Marijuana Business Magazine - May-June 2018

NEW HlRES & PROMOTlONS A look at some recent hiring moves in the marijuana industry By Omar Sacirbey & Movers Shakers David Schubert Cannabinoid Drug Developer Lands Star Scientist Nemus Bioscience, a biopharmaceu- tical company in Costa Mesa, Califor- nia, that develops cannabinoid-based medicines, tapped professor David Schubert , head of the Cellular Neuro- biology Laboratory at California’s Salk Institute, as a consultant. Schubert, a two-time recipient of the Jacob Javits Award for outstanding contributions to neuroscience from the National Institute of Neurological Disorders and Stroke, a section of the National Institutes of Health, studies how natural products and their synthetic derivatives can fight Alzheimer’s and age-related-cognitive decline. In 2016, he published research in the journal Science about how THC can promote the removal of amyloid-beta, a destructive protein associated with Alzheimer’s disease. Nemus CEO Brian Murphy, who recruited Schubert, said the Salk professor will advise the firm on research programs and help evaluate the cannabinoid medicines it’s trying to develop. “We’re a small company, so to have someone like Dr. Schubert is a huge deal for us,” Murphy said. What does Schubert get out of partnering with a small firm like Nemus? Essentially, Nemus provides a conduit to the industry capital needed to help Schu- bert develop cannabinoid-based, anti-cognitive-decline medicine and pay for clinical trials. If the trials are successful, Schubert could bring his cannabis-based medicine to market. “We don’t have any connection in the industry that’s involved in this type of stuff, and they are,” Schubert said of Nemus. “They have a company that’s viable. “One of the major problems when you do drug discov- ery is you need a partner to help cover the costs of the trials.” If done well, he added, a Phase I clinical trial costs around $10 million, while a Phase II trial can range from $20 million to $30 million. “They’ve done this before, so they know the game. Salk 136 • Marijuana Business Magazine • May-June 2018