GHP Funds

SVP I

SVP I, the debut fund for the firm, closed in December 2002 and invested with four highly successful leveraged buyout funds. SVP I is diversified by sector and geography.

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SVP II

SVP II is a leveraged buyout fund of funds which closed in December 2006. SVP II represents a continuation of the successful strategy utilized by the predecessor fund, primarily investing with large, top tier LBO and growth equity firms. SVP II is diversified by sector and geography.

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SVP RE I

SVP Real Estate I, LP ("SVP RE I"), closed in February 2008, is a private real estate fund of funds. As with SVP I & II, SVP RE I received allocations with historically successful, highly sought after underlying fund managers who pursue compelling investment strategies. The fund is diversified by sector (Office, Hotel, Industrial/Warehouse, Retail and Residential) and geography (U.S., Europe, and Asia/Pacific).

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GHP COF

The GHP Credit Opportunity Fund (“GHP COF”) is a fund of alternative credit and distressed debt funds that is being raised and invested to pursue two specific investment themes: (1) the de-leveraging of European Banks, and (2) the potential for a distressed cycle in U.S. High Yield Credit. GHP COF will pursue complex liquid and illiquid credit opportunities in the U.S. and Europe.

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GHP Library

How A Cannabis Company Is Taking A Page Out Of The Pharmaceutical Playbook

In the weed world, Big Pharma is typically seen as an enemy. It’s the industry that pushed opioids over a potentially safer solution to chronic pain. It’s the industry that has scored Schedule II and III status for synthetic THC, while naturally occurring THC in cannabis plants remain in Schedule I. It’s the industry that has poured money into lobbying againstmarijuana legalization efforts, while simultaneously selling the aforementioned synthetic THC.

But New York medical marijuana company PharmaCannis is taking techniques from pharmaceutical drug development and applying them to the plant. It’s using something known as the self-emulsifying drug delivery system to produce their PharmaCannis Capsules, increasing the efficacy of its plant-derived medical marijuana products. Well-known in the biotech world, the company says it’s the first time that the technique has been applied to cannabis.

Many patients and their doctors are more at ease with a product like the capsules, said Chris Diorio, Director of Research and Development at PharmaCannis. And on top of that, using this method of drug formulation helps achieve more precise dosing – a tricky undertaking when it comes to medical cannabis.

 Diorio, for his part, spent over two decades working in the pharmaceutical industry from startup companies to giants like Pfizer. Much of his work focused on drug delivery technologies, and he sees a way forward for combining the know-how of the pharmaceutical industry with the more woo-woo world of weed.

“Smoking it is the traditional drug delivery vehicle,” he said. “But there’s a whole abundance of other methods that could potentially do a better job in a more precise manner.”

 Cannabis in edible forms are notorious for taking a long time to work – usually at least 30 to 45 minutes – and produce a different effect compared to smoking or vaporizing. That’s because it takes time for the edible to make its way through the stomach, liver and intestines. And when THC reaches the liver, it gets converted to a metabolite known as 11-hydroxy-THC – a process known as the “first-pass effect.” For most oral cannabis products, this means around 85 percent or more of the cannabinoids aren’t absorbed.

The capsules prevent this from happening, essentially allowing the cannabinoids to bypass the liver and get absorbed directly in the intestines. Diorio reckons that this could increase absorption by five- or sixfold.

“When you look at any compound that is fat-soluble, this technology makes sense because it provides… [THC] the ability to be absorbed at a much higher rate,” said Diorio.

In theory, this means that such a capsule will provide a greater, more long-lasting effect for the patient. While this is the company’s goal in developing such a product, Diorio emphasizes that it’s hard to make that claim without the ability to run a clinical trial using it. Still, patient feedback so far has been “very favorable.”

It’s also beneficial in highly regulated medical marijuana markets. New York’s program restricts edible products to 10 mg per dose. By avoiding the first-pass effect, the capsules are arguably more potent – even while adhering to the 10 mg limit.

As medical marijuana companies continue to develop new products under restrictive regulations, it makes sense that we’ll see more pharmaceutical techniques applied to the plant-based medicine.

 The U.K.-based GW Pharmaceuticals has been running clinical trials in the U.S. for its plant-derived CBD medicine Epidiolex. The drug, currently under FDA review, could become the first-FDA-approved, plant-derived cannabinoid medicine. The situation underscores the absurdity of U.S. cannabis laws: A foreign pharmaceutical company can import its marijuana-based drugs to run FDA-approved clinical trials, but an American medical marijuana company cannot run those same studies.

MAPS, the non-profit conducting the first FDA-approved whole-plant clinical trial, believes that the agency could be open to approving a plant as a medicine. But Diorio thinks that the plant will go on its own path, separate from cannabinoid medicines that the FDA is willing to approve. “[They’ll] diverge into two directions, where you have plant-based medicine going one route and the purified plant components going [the FDA] route,” he said. “I don’t see them coming back together.”

 Diorio emphasizes that the Pharmacannis Capsules are not a purified cannabinoid product. Instead, it uses an extract that contains other compounds from the plant, including terpenes and minor cannabinoids, which would contribute to the much-touted entourage effect.

“I don’t want to ruin the plant,” said Diorio. “I just want to make it better for those who use it to treat their ailments.”

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