NEW YORK, February 20, 2018 /PRNewswire/ --
According to a reportby New Frontier Data, the legal cannabis market was worth $6.6 billion in 2016 and is forecast to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. By segment,
A report by CNBC quotes MedMen CEO and co-founder Adam Bierman, who explains the current state of the industry: "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California, Nevada, Maine and Massachusetts all legalized recreational marijuana… The Canadian public markets offer access to a lot of capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play… Specifically, global investors want to invest in a U.S. play that has California exposure. Now is the time where it makes the most sense."
WeedMD Inc (OTC: WDDMF) is also listed on the TSX Venture Exchange under the ticker symbol 'WMD'. Announced recently that, "It has joined the world-renown Cannabis Database Project led by the Technion-Israel Institute of Technology." Together, they will be collaborating in the research of cannabinoid and terpenoid profiles of 25 of WeedMD's cannabis strains. This data will be added to an international database that correlates pharmacological effects used to determine the most effective cannabis treatments - strains, dose, and route of administration - for clinical purposes. This is just the first of multiple research and development initiatives WeedMD is embarking on, and plans to announce, as the Company further develops its medical cannabis offering for both the domestic and global medical cannabis markets.
"We are proud to be at the forefront of investing in cannabis research, awareness and education. There are hundreds of cannabis strains available to medical patients, but each of these strains has a unique chemical profile, as well potentially unique medical properties. It's inspiring to see that progressive thinkers are collating their data for leading-edge cannabis analysis," said Dr. Luc Duchesne, Chief Scientific Officer at WeedMD. "A significant barrier to the standardization of medical cannabis is identifying strains that are effective in the treatment of specific medical conditions and Technion is making ground-breaking discoveries to this effect. While we pride ourselves as a science-focused organization, we are privileged to augment our research and development capabilities with the leader in medical cannabis research."
"WeedMD is in a unique position to contribute data for our research studies and we're proud to welcome them to our Cannabis Research Project. For starters, we've identified 25 of WeedMD's strains that will undergo analysis for exact chemical compound composition pertaining to treatment of certain medical conditions," said Dr. David Meiri, Head of the Laboratory of Cancer Biology and Cannabinoid Research at Technion-Israel Institute of Technology. "We recently hosted members of the WeedMD team in Israel for important discussions on knowledge transfer and we're looking forward to this collaboration that could benefit Canadian, Israeli and worldwide medical cannabis patients for years to come."
Cannabis Database Project & WeedMD's Involvement - The Cannabis Database Project aims to construct an integrated database with both clinical data on cannabis patients as well data on cannabis usage history for patients in Israel and abroad. Acquired data from growers, Health Maintenance Organizations (HMOs), and other sources will be used for statistical and computational analyses, aimed to identify patient-class specific treatments and organize them into an accessible website for patients and physicians. WeedMD will contribute samples of 25 strains to state-of-the-art mass-spectrometry to consolidate into comprehensive profiles of the cannabinoid composition for a variety of cannabis strains that are used for clinical purposes in Israel. Technion has already profiled more than 150 strains, including all strains currently available under Israel's regulated medical cannabis market. The patient-specific and cannabis strain databases are combined, analyzed, and used to derive optimized treatment options thereby maximizing disease specific therapeutic efficacy while minimizing side-effects. For each patient class, the project analyzes the risks of side effects associated with different cannabis treatments against the patients' genetic backgrounds.
Zynerba Pharmaceuticals Inc. (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 December 3, 2017, the company reported new clinical data presented at the 2017 Annual Meeting of the American Epilepsy Society (AES) in Washington, DC. The key findings include that clinically meaningful responses to ZYN002, as measured by reductions in focal seizures from the baseline period of STAR 1, are correlated with continued treatment with ZYN002. Zynerba's ZYN002 CBD gel is the first and only pharmaceutically-produced CBD formulated as a patent-protected permeation-enhanced gel and is being studied in children with Fragile X Syndrome, adult epilepsy patients with focal seizures and osteoarthritis.
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Recently, the company announced that it has entered into a strategic partnership with a leading cannabis ancillary fund, Merida Capital Partners, and has received a $6 million equity investment from Merida to accelerate its near and long-term growth strategy. Kush Bottles plans to use the proceeds to expand its product portfolio, build new distribution channels and penetrate new legalized markets. The strategic partnership will focus on building Kush Bottles' East Coast distribution platform, and expanding the Company's footprint in medical and adult-use markets on the East Coast, where Merida has a strong presence. This will also create the opportunity for Kush Bottles, with Merida's assistance, to develop and execute its acquisition pipeline.
General Cannabis Corp. (OTCQB: CANN) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. On February 2, 2018, the company announced that its client Green Leaf Medical LLC, a leading grower and supplier of medical cannabis in Maryland, has successfully harvested its first crop and has passed all state-required laboratory tests. Now producing an estimated 500-600 pounds of high-quality medical marijuana on a monthly basis, Green Leaf is one of the leading fully approved suppliers in Maryland. Green Leaf also announced that it has begun the next phase of its expansion, increasing the size of its facility to approximately 50,000 square feet, a 67 percent increase from current capacity. The expanded grow house should be completed before the end of the year, raising production totals to nearly 1,000 pounds per month.
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pruritus and pain by selectively targeting peripheral kappa opioid receptors (KORs). Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies. Cara's most advanced CB compound, CR701, is in preclinical development. Dr. Joseph Stauffer CMO Cara Therapeutics, said: "Cannabinoid Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain."
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