CB21 Pharma strives to become a global leader in creating pharmaceutical products derived from nonpsychotropic cannabinoids, leveraging evidence-based medicine, development processes, and regulatory and manufacturing expertise. The company’s founders, Lenka Průšová, Chief Operating Officer, and Jan Storch, Chief Executive Officer, oversee the achievement of these goals.
Ing. Jan Storch, Ph.D.
A graduate of the University of Chemical Technology in Prague, he earned his PhD at the Czech Academy of Sciences, where he leads the Department of Advanced Materials and Organic Synthesis at the Institute of Chemical Processes. He is the author or co-author of several national and international patents and applications. Beyond his scientific endeavours, he is actively engaged in the pharmaceutical business and has recently expanded into the energy sector. Jan Storch is the CEO of CB21 Pharma s.r.o. and a co-owner of the CANNEFF® brand.
Ing. Lenka Průšová
She graduated from the University of Chemical Technology in Prague and Vrije University in Brussels, where she qualified as a cosmetics safety assessor within the European Union. She is an expert in developing final cosmetic products, medical devices, and pharmaceuticals. As a formulator, she has been instrumental in creating over 500 cosmetic products sold under both multinational and boutique brands in the EU. She currently serves as the Chief Operating Officer of CB21 Pharma s.r.o. and is a co-owner of the Canneff® brand.
What innovative approach does CB21 Pharma, s.r.o. use in developing and marketing its treatments?
Lenka Průšová
Our products are innovative due to their use of phytocannabinoids, which are active compounds extracted from cannabis. We create products designed to maximise the absorption of these valuable substances precisely where they need to be delivered, guided by clinical data. In our field, such data is otherwise completely absent.
Despite the recent surge in popularity of phytocannabinoids and cannabis extracts, their quality and effectiveness are often dubious due to a lack of standardisation, which is vital for the pharmaceutical industry. Additionally, these products are not supported by so-called “evidence-based” practices, making many marketing claims unfounded. This is not acceptable to us. We ensure that when we claim our products achieve certain results, we have the evidence to back it up.
As a finalist in the Manager of the Year 2023 competition, how does this recognition impact your managerial work, and in what ways do you incorporate female leadership?
My companion and formal superior hung two diplomas on the wall above my desk, which gave me a sense that I might be doing something right, but beyond that, there were not any dramatic changes. However, it was definitely a great motivator – I am striving to do everything to the best of my ability, and I am glad to see it paying off. As for the second part of your question, I do not agree with the idea of distinguishing leadership by gender. I believe in doing a job well, being honest, having ambition, taking
responsibility, and showing kindness. These qualities are not inherently feminine or masculine; they are universally human. I do not intend to create a division between what is “girly” and “boyish” in the workplace.
Besides managing the company, you are also a member of the Academy of Sciences. Have you been successful in turning basic research into commercial applications?
Jan Storch
The ability to translate the results of scientific research into practice that is beneficial to the public, let alone financially viable, is as important to me as the research itself. At least that’s the responsibility I feel towards public funding. For example, my colleagues and I recently presented a new model of electrolyser
that we hope will play a small part in the energy stability revolution. Our electrolyser will facilitate the storage of surplus renewable energy in the form of hydrogen and reduce the carbon footprint of industrial plants.
For me, transforming scientific research findings into practical, publicly beneficial, and financially sustainable applications is just as crucial as the research itself. This reflects the responsibility I feel towards using public funds wisely. For instance, my colleagues and I recently introduced a new electrolyser model, which we hope will contribute to the revolution in energy stability. This electrolyser is designed to help store excess renewable energy as hydrogen and decrease the carbon footprint of industrial facilities.
Another technology we have developed enables the conversion of carbon dioxide into synthetic fuels, aiding in the decarbonisation of industry. However, those familiar with the field understand that having a viable idea is not always sufficient – both the mindset within the scientific community and especially the administrative conditions need to be adaptable. So, while we are making strides in commercialising our innovations, I cannot yet say that we are free from unnecessary obstacles.
You have launched a new cosmetic brand together. Could you provide more details about it and explain its current market position?
Lenka Průšová
Considering the overall composition of our products, which include phytocannabinoids like CBD, I confidently say that we are the best in the market. The cosmetic industry is flooded with unusual and so- called “universal” CBD oils or ointments, which claim to address a wide range of issues but fall short of these promises. The matrix, or the product’s structure, must be tailored to its intended use and purpose. Unlike CBD herbalist “peddlars”, we have access to professional facilities. This allows us to develop structures that are highly effective as carrier systems. We understand that no single substance can solve all problems; it is essential to know how to use and combine various ingredients effectively.
