CV Sciences operates two distinct divisions: pharmaceuticals and consumer products. These divisions are supported by our medical and scientific advisory board, and state‐of‐the art production facilities.
True vision by a father and son team, founder Michael Mona, Jr. and co-founder, Michael Mona, III, greatly contributed to reviving the hemp industry in the United States when they co-founded CV Sciences (formerly CannaVest) in 2012. The Monas were pioneers in the journey to bring hemp and hemp extracts containing cannabidiol (CBD) back to the U.S. after more than 70 years of prohibition.
Leading up to the formation of CV Sciences, the Monas studied the potential of cannabis and hemp, after seeing and hearing countless testimonials about the health and wellness benefits from this powerful and highly bioactive plant. They learned more about hemp as one of the oldest crops cultivated by human civilization, and as a sustainable crop grown for food, oil, and fiber.
In the early 2010s when hemp was still under prohibition in the U.S., the Monas established global supply chain relationships with respected European farmers growing certified food/fiber type hemp varieties that had been lawfully imported to the U.S. for years through products like hemp seeds or hemp oil. This visionary supply chain created the pipeline making CV Sciences the first bulk supplier of hemp extracts in the United States, even before the passage of the Farm Bill in 2014.
After passage of the 2014 Farm Bill, hemp was legal to be grown in the United States and CV Sciences leveraged its understanding of hemp agronomy to help grow the nascent industry. The Monas forged key relationships with academic institutions in Kentucky, a state deeply entrenched in the hemp story prior to its prohibition. CV Sciences even donated the first seeds legally planted in the United States at Murray State University in 2014, a partnership that remains to this day. Alongside its efforts with Murray State, CV Sciences began investing in hemp research with the University of Kentucky’s College of Agriculture, sponsoring the very first graduate student to study hemp cannabinoid research and production in the United States. These agricultural research efforts solidified the Company’s dedication to fostering the burgeoning hemp industry and has set the bar for many other academic programs today.
As CEO and President of CV Sciences, Mr. Mona, Jr., along with Michael Mona, III, set the overall direction and strategy for the Company, launching the PlusCBD™ Oil brand in 2014 and recruiting a stellar management team, ensuring the Company’s position as the leader in the hemp extract category. From 2015-2017, the Company focused on nationwide expansion of its PlusCBD™ Oil brand, targeting independent and mid-chain health food stores in the natural products channel, and quickly grew to be #1 in the hemp CBD category and a top 10 brand in overall food supplements, based on SPINS Scan Data.
In 2016, the Company seized on the opportunity to acquire a drug candidate aimed at treating smokeless tobacco use and addiction. This newly developed pharmaceutical division continues to enhance the Company’s mission of providing cannabinoid-based therapies to serious need states and medical indications.
In mid-2018, Mr. Mona, Jr. stepped down as President and Chief Executive Officer but continued as an employee to strengthen and transition the Company’s global supply chain relationships. On January 18, 2019, with those relationships solidified and strong, Mr. Mona, Jr. tendered his resignation as a CV Sciences employee. The founding spirit of the Company remains solid with the strong management team recruited by Mr. Mona, Jr., including his son, Michael Mona, III. Michael Mona, III currently serves as the Company’s Chief Operating Officer, leading the Company’s operations related to raw material procurement, extraction and refining, product development and manufacturing, and quality control and fulfillment. His responsibilities on critical supply chain operations are vital as the Company continues to increase its operating scale to meet the significant CBD product category growth anticipated over the next several years.