chief Operating Officer at CReDO. She has twenty-five-plus years of international business development experience in cannabis, agriculture, wellness, green energy, and food industries. She has had leadership roles on projects in corporate America and for the US Foreign Ag Service in over 10 countries, in startups, a state agency, and non-profits; as well as worked for foreign governments and met with international leaders in Cuba, Mexico, and the Dominican Republic to open trade and advance development programs. She has worked on investment projects in 8 countries.
WEBVTT
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Welcome to the Latin MedTech Leaders podcast, a conversation with MedTech leaders who have succeeded or plan to succeed in Latin America.
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Please subscribe on your favorite podcasting platform.
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Apple Podcast, Spotify, Google Podcast.
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Amazon Music is teacher.
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Tune in.
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I heard radio, Pandora, or these are
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Welcome to the Leaders podcast, a conversation with leaders who have succeeded or plan to succeed in Latin America today.
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Our are, and Wiley, I hope I'm pronouncing your name correctly, Anisha.
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They are co-founders of Credle Science, a company with a mission to commercialize patented products generated from their investigation of the cannabis plant and the endocannabinoid system making cannabis safer and better.
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So, Anisha, thank you for being on the show today.
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Welcome,
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Diaz.
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I told
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Thank you for having
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Us.
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.
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.
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All right guys.
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Uh, so let's get started.
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Uh, with your journey to Latin America, how is it that you got involved with the region?
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Let's start with N first.
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Oh, well, uh, I've always been very interested in Latin America and wanted to learn a second language.
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So Spanish being, uh, a Texan is, uh, the number one language that I really wanted to learn.
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And then after graduate school, I had the opportunity to work, uh, in Houston and work closely with the Mexican Consulate and a lot of, uh, businesses from Mexico.
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And then from there, I've had the opportunity to work through the Texas Department of Agriculture, helping develop trade with, uh, Latin American companies.
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And then later in my consulting practice, had the opportunity to do quite a bit of work in Latin America.
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And then when Ethan and I were working together at a, um, research institute based in Europe, we had the opportunity to work with a lot of companies in Latin America in the cannabis space.
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So I've worked in that area in food, agriculture, green energy, heavy machinery, And now, um, in, uh, cannabis also, side note wrote, uh, a report, uh, for the petrochemical industry where I followed all of the petrochemical plants in Latin America.
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And so I wrote a, a weekly report about their output.
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Great.
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You were quite an expert then.
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.
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Probably, you know more about Latin America than me.
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.
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Oh, I doubt that.
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.
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All right, Ethan.
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So how was it you got involved with the region?
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Well, first I have a personal, uh, story.
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Um, my, uh, paternal ancestors were Spanish speaking Jews in, uh, Northern.
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And my great-grandfather actually came to the States, uh, by way of Buenos and, um, my grandfather, his son-in-law, came to the United States by way of Chile.
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Uh, so there's that tie in there.
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Um, I've been very fortunate over the last 26 years to have visited, uh, Latin America numerous times related to research, either on medicinal plants, um, or cannabis in particular.
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I actually did my, uh, uh, sabbatical, uh, from my neurology practice in Peru, working with the Ma Inga tribe in the Amazon.
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I was in 1995.
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Um, and we've had numerous trips to Mexico, Columbia, Chile, Argentina, and Brazil, um, related, uh, to, uh, the work.
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Um, so we are well aware of the great opportunities in this area of commerce, cannabis in the under cannabinoid system.
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Fantastic.
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Ethan, thank you for that.
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And Nisha, thank you for, for that, uh, uh, introduction about your, your personal professional relationship to Latin America.
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And well, the, the idea of the podcast here is to portray, um, uh, or to, um, show examples of, uh, successful ventures into Latin America.
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So let's start the conversation with, um, your, uh, the trends that you see happening in the region.
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What economic, political, social trends, uh, et cetera, that you see that are relevant to the, um, to, to doing research or to commercializing medical innovations in Latin America?
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So, Nha, you wanna start?
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Well, you know, Latin America is a great place to grow cannabis.
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Um, there's great environment altitude, uh, is just right in so many places.
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And, um, there's also great historical knowledge of the plant in Latin America.
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And, you know, I foresee that there, there's a, a real trend towards natural medicine.
