The Stanley Brothers, creators of the Charlotte’s Web CBD brand, are moving into pharmaceutical development with plans to produce medicines derived from cannabis and psychedelic mushrooms.
The brothers, who gained global recognition for pioneering non-psychoactive CBD oil to treat epilepsy, said they intend to expand their work into regulated, prescription-based therapies. Their focus includes potential treatments for autism, PTSD and depression.
The move comes amid rising global interest in cannabinoid and psychedelic therapies.
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Pharmaceutical companies are beginning to invest heavily in the sector, with AbbVie recently striking a deal worth up to $1.2 billion for a psychedelic-based compound aimed at treating depression.
Analysts estimate that cannabinoid and psychedelic therapies could generate more than $100 billion in global sales over the next decade.
However, both cannabis and mushroom-derived treatments still face strict regulatory hurdles despite growing scientific evidence of their medical potential.
Industry observers note that the Stanley Brothers’ track record with Charlotte’s Web gives them credibility as they attempt to shift from supplements to pharmaceuticals.