He wants to be the first cannabis producer listed on the Brazilian Stock Exchange

Alzheimer’s, Parkinson’s, epilepsy, autism, fibromyalgia, and chronic pain are some diseases whose symptoms can be alleviated by cannabis-based medicines.

The recognition of the plant’s medicinal properties in recent years has resulted in a worldwide trend to relax and regulate the use of the active ingredients of cannabis in various countries.

Ten years ago, Brazilian Alfonso Cardozo Ferretjans moved to Uruguay, interested in working with the plant’s medicinal use.

In 2013, the South American country was the first to legalize and regulate the production and consumption of cannabis.

In the country, Ferretjans had the opportunity to study cannabis cultivation, its different species, and its purposes.

In 2019, he founded PucMed (Productora Uruguaya de Cannabis Medicinal).

This startup operates in the cultivation of the plant and provides cannabis and its derivatives for industrial, medicinal, and academic purposes.

PucMed was born as a binational company.

The business headquarters is in Curitiba (PR), while the plant’s production is in Uruguay’s Florida Free Trade Zone.

The startup can treat just over 7,000 patients per month in partnership with associations and serving imports.

The company has 15 hectares (150,000 square meters) available for cannabis cultivation, equivalent to the area of a Maracanã stadium.

Currently, 11,000 square meters of climate-controlled greenhouses are used for the plant’s production and another 10,000 square meters of open area for ecological cultivation.

Ferretjans wants to go further in 2023. He plans to expand its activities, especially in Brazil.

The company imports cannabis ‘in natura’ into the country by means of a resolution from Anvisa that contemplates the use of the plant by individuals, with medical proof.

PucMed brings the products to the country, but the marketing and patient care is done through a second company with internal registration, Anna Endocannabinoid Medicine.

Launched in 2022, the Brazilian arm of the startup has two physical spaces in Curitiba for the treatment and sale of cannabis medicines.

The goal is to build 50 such centers in the southern and southeastern regions of the country.

With this, the number of patients served per month would increase threefold, from 7,000 to 22,000.

The startup is looking for investors, and its main plan is to go public in the stock market.

The initial focus is to go public in Toronto, Canada.

The country already has legislation and experience with companies in the sector, facilitating the plans, according to Ferretjans.

However, there are also plans to list in the São Paulo stock exchange, B3.

“Our intention is to be the first Latin cannabis company to list on the Brazilian stock exchange. We are in contact with lawyers and market funds to analyze our possibilities and understand the legislative limits,” says Ferretjans.

An initial fundraising estimate has already been defined based on the ambitions for expansion: between US$5 million and US$10 million.

In December, PucMed was valued at US$27 million, according to the founder.

The scarcity of capital in the financial market does not scare the CEO. He says the cannabis industry is rising, and the health-oriented research sector is the most fervent.

“The market has proven positive with the returns from the medical field and the response from the population. In the pandemic, the increase in cases of anxiety, depression, and burnout has increased the testing of cannabis medicines to alleviate these conditions. Consumption and exports are increasing. The opportunity is now,” says Ferretjans.

Data from the Brazilian Association of Cannabis Industries (Abicann) indicates that at least 18 million Brazilians could benefit from treatment with cannabis-based medicines.

The association estimates that the cannabis industry in Brazil could generate US$30 billion by 2030.

Legislation for the sector has been moving forward gradually.

On the 31st, the governor of São Paulo, Tarcísio de Freitas, sanctioned a bill that authorizes the distribution of cannabis-based medicines through the SUS (Single Health System) in São Paulo, the country’s largest state.

PucMed has signed a partnership with Belcher Farmacêutica from Maringá (PR) to improve its production of medicines in the coming years.

The company specializes in developing, manufacturing, and distributing cannabidiol-based medicines in Brazil.

Ferretjans calculates that PucMed’s income may reach US$90 million in three years, gradually advancing.

The expectation is to close 2023 with US$ 13 million.

With information from Forbes

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