Medicinal Cannabis: The Current State with PureVita Labs Founder Dr. Jason Iannuccilli

Dr. Iannuccilli starts by describing his former interventional oncology practice in Rhode Island. His interest in medical marijuana grew as he frequently found himself in conversations with terminal cancer patients who sought his medical advice to navigate the variety of products. As he learned more about this craft industry, he realized that there could be significant variations between each product type, brand, and even within each batch. With co-founders Dr. Jonathan Martin and Dr. Stuart Procter, he started the entrepreneurial journey of building a laboratory that uses innovative techniques to test and label products with accuracy. The team hopes to continue growing their services and eventually through artificial intelligence, build a platform that can recommend products to each individual consumer that will ensure them a predictable experience based on their desired therapeutic outcome.

Throughout this episode, we discuss social stereotypes and political challenges that the cannabis industry has faced in the past decades. We move past the mistaken idea that active ingredients of marijuana always cause mental dullness and lethargy, and we bring the conversation down to a molecular level to discuss CB1 receptors and anti-inflammatory benefits, and pain relief.

Finally, the doctors discuss fundraising for a nontraditional business pursuit. Dr. Iannuccilli shares how the vape crisis was a pivotal point– it served as a wake-up call for consumers and investors, leading to higher recognition of the importance of more stringent and standardized product testing. PureVita Labs has started to fundraise through friends and family with convertible notes, which are structured loans with set interest rates that allow the investor to either pull out their initial investment plus interest, or roll that value into equity once the company has established its valuation.