A little more than a year ago, CompanionCBD launched with its line of easy-to-administer and cost-effective soft chew cannabidiol (CBD) products for pets. “CBD is a plant-derived compound which comes from the hemp plant and mimics the action of chemicals that are essential for normal functioning of the brain and body,” says CEO Brad Malin. A 2018 study from Surgical Neurology International states that CBD has been reported to show numerous therapeutic properties in both animals and humans, including anxiolytic, antidepressant, neuroprotective, anti-inflammatory and immunomodulatory benefits. “Our CompanionCBD products are produced from 100 percent hemp, all-natural ingredients and manufactured in a GMP/NFP certified facility, to ensure quality and safety. They are also palatable (pet approved),” Malin continues. “We manufacture the products and sell them to veterinarian medical markets both across the country and internationally. We do not sell retail or online.”
The company was co-founded by Malin, an entrepreneur whose more than 21 years of experience in the medical distribution arena includes founding MB Health Partners, LLC, a global medical device distribution and consulting firm, and Josh Sosnow, who has been a practicing veterinarian in small animal medicine and surgery for more than 18 years and is also the owner of North Scottsdale Animal Hospital and Desert View Animal Hospital.
Says Sosnow, CompanionCBD’s chief medical officer, “With our veterinary patients, mainly dogs and cats, we have begun to use CBD to manage anxiety and behavioral disorders, with an ever-increasing measure of success Recent data also shows it can work to manage pain, osteoarthritis, diseases of the immune system and seizure disorders.”
Noting, “Everything we do is evidenced-based, which is very important in terms of efficacy,” Malin points to their comprehensive database of more than 250 published articles that show how CBD is very effective for many different diseases, states and conditions for both pets and humans, and says, “We provide all of our retailers with a business development program to help each practice how to better educate their customers and sell the product effectively.” Other therapeutic CBD products are currently in research and development, which Malin expects to make available soon.
Malin’s inspiration for the company was his own experience. “After five back surgeries and experimenting with many different types of therapies and treatments that don’t work, I stumbled upon CBD a few years ago. It had such a profound impact on myself that I decided to research more about it and the opportunities to create a business,” he relates. “After consulting with CBD Company, I saw the market potential and decided to make a run at it on my own. I contacted Josh Sosnow, DVM, for his insight and clinical opinion, and we partnered up and created CompanionCBD.”
Raising capital has been their biggest struggle. “However,” Malin says, “we continue to align ourselves with people who see and believe in our vision and business model.” Education is another big component of what the company does. “Not only do we manufacture products, but we lecture to the local and state medical associations and at Vet and medical conferences.”
Malin recalls that they were advised at the outset that establishing the brand would be critically important, and they took this to heart “doing the right things, aligning ourselves with the right reputable sources to help with brand name recognition. It was a process, but we have found the right group that is assisting us on a national level.”
Did You Know: According to analysts at Brightfield Group, a CBD marketing and research company, CBD is expected to be a $22 billion industry by 2022.