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Dragonfly Biosciences was incorporated on 29 June 2017 and is a premium retailer of cannabidiol (CBD) oil. Through its extensive research and development, Dragonfly controls the process from seed to sale, with the aim of producing the highest and most consistent product quality. Dragonfly currently offers a range of CBD health and lifestyle products.
Dragonfly aims to expand its business and product range in line with legislative changes in Europe, the USA and Australia. As demand grows for CBD health supplements, Dragonfly seeks to be the go-to producer and supplier of CBD for both businesses and consumers.
Dragonfly’s products are tested in third-party laboratories, as well as implementing its own testing regime to ensure consistency and quality across the board with Good Manufacturing Practices (GMP). Its product line is standardised to contain specific quantities of cannabinoids including, CBD, CBD-a and CBG.
Anxiety around COVID-19, compounded with the pressures of general life has lead to increased rates of sleep and mental health problems.
In addition, the associated harms of prolonged opioid use for the treatment of chronic pain can have serious health implications. Research has shown that chronic pain can be managed safely with alternative plant treatments.
The global opioids market size is estimated to reach $29.4 billion USD ($43.6 billion AUD) by 2026, expanding at a compounded annual growth rate (CAGR) of 1.8%. The rising prevalence of disease conditions with chronic pain, such as cancer, lower back pain, arthritis and fibromyalgia, is driving the opioids market.
Internationally, chronic pain has been found to be a very expensive condition. The total financial costs of chronic pain in the US were $635 billion, compared to heart disease ($309 billion), cancer ($243 billion) and diabetes ($188 billion).
Locally, 3.24 million Australians were living with chronic pain in 2018 of which 53.8% are women and 68.3% of working age. Estimates of the economic burden on society do not do justice to the reduced quality of life experienced by those suffering from chronic pain.
CBD oil can be used as a natural alternative to opioids as it tends to benefit patients experiencing chronic pain, anxiety, insomnia, arthritis and inflammatory issues. The legalisation in Australia of over-the-counter CBD oils creates a new opportunity for consumers to avoid prescription-based medications.
“Previously, they’ve had to go to a GP and they’ve had to talk to the GP about what they’re trying to treat, and then the GP has had to get special permission in order for them to be able to access a prescription.” – Cassandra Hunt, managing director of cannabis industry consultancy, Fresh Leaf Analytics. This has now created ease of access for consumers to access the benefits that CBD oils have to offer.
Dragonfly is passionate about bringing positive social change with a focus on chronic diseases and conditions worldwide.
A key goal is to tackle pain and mental health industries with alternative plant-based CBD oil medicines and therapies. Their vision is to provide consumers with high-quality, affordable and trusted CBD wellness products by providing the entire production chain, from seed to shelf.
In terms of market growth and taking into consideration the legalisation of cannabidiol products worldwide, CBD-based products are anticipated to witness rapid growth due to increasing demand from the pharmaceutical sector and rising awareness among consumers regarding health.
“The CBD oil market is poised to grow by USD $3.52 billion during 2020-2024 progressing at a CAGR of over 32% during the forecast period”. – Yahoo Finance
“The global cannabidiol market size was valued at USD $2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028” – Grandview Research
A positive impact on the demand for CBD products in the pharmaceutical sector is expected from the legalisation of medicinal cannabis and increasing disposable incomes among consumers. Dragonfly Biosciences has already established its ability to meet market demand, having recently settled a series of European retail deals, including distribution through in well-trusted pharmacies. Dragonfly is Europe’s largest and leading seed-to-sale producer of CBD and cannabis-derived extracts.
In September 2020, Dragonfly signed a strategic manufacturing and distribution agreement with GaXtracts to launch Dragonfly North America LLC. The company believes there will be a resurgence in demand for health and wellness products.
GaXtracts is an Atlanta based CBD company, manufacturing CBD products under Dragonfly operating procedures and distributing these products throughout North America.
Dragonfly is already dominating the current UK market, with a significant number of retail distribution partners (including the likes of Boots, Sainsbury’s, Day Lewis and numerous other pharmacies) and bulk agreements.
Dragonfly has received awards such as:
Dragonfly sets itself apart from competitors with full accreditation and premium branding. All products are certified in its facility and stringently tested in third-party labs, ensuring every batch is of consistently high quality.
Dragonfly tests the seeds prior to planting in their organically certified soil, with further testing of the plants during growth and at harvest. Dragonfly tests its products throughout the extraction process. Strict testing procedures guarantee dragonfly products are pure and safe.
Dragonfly’s final products are analysed by third-party laboratories. The results present microbiological profiling, testing for pesticides and heavy metals as well as cannabinoid and terpene profiling. These labs are ISO certified and can be verified.
The hemp is grown in certified organic land owned by Dragonfly, using sustainable, all-natural farming processes for healthier plants.
