e@UBC Venture Case Studies is an ongoing series highlighting top e@UBC ventures from our fully integrated programs.
Building New Drug Development Pathways Using Traditional Medicine
Tait Labs is on a mission to modernize traditional medicine for chronic conditions and overall health. CEO Andrew Tait is creating a unique business model that challenges the typical pharmaceutical pathway and gives patients a wider range of treatment choices.
"There is a divide between refined or molecular drug development and chronic diseases that already have existing natural remedies," Tait says. He recognizes the need for traditional drug development models but believes "we don't always need to refine a single molecule in order to treat disease and improve health."
Building this new drug development pathway requires scientifically backed traditional medicine and a large market. Andrew started working on his venture during his Ph.D. program at UBC, where he enrolled in the e@UBC Accelerator program. The e@UBC Accelerator supplied a framework for Tait Labs to test key hypotheses about their business and search for the foundations of a business model.
After testing their product ideas with naturopathic doctors and pharmacists, Tait Labs graduated from the e@UBC Accelerator program knowing they needed a more accessible market to build a business. Over the next six months Tait Labs relentlessly searched for a scalable business model, discovering a customer base in an unexpected industry - food supplements.
Tait Labs makes a scientifically tested high quality food supplement known as Mandarin Skin Plus (MS+), a physician-prescribed natural health product sold in Canadian pharmacies. The key ingredient is mandarin orange peels, an ancient Chinese remedy for 'gut health' and Irritable Bowel Syndrome (IBS) treatment.
Tait Labs was featured in the Financial Post’s article about Business Strategies: Staying on Top of Finances is in the Details. Additionally, they have won numerous awards, such as the 'Rising Star' award from the BC Food Processors Association. Housed in their new offices at Northview Ventures, Tait Labs is currently raising Series A financing to scale their business to fulfill the needs of a large global market.