NEW YORK, November 2, 2017 /PRNewswire/ --
New data published byVerify Markets, states that the wholesale legal cannabis market in the U.S was valued at $210.7 million in 2016. The increased legalization efforts in the November 2016 elections resulted in more states approving cannabis
A research report published by New Frontier Data shows how the pharmaceutical market will be influenced by medical cannabis. "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals," said Giadha Aguirre De Carcer, CEO & Founder, New Frontier Data.
Cannabis Wheaton Income Corp. (OTC: KWFLF) is also listed on the TSX Venture Exchange under the ticker symbol 'CBW'. Yesterday the company announced breaking news that, "the closing of the acquisition (the "Acquisition") of all of the issued and outstanding shares of RockGarden Medicinals (2014) Inc. ("RockGarden") pursuant to the terms of a definitive share purchase agreement (the "Share Purchase Agreement") dated October 31, 2017 (the "Closing Date"). The Acquisition furthers the Company's streaming platform strategy by providing the Company additional resources and regulatory tools to help accelerate Wheaton Licensing Program participants' pathway to licensing under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"). Located in Carleton Place, Ontario, RockGarden is a privately owned licensed producer of cannabis pursuant to the ACMPR. On August 25, 2017 RockGarden was granted a cultivation license (the "License")."
Hugo Alves, President of Wheaton Income commented, "When we set the strategy for Wheaton Income it was about building a dynamic platform that promoted sustainable growth for both the industry and our shareholders. The acquisition of RockGarden will act as a strategic tool to help us with on-going partnerships and opportunities, but most importantly the development and execution of our existing and prospective streaming relationships."
Chuck Rifici, Chief Executive Officer of Wheaton Income stated, "I couldn't be happier to work with RockGarden - whom I and the entire Wheaton Income team believe has tremendous pedigree well suited to succeed in a legal regulated environment. As much as this is a strategic acquisition, it is also a cultural acquisition for us. We pride ourselves on building valuable, ethical and long-standing relationships within the industry and are excited to welcome the incredible RockGarden team to the Wheaton Income family. It's a winning combination as the industry moves forward and becomes continually more competitive. This acquisition represents another way that the Wheaton Income platform drives Growth by Diversity."
"RockGarden management and shareholders are thrilled to join the Wheaton family. Cannabis Wheaton's all-star team has both industry-leading experience and financial acumen which are key requirements to becoming a national leader in the cannabis industry. We are proud to be an important part of that success," stated Deborah Hanscom, Chief Executive Officer of RockGarden.
Zynerba Pharmaceuticals (NASDAQ: ZYNE) is dedicated to improving the lives of people with severe health conditions where there is a high unmet medical need by developing and commercializing pharmaceutically-produced transdermal cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. On September 28, 2017, the company announced positive top line results from an open label exploratory Phase 2 FAB-C (Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with CBD) clinical trial evaluating ZYN002 cannabidiol (CBD) gel in pediatric and adolescent patients with Fragile X syndrome. The study successfully met its primary endpoint, achieving a 46% improvement (p<0.0001) in the total score of Anxiety, Depression, and Mood Scale at week twelve compared to baseline. ZYN002 also achieved clinically meaningful improvements in all measures of the Aberrant Behavior Checklist for Fragile X, which address the key symptoms of FXS including social avoidance, temper tantrums, repetitive movements, and hyperactivity. Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a synthetic oral endocannabinoid-mimetic drug that preferentially binds to cannabinoid receptor type 2 (CB2) expressed on activated immune cells and fibroblasts. Recently, the company announced that the U.S. Patent and Trademark Office issued U.S. Patent No. 9,801,849 to the Company with claims covering the use of pharmaceutical compositions comprising anabasum. The patent provides intellectual property protection for Corbus' use of anabasum to treat inflammatory diseases in the United States through 2034. Cara Therapeutics Inc (NASDAQ: CARA) is a clinical-stage biotechnology company located in Stamford, CT focused on developing and commercializing new chemical entities designed to fundamentally change the way acute pain, chronic pain and pruritus are managed. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Cara's most advanced CB compound, CR701, is in preclinical development. Dr. Joseph Stauffer, CMO of Cara Therapeutics, explained, "Cannabinoid Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain." Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. On September 6, 2017, the company announced that it has granted an exclusive license to the Sowilde Management Group, Inc. to allow Sowilde to produce products under the Company's "hi" and "White Rabbit" brands. "Sowilde Management Group understands the market uniqueness of these products for the rapidly growing industry. We believe Sowilde is a great fit to exploit our brands and intellectual property in the State of California," said President David Tobias.
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