Dragonfly currently produces branded and bulk non-labelled products. Dragonfly strives to continue with its stringent research and development of its products so that they can be sold in other jurisdictions. Dragonfly’s product range includes:
Narrow Spectrum Dragonfly CBD Oil
Narrow Spectrum Dragonfly CBD oil is perfect for newcomers to the category. The Narrow Spectrum range extracts Dragonfly CBD’s organically grown Cannabis sativa L. to create a ‘super-distilled’ CBD, which is smooth in taste & consistency.
Dragonfly Narrow Spectrum is the most popular CBD oil in its range and was voted the best CBD oil by Boots UK customers.
Broad Spectrum Dragonfly CBD Oil
Derived from hand-crafted Cannabis sativa L. extract, Broad Spectrum Dragonfly CBD Oil is a close reflection of the plant’s natural complexity and is ideal for an experienced CBD oil user.
CBD Skincare Range
CBD is an anti-inflammatory and antioxidant, which aids the reduction of cell stress and damage. Whilst popular as a food supplement, CBD can also be absorbed externally through the skin, lending its wide-ranging benefits to cosmetics.
These products are sold directly through the Dragonfly proprietary website shopping portal. The products are also available in several well-known retailers across the UK including Tesco, Boots Pharmacies, Sainsbury’s and Harrods.
Dragonfly products are sold in stores such as:
- ‘Seed to shelf’ quality assurance
- Leading CBD brand in the UK
- Compliant with EU & UK regulations
- THC free test certificates available on website
- Organic cultivation (certified)
- GMP (Good Manufacturing Practice) accredited facilities
- Novel foods compliant, UK FSA and EFSA dossiers have been submitted
- Wide product range to meet customers’ needs
- Unrivalled UK retail distribution, including Boots, Tesco, Sainsbury’s, Amazon
- International footprint established in United States, Europe, Australia and New Zealand
- Scalable infrastructure with a large scale extraction facility
The Fine Print
Chief Executive Officer
Based in London, Regan has been with Dragonfly since 2018. He was appointed CEO in 2019.
Spearheaded new product development, delivered new UK retail listings and Dragonfly’s novel food submission. Regan is now focused on Dragonfly’s International expansion.
Regan is a Chartered Accountant with over 25 years’ commercial experience.
Previously CFO at Zone Vision Networks, VP Finance at NBCUniversal, International Channels for Global Markets.
President & Co-Founder
Based in Sofia, as one of the founders, Radost has been with Dragonfly since the beginning in 2017.
Radost has built the Dragonfly infrastructure. Dragonfly now has an organic cultivation capacity of over 650 Hectares. Radost was instrumental in delivering the operating permits required for Dragonfly’s extraction facility.
Previously developed a series of solar farms, CEO of a highly successful TV production company and was the Head of the Legal Department at Sofia Municipality.
Chairman & Co-Founder
A serial entrepreneur and investor in media and health-related businesses. Founded Zone Vision in 1991, which was then sold in 2007 to Liberty Media and more recently to AMC Networks Inc.
Board Member & Co-Founder
One of the original team with (Jim) Henson International Television, creators of the Muppet Show. 30 years’ experience in media. Raised US$250m to buy Hallmark International and the Hallmark Channel and Library (ex USA), which was then successfully sold to NBC in 2007.
DR SAOIRSE O’SULLIVAN
Associate Professor at the University of Nottingham within the Faculty of Medicine & Health sciences. Her primary research interest is the role of the Endocannabinoid system in diabetes and obesity.
DR ANDY YATES
UK pharmacist who received his PhD in cannabinoid medicinal chemistry from the University of Nottingham. Over 15 years’ pharma experience working in the medical, commercial, business development and strategy functions. Runs an independent pharmaceutical consultancy firm and holds Honorary Lectureship at Keele University.
Chartered Accountant and global executive. CEO of Zone Vision Networks since January 2002 and played a key role in building and selling the (US$1billion) company. Helped to grow brands such as CNBC, Discovery, Animal Planet, Food Network, CBS, Extreme Sports, Outdoor Channel, MGM and AMC.
Retired Major in the United States Air Force. Founded and operated broadband networks and platforms in Europe, Asia, Brazil and the United States. Co-founded Atlantic Broadband US, successfully selling the enterprise in 2012. Founding partner at Broadband Technology Advisors US.
More than 25 years’ of leadership experience in the pharmaceutical industry. Former Executive Vice President of Worldwide Commercial Operations at Gilead Sciences Inc. 14 years in various positions at GlaxoSmithKline (GSK). A board director at several biotech companies and a Fellow of the UK Chartered Institute of Management Accountants.
Finexia Securities Limited is the holder of AFSL No. 485760 and a subsidiary of Finexia Financial Group (ASX:FNX).