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And so people are curious about what the plant can do for them, even though the laws, uh, aren't keeping up with public opinion, uh, which is certainly the same here in the United States.
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We also see that, um, many Latin American companies are investing heavily in, in ensuring that they have excellent manufacturing facilities, um, many of which are trying to get EU GMP certification.
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And so, you know, we really foresee that Latin America has great promise as both, um, a grower and a manufacturer of a high quality cannabis products.
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Very good.
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What about you, Ethan?
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Well, just to go on from there, let's use the example of Columbia.
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Um, as Nisha alluded to, uh, cannabis actually produces a greater concentration of chemicals at higher elevation.
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So if we look at the and Dan region, um, we've got a combination of high elevation, uh, with very rich volcanic soil, um, and equitable climate, just the right temperature range, uh, abundant sunlight, and, uh, also abundant labor.
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This is the perfect recipe, uh, for cultivating cannabis.
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Um, when you couple that with, uh, talented, uh, talent pool, um, something I've learned, uh, in my career is they're bright and capable and resourceful people everywhere.
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And, uh, this is no less true in Latin America.
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Um, I'll give one example.
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Um, I attend a lot of conferences virtually or in person.
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Um, and I had the pleasure of, uh, listening to a presentation by a young chemist in Columbia on a topic, uh, about which I usually lecture.
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Uh, at the end of it, I thought, Gee, I, I really don't need, uh, to be here.
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Um, he did such a great job.
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Uh, so, you know, there are always, uh, good young people coming along, uh, to carry on the, the research.
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Very good.
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I see a lot of Canadian companies doing business in, in Columbia, uh, related to cannabis.
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Any particular reason why?
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Yeah, that's an easy one.
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Um, couple of reasons.
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One is the climate, of course.
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Uh, Canada is known as the great white North.
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There's snow cover a lot, uh, a, uh, a huge amount for heating and, uh, cooling in the summer as compared to, uh, in South America.
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You just pick your elevation and you have the climate that you need.
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Um, and then, uh, certainly, uh, economics, uh, run into it.
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Uh, labor is expensive in Canada.
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Uh, it's cheaper in, uh, Latin America.
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Um, hopefully this doesn't lead to exploitation, but it certainly presents opportunities for companies that, uh, need to, uh, watch their margins.
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Very good.
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It's a significant difference in terms of cost production between Latin America and Canada.
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Yeah, I'm sure.
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Yeah.
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Makes sense.
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Yeah.
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Uh, not so much with American companies.
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Well, I don't see, in the news that I read, I don't really see many American companies.
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Usually it's more, more Canadian companies.
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At least that's my perception.
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Maybe wrong.
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Uh, well, it's absolutely right.
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Uh, you know, again, it's a situation where, uh, cannabis is essentially legal in Canada.
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There are well over 260 licensed producers of cannabis in Canada, currently in the us.
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Uh, the number has been one licensed producer for decades.
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That's slowly changing, but the companies that are, uh, applying for licenses from the drug enforcement administration are finding a very tough go of it.
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Um, and oversight that is so rigorous is to be punitive.
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Um, so the fact is the remain considerable roadblocks to research in this country, and it's a compelling reason why I've spent most of the last 26 years working for foreign companies outside the us.
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Interesting.
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Ok.
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And, and, and also, I guess you have the issue of financing.
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Cause banks cannot, at least from what I understand, cannot lend money in the US to cannabis businesses, right?
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Well, it's hard to even get a bank account.
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We spent
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Really?
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Wow.
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Five banks in four states,
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Right?
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And then, uh, it's, it's only a cash business.
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Um, you know, it was a way of, uh, actually the policy is perpetuated crime.
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Uh, it's an everyday occurrence in the United States that even legal state dispensaries of cannabis are all cash businesses.
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And, uh, they get robbed regularly at gunpoint.
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Um, so no, it's a terrible, uh, policy that needs to stop.
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Wow.
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Cannabis businesses also cannot, uh, deduct their cost of good sold from their, uh, taxes in the same way that other businesses can.
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And so there are a lot of barriers to cannabis e commerce in the US that just make it really difficult.
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And those barriers don't exist in Canada.
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So the Canadian companies have so much more freedom to operate.
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I see.
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Now everything makes sense.
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, thank you for the education.
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I'm not an expert in cannabis.
