'The Third Wave Of Rescheduling': Experts Discuss How Plant Medicine Is Taking Share From Big Pharma

"We're here to save lives," said Geoff Benic, CEO at Safety Strips Inc., a company at the forefront of harm reduction in the midst of the opioid pandemic.

Benic was one of the pioneering CEOs who joined Michael Astone, CEO at ArcStone Securities & Investments Corp, in a discussion about the third wave of rescheduling narcotics and plant medicine at the recent Benzinga Cannabis Capital Conference (CCC) in Chicago.

See Also: ArcStone Securities To Acquire Arcview Capital, Betting Big On Cannabis Industry

Safe Supply’s Global Approach

Bill Panagiotakopoulos, CEO of Safe Supply Streaming Co. Ltd, said he believes in taking a global approach to addressing the rescheduling of narcotics.

He noted the significant shift in the perception of drugs over the years, from cannabis to psychedelics, and now to the rescheduling of various substances.

Safe Supply Streaming focuses on investing in companies worldwide that are exploring the potential of MDMA, ecstasy, psilocybin, and even substances like cocaine for therapeutic purposes.

"We take a global approach to our core investments. We're looking at companies in Australia that are in the MDMA, ecstasy, and psilocybin marketplace. We're looking at Bern, Switzerland, that is promoting the motion to decriminalize and sell legal cocaine," said Panagiotakopoulos.

See Also: Australia Psychedelics Recent News

Harbor's Quest To Unlock The Power Of The Coca Plant

Setti Coscarella, VP of corporate development at Safe Supply and member board of directors at Harbour Solutions Importation Inc., talked about the company's mission to unlock the potential of the coca plant.

Harbor is focused on sourcing legal coca leaf extracts and exploring their applications, from flavoring agents to appetite suppressants. Moreover, Coscarella said he believes that the coca plant, with thousands of years of historical use, has much to offer the modern world.

"Coca-Cola [flavor] is coca leaf and cola. That's what creates that flavor profile. So for us, when we were taking a look at it, we said look, here's a flavor that practically the entire world enjoys," Coscarella explained. The company aims to integrate coca leaf extracts into a range of Consumer Packaged Goods (CPG) products, expanding its applications beyond traditional use.

See Also: EXCLUSIVE: Cannabis Companies On Importance Of Brands Going Mainstream, Entry Into Consumer Packaged Good Market

Safety Strips: Saving Lives Through Harm Reduction

Safety Strips is on a mission to save lives in the midst of the opioid pandemic. It provides fentanyl test strips, a vital tool in harm reduction. These strips allow individuals to test their drug supply for the presence of potentially deadly substances, offering a critical lifeline in the fight against opioid overdoses.

"We can save thousands and thousands of lives with this strip alone," Benic said. He envisions a future where these strips become as common as condoms, offering a practical and essential tool for harm reduction. Safety Strips aims to raise awareness and distribute these strips widely, making them accessible to individuals and communities affected by the opioid crisis.

The Changing Landscape of Drug Policy

Ronan Levy, advisor at Safe Supply, provided valuable insights into the changing landscape of drug policy. He highlighted the gradual end of the war on drugs, emphasizing that the transformation is already underway.

Moreover, Levy noted that policy changes are occurring in real time, with various jurisdictions decriminalizing and reevaluating their approach to drugs.

See Also: America's Deadliest Drug Crisis: Biden Administration Targets China's Role

Investing in the Future of Plant Medicine and Harm Reduction

"The estimated illicit market globally for drugs was about $360 billion," said Levy, underlining the vast market potential. Moreover, he pointed out the significant addiction market, valued at billions of dollars annually, and the emergence of mental health treatments that incorporate psychedelics. Levy predicted that these developments would shape a new era in drug policy and open up unprecedented business opportunities.

Michael Astone, moderator of the panel, stressed the importance of early investments in groundbreaking industries. He says the rescheduling of narcotics and exploration of plant-based solutions offer tremendous growth potential.

"We know we're early with these companies, which is why we're so thankful to be partnering with Benzinga and CCC because many of these platforms provide opportunities for investors," said Astone, highlighting that the companies on the panel are well-prepared for short-term growth, regardless of policy changes.

The future of narcotics and plant medicine appears poised for transformation. Want to know more about this topic? Tune in to the Benzinga Cannabis Capital Conference in Chicago. For existing subscribers, you can get direct access through our research platform. For new users, you can get instant access here! 

Image by Benzinga