Spectrum CannaLabs protects the health and safety of cannabis users with breakthrough testing protocols based on nearly two decades of experience in Biotech and clinical trials for the pharmaceutical industry. Lab testing for safetyandcompliance is still a huge bottleneck and we are the only company providing a pharmaceutical-grade testing solution in California.
Raised $800K and at the end of a 2 year process for setting up the lab. Revenue expected within a month. Looking for growth and expansion capital
$28 billion estimated US if legalized (Barclays) CA $2.2 Billion testing market
$150M SAM $50M SOM Assuming 1 lab servicing a 3 hour radius
Problem or Opportunity
People are using cannabis as medicine yet it's not being tested that way. It's the Wild West and compliance hasn't caught up. Lab testing is mandated by the state and a huge bottleneck. Labs are being shut down for not having the necessary processes in place or just falsifying data costing millions in recalls and lost product.
Solution (product or service)
We are providing the only pharma grade testing for legal cannabis
2 Rivers GreenLeaf within our radius
Evio Steep hill SC Labs Purr Analytics CW Anresco Harrens
Advantages or differentiators
Partnerships with leasing equipment manufacturer State of the Art Equipment Background in Pharma and Health Build out of our own LIMS system Potential collaboration with UC Davis Ag and Medicine In a huge underserved area
We can charge a premium One customer worth up to $330K/yr in Pre-Testing and Release testing
Money will be spent on
Hiring Chemists Research Assistants Marketing Vehicles 2nd location