News & EVEnts
In an unprecedented move, direct investment healthcare funds Provident Healthcare Capital (PHC) and Dey Investment Group (DIG) are entering the cannabis sector with a $2 millioncommitment in seed funding towards CLIMB Holdings, LLC, an acronym for Cannabis Lifestyle Innovation Marketing and Business.
"When you put together the fact that an opiate that has 98 percent the structure of heroin is a Schedule II drug — meaning that it is official medically and addictive, whereas cannabis is a Schedule I drug, meaning it's not considered beneficial medicinally, that's where it gets crazy," Dey explained. "You're taking something that's 98 percent the structure of heroin and saying that it's okay to take orally. Yet cannabis, which has no relationship to heroin — it's a naturally growing plant — isn't okay because they shelved it it in the 70s and said, 'We'll take a look at this later.' But they never got around to it because they were too busy fighting the drug war."
"While giving my patients opiates, I noticed that some were taking cannabis — either on a recreational level or to treat the side effects associated with opiates. Those patients did not require an escalation in their dosing over time. Those patients were taking cannabis 3-5 years out, and I was giving them the same dose as I did prior to that."