Steve Sadoff, CEO, CannaGlobal Wellness

Steve Sadoff, CEO, CannaGlobal Wellness

  • Post category:Interview

CannaGlobal, Sansero Life Sciences and Rise Wellness have merged to create a new psychedelics company, with the working name “CannaGlobal Wellness.”

We spoke to Steve Sadoff, CEO of the newly-formed entity, about his plans for the Company.

What does CannaGlobal Wellness seek to achieve in the remainder of 2020?

Our Focus in the short term is to rapidly launch our retail offerings including an adaptogen bar and wellness clinic in Toronto, ramp back up operations at the Rise Wellness Retreat as it becomes safe to do so (considering COVID19), all while developing and reinforcing the synergies within the newly combined entity.

What does the Company seek to achieve more broadly? 

We aim to make the world a better place by promoting and facilitating wellness through psychedelic-inspired and other natural medicines and therapies.

How will the team’s experience in the Cannabis industry inform the move toward the psychedelics space?

Our team has enthusiastically been pursuing passion projects in psychedelics and other plant medicines for the past several years, especially Dr. Darryl Hudson and Irie Selkirk, which have now grown into full-time endeavours.  Our combined cannabis experience has allowed us to take the learnings from patient, regulator, consumer behaviours to help inform our plans and execution in this new industry. 

In the press release announcing the new Company, psilocybin is mentioned quite extensively. Is this the only substance that CannaGlobal Wellness is focusing on for now?

In the near-term, our pharmaceutical development focus will be on psilocybin-based formulations with the potential for expansion into additional molecules in the future.

Dr. Drarryl Hudson, the Company’s CSO, made great contributions to the study of the effects of cannabis in treating PTSD. What ailments and disorders will CannaGlobal Wellness focus on targeting?

On the pharmaceutical side of the business, we’re targeting the indications of depression and ADHD, however Cannaglobal wellness is aiming to provide a variety of mood-enhancement approaches across our retail businesses.

Is there any indication on timelines for the Company’s development? What can we expect to see next, beyond the finalisation of branding?

We’re planning to open our flagship adaptogen bar in the coming months in Toronto, as well as launch our new corporate identity in the fall.

How is CannaGlobal Wellness an international Company?

Cannaglobal Wellness is a Canadian company with current operations locally and in Jamaica. Our retail offerings are designed for scalability, allowing us to rapidly expand into additional viable markets once the concepts have been honed.

In a separate interview, Gertner suggested that drug development in psychedelics is not as expensive as the typical process (compared to cannabis, for example). Could you elaborate on this?

Many of the molecules we’re exploring are naturally occurring and have a battery legitimate safety and efficacy testing completed.  This familiarity with the molecules can help to expedite the discovery and development process.  This differs from traditional drug development where novel molecule are synthesized and therefore require extensive safety testing prior to focusing on efficacy.

Many of our readers are looking to invest in this emergent space. Are there plans for any private financing opportunities, or to go public?

We’ll be communicating shortly our upcoming financing plans.

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