Tim Moore spent most of his career in consumer packaged goods (CPG) working for companies like Clorox and Brita.
He was looking to make a career change, pursuing avenues where he could add value and feel passionate about.
An opportunity with Xanthic Biopharma, a company that transforms THC and CBD into water-soluble formulations, seemed like the perfect fit.
“One of my five sons is a traumatic brain injury survivor. He was hit by a drunk driver about four years ago,” Moore told Daily Hive over the phone.
“After being diagnosed with being on the brink of an opioid addiction, he moved to cannabis and I believe that it has saved his life.”
When Moore looked at the emerging cannabis industry in Canada and the US, he felt it was something he could get behind, having seen firsthand the plant’s therapeutic properties.
“It fits in with something I’m passionate about and I can carry over my skill set,” said Moore, who is now the CEO of Xanthic.
“There haven’t been a lot of folks in the cannabis industry that have come through the traditional business training grounds,” said Moore.
“What you’re seeing now is a number of the larger companies hiring people from these other regulated CPG industries like alcohol, tobacco, and pharmaceuticals that are bringing a specific skill set.”
Cannabis is at a very different stage than other CPG because it’s a relatively new market.
“The cannabis industry is in the early stages and doesn’t have a lot of sophistication or business rules,” said Moore.
“What’s similar is that consumer behaviour is consumer behaviour and regulated products are all basically the same type of construct when looking at it as business. What are the rules of engagement, what are the consumer needs and how do you stay compliant?”
Moore said that he sees the cannabis industry going mainstream within the next decade, but that it’s hindered by stigma and history.
“You have folks that have been carrying around criminal records associated with cannabis that may or may not get resolved with legal changes. Other industries don’t have that.”
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Xanthic uses a proprietary process to convert THC and CBD into a water-soluble powder which is then formulated into a final consumer product.
“It comes in pre-packaged, individual portions so people can easily control their dosage,” said Moore.
“Because it’s water-soluble it has high bioavailability, it’s discrete, and it’s easy to use.”
Consumer simply stir a determined dosage into a drink and sip away.
The company also has a line of pre-mixed drinks including hydration, energy, and rescue, which is for anyone who may have overconsumed THC.
“I won’t render you sober but it’ll make you less uncomfortable,” said Moore.
The Xanthic line is in its start-up phase in the US and will enter the Canadian market once regulations on edibles and concentrates have been set, within a year of federal legalization according to the government.