Niche Cannabis Extraction in British Columbia
This Aion Therapeutic profile is part of a paid investor education campaign.*
Aion Therapeutic (CSE:AION) is a life science company focused on the research and production of medical cannabis and psychedelic-based therapies made from natural plants including mushrooms and fungi. The company’s goal is to create a collection of patent-protected therapeutic formulations using unique combinations of these plants and compounds.
Aion Therapeutic is working to develop these unique formulations using state-of-the-art artificial intelligence and machine learning techniques. The company believes there is potential to develop psychedelic-based therapies with special applications treating many types of illnesses including cancer, psychiatric disorders, addiction, viral infections, obesity, chronic inflammation and others.
In June 2020 Aion Therapeutic announced the acquisition of PCAI Pharma, the parent company that holds all shares of AI Pharmaceuticals Jamaica Limited, which is engaged in the research and development of cannabis and mushroom-based pharmaceutical, nutraceutical and cosmeceutical formulations and related intellectual property.
To complement its entrance into the psychedelic space, Aion Therapeutic has applied for five patents with the United States Patent and Trademark Office regarding new treatments combining therapeutic compounds in medical cannabis with healing compounds from mushrooms (edible and psychedelic), and other natural plants known for their medicinal properties. Using artificial intelligence, Aion Therapeutic intends to develop a vast portfolio of intellectual property including blocking patents designed to protect the company’s findings.
In addition to its psychedelic-based business operations, Aion Therapeutic intends to process raw cannabis to produce cannabis extracts for Canada’s medicinal and recreational cannabis markets. The company intends to generate revenue through third-party contract and toll processing, wholesaling of oils and distillates, white-label solutions and the sale of Aion Therapeutic-branded products.
Aion Therapeutic has also re-submitted its processing license application to Health Canada through the Indigenous Navigator program, which the company believes will help expedite the licensing process. The company has secured a lease with the Osoyoos Indian Band in Oliver, British Columbia, for a cannabis extraction facility which will be built out in two phases. Phase 1 is currently underway, with the capacity to process up to 50,000 kilograms of dried flower and produce 4,900 kilograms of cannabis oil annually. Once the facility is fully operational, it will be able to process up to 100,000 kilograms of dried flower and produce approximately 9,800 kilograms of cannabis oil annually.
Aion Therapeutic is also in discussions with the Osoyoos Indian Band to lease over 100 acres of land adjacent to the extraction facility for an outdoor cultivation site. The Okanagan has a hot, dry climate, which makes it an ideal location for outdoor cannabis cultivation. Moving forward, the company is committed to fostering its relationship with the Osoyoos Indian Band and will be looking to the community for labor resources when applicable.
Aion Therapeutic is led by a strong management team including CEO Graham Simmonds, who brings over 20 years of public company management to the team. The executive is complemented by experts Dr. Stephen Barhill and Chief Science Officer Dr. Herbert Fritsche, a world-renowned clinical chemist and former professor of laboratory medicine.
Aion Therapeutic’s Company Highlights
- Acquired PCAI Pharma, the parent company of AI Pharmaceuticals Jamaica Limited, which conducts R&D of cannabis and mushroom-based pharmaceutical, nutraceutical and cosmeceutical formulations and related intellectual property
- Applied for five patents regarding new treatments combining therapeutic compounds in medical cannabis with healing compounds from mushrooms
- CBD extracts market expected to reach $2.1 billion by 2020
- Re-submitted processing license to Health Canada through the Indigenous Navigator program, expediting the application process
- In association with the Osoyoos Indian Band, a well-regarded and entrepreneurial band
- Annual production of approximately 9,800 kilograms of cannabis oil once fully operational
- Led by a strong and experienced management team and board of directors
Aion Therapeutic’s Management Team
James W.G. Thompson, Ph.D. – President.
Dr. Thompson is an accomplished neuroscientist and healthcare technology entrepreneur with over 20 years industry experience. Most recently he co-founded Evoke Neuroscience, Inc., a healthcare technology company founded in 2009 and focused on aiding diagnosis and therapy for neurological disorders. Dr. Thompson served on the Board of Directors for 10 years and held roles as Chief Science Officer, Chief Technology Officer and Chief Innovation Officer. He has led early and mid-stage companies in multiple verticals including mental health, brain injury, neuro-degeneration, cardiology and wellness, covering medical devices, software, clinical research, therapeutics, regulatory, AI and big data.
Dr. Thompson’s work specializes in the research, development, application, market strategy and commercialization of biotech and he is a principal inventor on 13 awarded patents and 3 pending patents related to data analytics, remote database systems, medical hardware, medical software and neuromodulation.
Graham Simmonds—Executive Vice Chair & Chief Executive Officer
Mr. Simmonds is an entrepreneur with a diverse background in consumer-driven businesses. He has founded and taken public three companies over the past 15 years in the gaming, cannabis, and financial technology sectors. He has over 20 years of experience in public company management and business development projects within both the gaming and technology sectors. He is also licensed and/or has previously been licensed/registered with a number of horse racing and gaming commissions. Mr. Simmonds developed the first in-home digital video horse racing service in North America and is a former owner of eBet Technologies Inc., a licensed ADW operator and software developer for the online horse racing industry in the United States.
Dr. Stephen D. Barnhill—Executive Chair
Dr. Barnhill is a physician, fellowship-trained in Laboratory Medicine and Board Certified by the American Board of BioAnalysis, an expert in AI, an inventor on more than 40 patents globally, and is an experienced pharmaceutical and biotech executive with experience as a CEO in both private and public companies in the United States and internationally. He was most recently Founder, Chairman, and CEO of a U.S. publicly-traded international biotech company, which he took from inception to profitability. Throughout his career, Dr. Barnhill has negotiated and executed deals with many companies including Pfizer, Corning-MetPath, Quest Diagnostics, Clarient (now GE Healthcare), LabCorp, NeoGenomics, Abbott, Bruker, and others. He has published many papers with academics including those from MD Anderson Cancer Center, Johns Hopkins University Medical Center, Stanford University Medical Center, and others.
Dr. Herbert Fritsche—Chief Science Officer
Dr. Fritsche is a world-renowned clinical chemist and former professor of laboratory medicine and chief of the clinical chemistry section at the University of Texas, MD Anderson Cancer Center, in Houston, Tex., for 41 years. He has published over 200 peer-reviewed scientific papers, invited articles and book chapters, and participated in the validation and U.S. Food and Drug Administration clearance process for almost every commercial serum cancer marker currently in use in the United States. Dr. Fritsche holds three patents and two patents pending.
Rakesh Malhotra—Chief Financial Officer
Mr. Rakesh Malhotra, CA, has over 25 years of experience as a CFO and a consultant to various public companies in both Canada and the USA.
Mr. Horwitz has practiced corporate securities law for many years representing private and public issuers of securities primarily in the United States, but also internationally including companies operating in Canada, China, and Israel. Mr. Horwitz was a founder and board member of the NASDAQ National Market System oil and gas company Beta Oil & Gas, Inc. Mr. Horwitz has also been a board member of multiple legal cannabis operators and investors in the United States, including ManifestSeven, Inc., Cannabis Real Estate Consultants, Inc. and Strawberry Canyon Capital, Inc.
Ms. Mondin served as a strategic advisor for several companies involved in the processing, distribution, and safe use of medical cannabis. Ms. Mondin is CEO & Director of Quadron Cannatech, which focuses on extraction and processing solutions. Ms. Mondin is also the co-Founder and Executive Director of the Cannabis Trade Alliance of Canada (CTAC) and Special Advisor to the Canadian Association of Medical Cannabis Dispensaries (CAMCD).
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