New Player Enters Californian Cannabis Testing Market
It is a pivotal time in the cannabis industry, especially in California. Recreational marijuana will be legal on January 1, 2018, and all consumer cannabis products will need to pass rigorous mandatory laboratory testing requirements.
CERESLabs, who opened their doors to the investment community this week, plans to capitalize on a void in the cannabis space – the lack of full-compliance cannabis testing laboratories. Formed by Sachin Barot and Denis Chen, the CERESLabs mission is to become the global leader in analytical cannabis product testing. Immediate plans include launching a scalable laboratory operation in California to meet this demand for mandated regulatory cannabis testing.
According to Mr. Barot, "The timing is perfect. We're poised to quickly create a state-of-the-art, scalable cannabis testing operation in an industry sector that is currently in disarray. Most people recognize the incredible financial potential in the cannabis industry, but few understand the critical and profitable role the laboratory plays."
Barot and Chen joined forces early in 2017. Mr. Barot had spent 20 years on Wall Street, most recently at FlexTrade, focused on algorithmic trading and global sales, while Mr. Chen ran a successful multinational Wine & Spirits business. After months of research, they centered their business plan on the cannabis testing laboratory and created CERESLabs. Their primary objective is to help the industry provide safe cannabis for all end users. The next step was onboarding key talent.
Central to the testing laboratory talent equation is CERESLabs Chief Scientific Officer, Dr. Pritesh Kumar, Ph.D., a world-renowned cannabinoid pharmacologist with extensive experience in cannabis laboratory analytical testing and research. Dr. Kumar will be responsible for leading all operational efforts and driving global expansion of the laboratories. "Dr. Kumar's expertise in cannabis research, laboratory protocols, developing / operating analytical laboratories as well as his work with the global scientific community, will be invaluable in achieving the highest global standards for our testing facilities," said Barot, CERESLabs CEO.
"With our team in place and the raise in full swing, it's an exciting time for CERESLabs," according to Barot.