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And actually, you are the second guest that I have here, the podcast that, uh, uh, can you speak intelligently, uh, about this topic?
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Well, it's immensely frustrating cause the opportunity here to innovate in the area of human health, medicine, animal health and wellness, and industrial solutions, um, really is extraordinary.
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And current laws around the globe greatly interfere with a tremendous amount of economic, pro pro progress and innovation.
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Sure.
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Even when things are relatively, uh, well, there's still a, in a legal state, it is still the case, Uh, particularly California, that regulation is strangling the industry.
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There are just countless, uh, cultivators, uh, that are, have gone out of business or going out of business because they just can't manage the tax structure or the other regulations.
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Um, so, you know, it, it's unfortunate in this country that there have been these, uh, this straight jacket on cannabis commerce.
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And again, um, we are interested in advancing this for the sake of human health and what the plant can provide.
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And so, uh, you know, I consider myself an earthling first.
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Um, we're going to go where, uh, the opportunities live, where we can do the work.
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Um, and, uh, that's just a fact of life.
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Okay.
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Okay.
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So are you aware of any legal developments in Latin America that in different countries that are, that is making cannabis more popular, or, uh, they're bringing these countries to the surface in for the industry?
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Yeah, there are a couple of factors.
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One is, uh, the courts have often ruled, uh, that, uh, use of cannabis as a constitutional right in various countries.
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Um, and, um, again, uh, there are many people interested in developing this area of commerce.
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New crops are always, uh, welcome, uh, to people in the agriculture field.
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Uh, so the opportunities are, are great.
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Um, and, uh, that's certainly becoming noticed.
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Uh, it's not to say that there aren't barriers in a given country, but, um, often they're less formidable than they might be in the us.
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Yeah.
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I, and I, the, the good thing about all this is that it doesn't look like the business can, can, or the business of cannabis can be independent of Latin America in, in, in, in many ways, it looks like Latin America is an integral part of the cannabis industry for the reasons we just mentioned, specifically Columbia, and Sure.
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And, uh, I understand just being legal developments in the country for the past 10 years, I've been seeing how, how the laws have changed to make it more favorable to, to grow medic cannabis and, and to export the flour and all that.
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So it looks like the country Yeah, go ahead.
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Uh, you know, right now, um, it's important that people understand, uh, that cannabis is not just, uh, a method of making THC or C b d, Teri, Cannabinol and cannabidiol.
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Those are only two of at least 150 related chemicals called cannabinoids that the cannabis plant makes.
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Beyond that, uh, they're terpenoids the aromatic components.
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There are 200 of those.
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Many of those also have medicinal properties.
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So the fact is that the potential of this plant medicinally, and also in industry, uh, other applications like, uh, insecticides from a plant, uh, is limitless.
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Um, so we, we know a great deal about cannabis, but we've only scratched the surface in, in terms of what it can provide.
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Another factor is, um, cannabis becomes accustomed to where it's growing and it will express different traits.
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This is a very resourceful plant.
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It, it adapts in the environment, um, and to deal with the bugs that are there, the growing conditions that are there.
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When a cannabis plant has been cultivated in an era for a long time, it's what's called a land race.
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Um, and often there are genetic traits that are extremely beneficial on this would be the case in colo or Mexico, where, um, cannabis has been cultivated for a long time.
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Um, these can contribute to our knowledge of the beneficial properties of the plant, Uh, and especially for breeding new types of, of cannabis.
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They're a great genetic resource.
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We're also involved with a company called Breeder's Best, um, that is designed to support the independent cannabis breeder.
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So if someone has a plant with unique traits, it's possible to get intellectual property protection for it.
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Part of that program is, uh, the, uh, novel cannabinoid discovery program.
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Um, there is a technology that, um, uses receptors, cell receptors, uh, to look for new chemicals.
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And, uh, without exaggeration, it's a million times more sensitive than current chemical analytic techniques.
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Um, so this offers great promise in finding out the new things, uh, that we need for medicine or industry.
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Um, and, uh, so, you know, this is a very exciting opportunity.
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Like anything else, uh, needs commercial backing, uh, but we're working on that too.
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Excellent.
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Very good.
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So, let, let's talk about your specific experience in Latin America or your plans in the region.
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What is it that you have done, uh, Ethan or nha, uh, in, in, in Latin America?
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Have you collaborated with researchers?
