Wellcana

About Wellcana

Wellcana operates as a significant entity within Louisiana's regulated medical cannabis sector. The company functions as a biopharmaceutical firm focused on the cultivation, extraction, processing, and production of standardized medical cannabis. It holds the distinction of being one of only two licensed medical marijuana growers in the state, operating as a public-private partner with the LSU AgCenter. This partnership authorizes Wellcana to cultivate and manufacture therapeutic medicinal cannabis for distribution to licensed pharmacies throughout Louisiana.

The company's business model is centered on wholesale B2B transactions, supplying cannabis products to the state's nine dispensaries. Its product line is diverse, catering to patients with a wide array of debilitating medical conditions as certified by a physician, including chronic pain, PTSD, Parkinson's disease, and multiple sclerosis. Wellcana provides a range of non-smokable medical marijuana products such as tinctures, oils for metered-dose inhalers, capsules, and topical creams. Their offerings include full-spectrum THC-only tinctures in various concentrations and flavors, as well as balanced THC/CBD formulations. The company has also introduced products like the RSO Distillate, a concentrated form of THC, and planned to expand into CBD products derived from hemp. Wellcana was noted to be processing over 570 plants per month as of early 2020.

Originally, the program was a partnership between the LSU AgCenter and GB Sciences Louisiana, which was a subsidiary of a Nevada-based company. In a significant milestone in late 2019, Lafayette-based Wellcana Plus LLC acquired the 50% stake from GB Sciences, making Wellcana the full owner of the LSU-partnered operation. This strategic move solidified its position in the state's nascent medical marijuana market, which commenced sales in August 2019. The company has also been associated with Good Day Farm, with John Davis, President of Good Day Farm Louisiana, overseeing expansion efforts, including a new facility intended to significantly increase production capacity. Wellcana's headquarters are listed in Little Rock, AR, and it operates as a privately held, angel-backed company founded in 2019.