By Jon Cooper, CEO
We’ve been approached by lots of folks over the last month asking us, “Why the heck did you give up your license to work with marijuana and THC?” On the surface, we understand that it seems completely unnatural to so happily give up something that we fought so hard to get and maintain over the last few years.
But please read on to understand our reasoning, because we couldn’t be more jazzed about where we’re headed next.
At the end of 2014, the first year adult-use cannabis sales were legal in Colorado, we went through all the required bureaucratic steps to procure a license to produce THC cannabis products.
Over the last three years, we proudly created products that were pure, potent, high-quality and predictable. Our GENESIS product was designed to maximize activation at a particular cannabinoid receptor site in the nervous system (the CB1 receptor site), resulting in a potent, uplifting, functional, repeatable experience. Our Aqua Drops were pre-measured, micro-dosed and dissolvable in practically any liquid. They were fast-acting and sessionable, so that users could take control of their experience. Our WELL products were carefully designed purified cannabis extracts in specific ratios of THC and CBD for consumers seeking the holistic benefits of cannabis.
But after producing our own successful line of products for three years, it became clear that everything we were trying to create in our products was actually a baseline for what mainstream consumers needed in all cannabinoid-based products. Consumers want and deserve safe, consistent, efficacious products that will give them control over dose and titration.
So using our history in the market, we decided to think bigger and better. We wanted to take the wealth of knowledge we had gained to help bring a larger variety of products to market by collaborating with other companies and licensing our one-of-a-kind, industry-leading cannabinoid formulations.
By shifting our focus, we now have the capability to support dozens of other businesses, finding synergy between our technology and their ideas and products. We know there’s a great opportunity to use our scientific research capabilities and technology platform to power other people’s medicines and recreational creations with singular solutions that bring our values—consistency, predictability, repeatability—to a larger group of consumers.
To truly take advantage of our technology platform, we needed to shift to a global perspective. By giving up our THC license and focusing on hemp-derived cannabinoid formulations, we have the opportunity to create products that are not constrained to specific state markets. For example, while our Aqua Drops were previously only available inside state-regulated dispensaries in Colorado, our forthcoming collaboration with Blue Moon founder Keith Villa—a delicious, sessionable, non-alcoholic beer with THC (and other cannabinoids) known as CERIA—will be available wherever Ceria chooses to license and distribute its products.
And our recently announced partnership with Hardy Boy Farms will give ebbu’s botanists the opportunity to test how particular strains perform in the greenhouse environment, continuing ebbu’s patented work in plant genetics to maximize cannabinoid output by boosting in-plant cannabinoid production and cultivating rare-cannabinoid-specific plants. And unlike THC, these non-psychoactive cannabinoids can cross state lines and power products sold outside of the state-regulated cannabis markets—think convenience stores and health food grocers—expanding our formulations’ reach considerably.
We look forward to sharing the results of our research and clinical trials with cannabinoids beyond THC and CBD, as well as the functionality of terpenes.
As we made our way through the early days of regulated cannabis, we immersed ourselves in understanding the complex regulatory processes and requirements. And as we did with our THC license, we are committed to following appropriate regulations around non-THC cannabinoids, making sure that our technology platform can be put to responsible use throughout the U.S. and around the globe.