With your experience in applied research abroad, how do you think the Czech Republic’s funding for research and development is falling behind?
Jan Storch
As I mentioned, one of the biggest challenges for Czech science remains the transfer of scientific research into business. Although the situation is gradually improving, the main issue is not a lack of funding. In countries like the United States, they have more effective systems in place that support scientists by allowing them to focus on research, while specialised teams handle the administrative, legal, and commercial tasks. In the Czech Republic, and throughout the EU, scientists and entrepreneurs face significant bureaucracy. Much of the funding intended for science often goes towards covering administrative costs, which is not sustainable.
Another important factor is “startup” funding, which is essential for transforming promising ideas into commercially viable products or technologies. In the USA, for instance, this kind of financing is quite prevalent and serves as a catalyst for the rapid growth of startups and spin-off companies. In contrast, in the Czech Republic, this type of investment is often missing, leading to even the most promising ideas remaining stuck in the laboratory phase without ever reaching the market.
Another notable difference is investors’ attitude towards risk. In the US, investors are more willing to fund projects with a high degree of uncertainty but significant potential. Conversely, in the Czech Republic, as in much of the EU, there is often an overly cautious approach to risk. This conservative mindset further diminishes our competitiveness in the global market.
Finally, it is important to highlight the remuneration of those involved in creating technology and spin-off companies. Employee stock options are common abroad, serving as an incentive by offering a share in the company’s future success. However, the Czech state has yet to establish a sufficiently rational framework to support this form of remuneration. As a result, many experienced professionals are not attracted to participate in start-up companies. Overall, the issue extends beyond just funding, encompassing the lack of a comprehensive system that includes not only financial support but also the legal and business infrastructure. We can find inspiration by looking at successful models abroad.
Your company also engages experts in a Scientific Council. What role does this council play, and how important is it for the company’s development?
Lenka Průšová
Our Scientific Council holds significant importance and is far from just a formality, as it might be in some other companies. We collaborate with experts who assist us in shaping ideas for product innovation in a meaningful way. Their insights and independent perspectives enable us to make well-informed decisions. Additionally, they work with us in designing and conducting clinical trials, ensuring that our data is robust and credible both locally and internationally. The Scientific Council serves as our “external brain”, driving our company forward.
Jan Storch
If Lenka and I had only supported each other and agreed on everything, our progress would have been limited. While it is natural that we share similar views after years of collaboration, that is precisely why the Scientific Council is crucial for us.
You are involved in both academia and business. How do management practices compare, and what aspects make them benefit each other?
Jan Storch
Ideally, management practices in academia and business should be aligned. Both sectors should focus on enabling talented individuals to excel in projects that not only fulfil themselves but also ensure prosperity for all involved. In reality, however, these two areas differ primarily in terms of resource availability. In academia, there is usually no shortage of motivation or passion for discovery, but funding is often scarce. Conversely, in business, financial resources are more accessible, yet it can be challenging to help people ind meaning in their work and motivate them to give their best effort. What makes the two fields mutually enriching is the ability to learn from each other, bridging these gaps and managing both projects and people effectively.
Lenka Průšová
If you have ever worked in business, you understand how uncommon it is to have someone in your team who not only knows what needs to be done but also wants to do it and brings his or her own ideas to the table. It is incredibly rewarding when you can give someone the freedom to take initiative. This seems to occur more frequently in the scientific field, where individuals often join with the aspiration of pursuing their own interests. However, we cannot complain; even in business, we are fortunate to occasionally find remarkable individuals.
Strategic partnerships have enabled you to enhance skills globally. How do you approach finding partners, and what outcomes do you achieve from these collaborations?
Jan Storch
We are currently seeking strategic partners in the pharmaceutical sector of our business. While we are presently managing well on our own, we recognise that we will eventually require partners for our global endeavours. Our selection process involves very specific criteria, akin to those we use for our current collaborators. We aim to find partners whose goals align with ours and who can help elevate our business to new heights. It is also crucial that we connect with them on a personal level, as long-term partnerships are fundamentally about people. Media figures without substantial value will never capture our interest.
Lenka Průšová
We attempted that once for a while, and it was enough.
Thank you for the interview.
