Ron Strider
Well-Known Member
The LSU AgCenter has selected a New Orleans affiliate of a Las Vegas company for a proposed contract to produce a medical marijuana product for qualifying patients in Louisiana.
GB Sciences Inc. scored the highest overall score among seven potential vendors and was selected to move forward with contract negotiations, pending approval by the LSU Board of Supervisors.
GB Sciences Inc. is a publicly-traded medical cannabis company based in Las Vegas that has patented a number of compounds and developed techniques for growing medical marijuana. It has applied for licenses in Texas and California.
GB Sciences Inc. will work under the LSU AgCenter license in compliance with state law and rules established by regulatory agencies.
In 2015, the Louisiana legislature enacted a law allowing for the cultivation, production and use of medical marijuana. This law provides that the LSU AgCenter and Southern University Agricultural Center may be licensed for the production of medical marijuana. The medical marijuana programs will be regulated by the Louisiana Department of Agriculture and Forestry, the Louisiana Board of Pharmacy and the Louisiana State Board of Medical Examiners.
No taxpayer dollars will be spent on the project, estimated to cost as much as $11 million.
The company would first build a modular facility, adding units of growing capacity as needed, John Poss, CEO of GB Sciences, said in a recent Advocate interview. Eventually, GB would replace the first facility with a larger, permanent and more technologically sophisticated structure.
The company wants to partner with a university because GB Sciences is research-oriented, he said.
The company expects to benefit from the AgCenter's expertise in bringing scientific discoveries to market. GB Sciences also hopes to begin phase I clinical trials on some of its compounds within a year, testing them for patient safety, dosages and side effects. University Medical Center New Orleans is perfect for that, Poss said.
The AgCenter collaborated with multiple university departments, including the President's Office, Finance and Administration, and Procurement, in addition to working with external consultants to review similar proposals from other states with medical marijuana programs. Each qualifying offer was reviewed by a selection team composed of five members with expertise in administration, finance, medicine, botanical research and analytical chemistry, with oversight from LSU Procurement.
Poss said his firm's proposal sets aside $300,000 a year for continuing medical education.
Once patients and doctors can learn about the medically beneficial chemical compounds in cannabis, patient numbers will rise, along with revenue, he said.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Medical marijuana program operator selected by LSU AgCenter | Business | theadvocate.com
Contact: Help | theadvocate.com
Photo Credit: Associated_Press
Website: theadvocate.com | The Advocate | Baton Rouge News, Sports and Entertainment
GB Sciences Inc. scored the highest overall score among seven potential vendors and was selected to move forward with contract negotiations, pending approval by the LSU Board of Supervisors.
GB Sciences Inc. is a publicly-traded medical cannabis company based in Las Vegas that has patented a number of compounds and developed techniques for growing medical marijuana. It has applied for licenses in Texas and California.
GB Sciences Inc. will work under the LSU AgCenter license in compliance with state law and rules established by regulatory agencies.
In 2015, the Louisiana legislature enacted a law allowing for the cultivation, production and use of medical marijuana. This law provides that the LSU AgCenter and Southern University Agricultural Center may be licensed for the production of medical marijuana. The medical marijuana programs will be regulated by the Louisiana Department of Agriculture and Forestry, the Louisiana Board of Pharmacy and the Louisiana State Board of Medical Examiners.
No taxpayer dollars will be spent on the project, estimated to cost as much as $11 million.
The company would first build a modular facility, adding units of growing capacity as needed, John Poss, CEO of GB Sciences, said in a recent Advocate interview. Eventually, GB would replace the first facility with a larger, permanent and more technologically sophisticated structure.
The company wants to partner with a university because GB Sciences is research-oriented, he said.
The company expects to benefit from the AgCenter's expertise in bringing scientific discoveries to market. GB Sciences also hopes to begin phase I clinical trials on some of its compounds within a year, testing them for patient safety, dosages and side effects. University Medical Center New Orleans is perfect for that, Poss said.
The AgCenter collaborated with multiple university departments, including the President's Office, Finance and Administration, and Procurement, in addition to working with external consultants to review similar proposals from other states with medical marijuana programs. Each qualifying offer was reviewed by a selection team composed of five members with expertise in administration, finance, medicine, botanical research and analytical chemistry, with oversight from LSU Procurement.
Poss said his firm's proposal sets aside $300,000 a year for continuing medical education.
Once patients and doctors can learn about the medically beneficial chemical compounds in cannabis, patient numbers will rise, along with revenue, he said.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Medical marijuana program operator selected by LSU AgCenter | Business | theadvocate.com
Contact: Help | theadvocate.com
Photo Credit: Associated_Press
Website: theadvocate.com | The Advocate | Baton Rouge News, Sports and Entertainment
