As I write to you, the Spitfire wing sheds are being dismantled and diggers arrive to further excavate the foundations of the first phase of the high security Phytome medical cannabis campus. It is at this moment that I would like to honour the incredible work that has occurred on this ground before us. Many young people have been trained and gone on to careers in automotive and aeronautical engineering while the Spitfire’s emerged, painstakingly shaped and rivetted by hand.
I draw many similarities with the precise and meticulous work that will soon take place on that same site and look forward to continuing to build the legacy of innovation at Trelonk, albeit with living systems and at the molecular level.
Phytome is not just a lab full of scientists and abstract experiments. The opportunity in this emerging and rapidly growing industry is to couple capital, expertise, and execution to become what we have come to call an innovation investment platform. Our vision has the potential to create transformational value through focussing on inter-connected platforms of innovation with highly scalable impact across manufacturing cannabis-based medicinal products and the pharmaceutical development of novel phytochemicals. An $9Bn global markets today expected to reach $28Bn by 2026, we have the potential to develop technologies that transform the lives of those in need of new medicines, while unlocking billions of dollars of market value.
This is a moon-shot opportunity. It will take time, ingenuity, partnerships, money, belief, and an innovating multi-disciplinary team to get there. In this regard, Phytome remains distinct from the vast majority of the cannabinoid-focussed investment offerings we see in the market, which by and large develop strategically undifferentiated cannabis production capacity for recreational and/or medical raw narcotic ingredients. That said, we don’t swim against the tide. In fact, we believe we are creating the wave and with this comes our focus on transformational returns to our shareholders. If the complexity, risk, and virgin territory were not inherent, we would already be too late.
Although in stealth mode, we have been very busy over the summer recruiting financial, scientific, and commercial expertise from the likes of Pfizer, Materia Ventures, Porton Down and publicly-listed technology companies. In parallel, Mark has also committed substantial investment to build and equip laboratories creating an impressive research platform across plant tissue culture, extraction technology and molecular analysis. This one effort has enabled key projects, commercial relationships and collaborations with the University of Plymouth and Manchester to progress. Importantly, patent white space has also been identified and early positive data is beginning to flow such that we feel confident in the development of preliminary patent fillings in the coming months.
Phytome has a unique and differentiated story to write. Building upon a foundation of world-class innovation we will soon break cover marketing, partnering, and gaining investment on the global stage to achieve the leadership status we believe possible. In every sinew of our beings, we believe in the ability of technology companies to locate in Cornwall and be globally relevant.
Your unwavering support toward putting ground-breaking innovation “designed in Cornwall” on the map is felt everyday and is truly appreciated by the entire team.
I look forward to keeping the Parnall community updated as we continue to chart new territory.