New York - Plandaí Biotechnolgy, Inc. announced this week that it has entered the medical marijuana industry with its new wholly-owned subsidiary, Cannabis Biosciences, Inc., for the purpose of developing and testing a new Phytofare™ botanical extract derived from cannabis. Many different companies have entered the industry, but few of them are biotechnology firms with the potential to use cannabis to better our lives, and even fewer have a technology that can potentially change the industry.

Plandaí executives stated they will preliminarily call the company's cannabis offering "Phytofare™ Phyto-cannabinoid Complex." What should set Plandaí apart from others in the industry is its technology, and the company says this new extract will share a similar extraction process to the other Phytofare™ products and is expected to demonstrate the same high levels of bioavailability and purity.

Plandaí uses its hydrodynamic sheering process to gain a much higher bioavailability with its other products, including green tea and citrus, and it will be this same process that could make an even bigger difference with cannabis to the medical community. During the extraction process the company says it could also remove the psychoactive compound (THC), rendering a botanical drug that offers many of the medicinal benefits of cannabis without the perceived negative side effects and social stigma.

The medical cannabis industry was valued at $1.3 billion in 2011, and recent projections have ballooned to almost $9 billion by 2016, with more and more states taking a long look at legalizing marijuana for medicinal purposes or decriminalizing the use altogether. Dan Rush, head of the United Food and Commercial Workers Union, recently told Reuters that he believes the medical cannabis business could rival the size of the U.S crop or alcohol industries.

Roger Duffield, Chairman and CEO at Plandaí said of the company's move into the medical marijuana arena, "For the past twelve months, the Plandaí team has been working with cannabis to first ascertain if our patent-pending process could produce a phyto-cannabinoid extract that exhibits the same high bioavailability of our other Phytofare™ products. Working with cannabis presents unique challenges in that it produces a very sticky oil that must be dealt with -- and that only after navigating the complex legal obstacles. However, the medicinal opportunities associated with phyto-cannabinoids are simply too great to ignore." In various third party laboratory studies, cannabis has proven effective in treating various neurological diseases such as MS, ALS and Parkinson's, hypertension, and different forms of cancer.



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Source: Finance.yahoo.com
Author: Stock Market Media Group
Contact: Yahoo Canada
Website: Plandai Biotechnology Enters Medical Marijuana Arena With Industry-Changing Technology - Yahoo Finance