More proof that Denver is becoming the go-to destination for all things cannabis
Only a few weeks after an American-born hemp entrepreneur announced he was moving his headquarters from Amsterdam to the Denver area comes word that a major biotech company specializing in research on marijuana is planning on setting up its headquarters in Denver in a 9,500 square foot facility.
Cannabis Science Inc., a pioneer in the field of developing pharmaceutical cannabis product, announced that it has entered into a long-term lease on the facility that will serve as its corporate headquarters and a research facility for developing, producing and testing medical cannabis.
Cannabis Science President and CEO Dr. Robert Melamede, PhD, said that combining their operations under one "secure, state-licensed facility will greatly increase our ability to provide patients with affordable cannabis based medicines.
Melamede added that not only will the company continue to product organic herbal cannabis, but they will also produce cannabis extracts, infusions and edible products.
"Quality control and the ability to develop standardized products are the essential keys to moving forward with both medical marijuana under state laws," said Melamede, "as well as being the basis of any pharmaceutical formulations we will submit for FDA clinical trials."
Cannabis Science Inc. is listed on the NASDAQ as CBIS and rose sharply today as the markets opened.
Cannabis Science Inc. CFO Richard Cowan said, "The revenue potential from this facility is obviously very significant, and we will make public our estimates on the projected revenue in the near future, but, as with our previously announced acquisitions in Colorado and Montana, our main focus will remain on R&D.
"As Dr. Melamede has pointed out," continued Cowan, "previously new biotech companies have never known whether proposed products were safe and effective until they were submitted for FDA clinical trials. Now Cannabis Science, working in states with medical marijuana laws, is changing the paradigm. We will know that the products we submit for clinical trials will be what the patients want and need. This new facility is a key part of our corporate strategy."
In related news, advocated for medical marijuana filed a petition today to ask the state to include post-traumatic stress disorder to the list of conditions that qualify for the treatment.
The petition, filed by Army veteran Kevin Grimsinger, contended that medical marijuana is effective in treating those with PTSD, in particular military veterans who are dealing with depressing and anxiety associated with combat.
Grimsinger, who lost both legs after stepping on a landmine in Afghanistan and now uses a wheelchair, told the Denver Post that marijuana eases the pain of his condition, both physically and emotionally. Grimsinger now works as a veteran outreach coordinator for a medical marijuana dispensary.
Brian Vicente, the executive director of medical marijuana advocacy group Sensible Colorado, said, "People who have served our country or other people who were injured and have PTSD should be able to have access to medicine that helps them."
Like advocates of medical marijuana for Parkinson's, asthma, anxiety and bipolar disorder before them, backers of medical marijuana for PSTD face scrutiny on a scientific level. The four previous conditions were all denied approval for medical marijuana because they reportedly lacked scientific proof that the drug helped alleviate the pain of the conditions.
Backers of the PTSD petition say they have proof from multiple studies that medical marijuana helps PTSD sufferers.
NewsHawk: Ganjarden: 420 MAGAZINE
Source: Examiner.com
Author: Kenneth Green
Contact: Examiner.com
Copyright: 2010 Clarity Digital Group LLC d/b/a Examiner.com
Website: Cannabis Inc. opening 9,500 sq. ft. facility in Denver
Only a few weeks after an American-born hemp entrepreneur announced he was moving his headquarters from Amsterdam to the Denver area comes word that a major biotech company specializing in research on marijuana is planning on setting up its headquarters in Denver in a 9,500 square foot facility.
Cannabis Science Inc., a pioneer in the field of developing pharmaceutical cannabis product, announced that it has entered into a long-term lease on the facility that will serve as its corporate headquarters and a research facility for developing, producing and testing medical cannabis.
Cannabis Science President and CEO Dr. Robert Melamede, PhD, said that combining their operations under one "secure, state-licensed facility will greatly increase our ability to provide patients with affordable cannabis based medicines.
Melamede added that not only will the company continue to product organic herbal cannabis, but they will also produce cannabis extracts, infusions and edible products.
"Quality control and the ability to develop standardized products are the essential keys to moving forward with both medical marijuana under state laws," said Melamede, "as well as being the basis of any pharmaceutical formulations we will submit for FDA clinical trials."
Cannabis Science Inc. is listed on the NASDAQ as CBIS and rose sharply today as the markets opened.
Cannabis Science Inc. CFO Richard Cowan said, "The revenue potential from this facility is obviously very significant, and we will make public our estimates on the projected revenue in the near future, but, as with our previously announced acquisitions in Colorado and Montana, our main focus will remain on R&D.
"As Dr. Melamede has pointed out," continued Cowan, "previously new biotech companies have never known whether proposed products were safe and effective until they were submitted for FDA clinical trials. Now Cannabis Science, working in states with medical marijuana laws, is changing the paradigm. We will know that the products we submit for clinical trials will be what the patients want and need. This new facility is a key part of our corporate strategy."
In related news, advocated for medical marijuana filed a petition today to ask the state to include post-traumatic stress disorder to the list of conditions that qualify for the treatment.
The petition, filed by Army veteran Kevin Grimsinger, contended that medical marijuana is effective in treating those with PTSD, in particular military veterans who are dealing with depressing and anxiety associated with combat.
Grimsinger, who lost both legs after stepping on a landmine in Afghanistan and now uses a wheelchair, told the Denver Post that marijuana eases the pain of his condition, both physically and emotionally. Grimsinger now works as a veteran outreach coordinator for a medical marijuana dispensary.
Brian Vicente, the executive director of medical marijuana advocacy group Sensible Colorado, said, "People who have served our country or other people who were injured and have PTSD should be able to have access to medicine that helps them."
Like advocates of medical marijuana for Parkinson's, asthma, anxiety and bipolar disorder before them, backers of medical marijuana for PSTD face scrutiny on a scientific level. The four previous conditions were all denied approval for medical marijuana because they reportedly lacked scientific proof that the drug helped alleviate the pain of the conditions.
Backers of the PTSD petition say they have proof from multiple studies that medical marijuana helps PTSD sufferers.
NewsHawk: Ganjarden: 420 MAGAZINE
Source: Examiner.com
Author: Kenneth Green
Contact: Examiner.com
Copyright: 2010 Clarity Digital Group LLC d/b/a Examiner.com
Website: Cannabis Inc. opening 9,500 sq. ft. facility in Denver