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Have you, uh, worked, uh, as consultants for local companies?
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Um, please elaborate a little bit more on that, that
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Sure.
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I'll let you go first.
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Okay.
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Well, um, as of late, we, Credo Science has not, uh, worked directly with any partners, but we certainly would welcome the opportunity to get to work with some Latin American companies, especially in terms of being able to assist them with formulation, uh, for medicinal products, uh, or pharmaceutical focused products.
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Um, also, we would really like to work with, um, Latin American companies in terms of providing certain clinical consulting services.
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Uh, but I would say that here in the last probably three years, um, I personally have had the opportunity to work with, I'd say four companies, um, in Mexico and Columbia specifically.
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Fantastic.
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Okay.
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Beyond that, we've been very involved in educational processes, uh, throughout Latin America.
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I, I've lectured in all the countries I mentioned, um, both in person and, uh, virtually, uh, to, uh, this week I'm giving a second lecture, um, to a program in Mexico.
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There were 500, uh, physicians and other professionals on the lecture I gave last week.
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Um, I dare say that I'm better known, uh, in Latin America than I am in, in my own country,
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,
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But, uh, and this is after lecturing in English, I'm afraid, uh, my Spanish, I don't have confidence in my Spanish to lecture that.
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That was really it.
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Um, you know, I, we really love the educational process and, um, the kinds of enthusiasm with which we've been met is really affirming.
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Um, you know, and, uh, I, I know many physicians, uh, throughout Latin America, these are terrific people with, uh, so much to offer patients.
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Again, they need the handcuffs taken off, uh, so they can provide better medicine to patients.
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When Ethan gets done speaking, he's usually mobbed like a rock star, and we spend 30 to 45 minutes of me taking pictures with all of his fans
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For.
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Awesome.
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That's so nice.
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Very good to hear.
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So, um, let's, let's talk about your plans.
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Any specific plans in Latin America for Crile science or any of your partners?
00:20:23.651 --> 00:20:26.089
What do you see coming, uh, to the region?
00:20:28.430 --> 00:20:41.440
Well, we have a couple of, um, high priority projects that we'd really like the opportunity to work, work on, but they all require some sort of a partner.
00:20:42.380 --> 00:20:50.480
And so we've listed those actually on our, our website, which is, uh, credo science.com.
00:20:50.880 --> 00:20:53.480
Under the, the projects tab.
00:20:54.319 --> 00:21:00.000
Uh, we have some information there about the things that are, um, most important to us.
00:21:00.529 --> 00:21:13.839
So, um, we're really looking to work specifically on neurodegenerative diseases, brain trauma, endometriosis, um, and anxiety disorders, just to make, um, just to name a few.
00:21:15.400 --> 00:21:15.400
Ok.
00:21:15.920 --> 00:21:15.920
Ok.
00:21:16.319 --> 00:21:16.319
Yeah.
00:21:16.759 --> 00:21:30.960
What I see is that a lot of foreign companies doing business in Latin America with cannabis, but I see very little, very few local companies that are homegrown and, and, and are doing something meaningful.
00:21:31.650 --> 00:21:33.358
So I wonder why is that?
00:21:33.359 --> 00:21:40.849
I mean, what needs to happen in Latin America for, for the region to have, to have, uh, companies,
00:21:40.849 --> 00:21:42.009
It requires capital.
00:21:43.240 --> 00:21:59.569
I I mean, this is, it's challenging because you're working against a global framework and a regional framework, national framework, state local framework that is all generally anti-cannabis.
00:22:00.069 --> 00:22:03.769
And so it, it really is a whole lot of swimming upstream.
00:22:03.940 --> 00:22:10.210
It requires, uh, passion for companies that are just getting into this for the money.
00:22:10.480 --> 00:22:13.730
This probably is not the industry for them.
00:22:14.650 --> 00:22:22.650
Uh, you, you have to really care about, uh, the potential the plant provides to human beings.
00:22:23.450 --> 00:22:29.569
Um, because if, if, if you don't have that passion for it, just, it's, it's gonna be too hard.
00:22:29.950 --> 00:22:43.210
And so it, it takes a sincere interest in people that want to make a difference and see the components of the cannabis plant as being a potential solution to important problems.
00:22:43.700 --> 00:22:45.490
So, um, that's first.
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