MMJ BioPharma Cultivation DEA Approval Imminent to Grow Cannabis
WESTERLY, RI and MONTEVIDEO, URUGUAY / ACCESSWIRE / June 5, 2023 / MMJ International Holdings (MMJ) and Global Cannabis Production (GCP) are pleased to announce their partnership to facilitate the first DEA legal import of tetrahydrocannabinol (THC) cannabis products from Uruguay to the United States, as well as a partnered development of cannabis pharmaceuticals for the global market. This partnership will bring breakthrough treatment options to patients and serve as a milestone in the growing field of cannabinoid medicine.
Founded with the mission to improve the lives of patients by providing better treatment options, MMJ is a market leader in the research, development, and commercialization of cannabinoid molecules as novel prescription pharmaceutical therapeutic candidates. MMJ's world-class scientific team collaborates with leading cannabinoid scientists around the world to enhance pharmaceutical solutions across the care continuum. The company's focus is to bring novel natural botanical plant and cannabinoid-based prescription medicines to the market as a pharmaceutical drug.
Following its inception, MMJ quickly commenced it FDA filings for its clinical trials to evaluate different cannabinoid formulations as potential therapeutics with an initial focus on the development of a gel cap formulation with two principal cannabinoid components, cannabidiol (CBD) and delta-9 tetrahydrocannabinol (THC). Working with leading cannabinoid scientists around the world, MMJ is continuing to explore the potential of a range of novel cannabinoid and other botanical molecules in several distinct therapeutic areas. MMJ's lead product candidate is a liquid formulation of highly purified CBD/THC being investigated for severe neurological disorders. This product is the result of extensive research.
GCP is a cannabis production group with the largest campus in the southern hemisphere. Their facilities provide high-quality cannabis raw materials and finished products to the medical and pharmaceutical industries. The company is dedicated to providing patients with access to safe, consistent, and effective cannabis-based products.
'WHERE VENTURE CAPITAL, INVESTMENT BANKERS, INSTITUTIONAL INVESTORS HAVE FAILED THE FUNDING NEEDS OF THE CANNABIS RESEARCH AND DEVELOPMENT SECTOR THIS IS AN INNOVATIVE NOVEL SOLUTION.' stated Duane Boise the company's CEO
GCP's parent company is Global Cannabis Holdings, a tokenized portfolio of 38+ cannabis companies one of which is MMJ. This is a much more efficient channel for attracting capital other than issuing shares, crypto tokens are issued. GCP raises capital through the sale of tokens and the proceeds will be reinvested in its portfolio companies. GCP's investment portfolio spans across 6+ countries which offers a diversified investment vehicle into the cannabis industry.
Together, MMJ and GCP are committed to developing FDA-approved cannabis medicines that best serve patients with unmet medical needs. MMJ has submitted several Investigational New Drug Applications with the FDA and has been awarded Orphan Drug Designation from the FDA for Huntington's disease. Additionally, MMJ anticipates it will receive Fast Track Designation from the FDA for its clinical trials. GCP's expertise in cannabis production, and relationships with pharma partners in South America, combined with MMJ's focus on pharmaceutical development, creates a partnership poised to make a significant impact in the medical and pharmaceutical industries.
'We are excited to partner with GCP to bring breakthrough treatment options to patients in need,' said Duane Boise, CEO of MMJ. 'Our mission is to improve the lives of patients, and this partnership is a major milestone in our commitment to developing novel cannabinoid-based prescription medicines.'
'We are proud to partner with MMJ and support their mission to improve patient care through the development of novel prescription medicines,' said David Luftglass, CEO of GCP. 'Together, we are positioned to create a positive impact in the medical and pharmaceutical industries and provide patients with safe, consistent, and effective cannabis-based products.'
The first legal import of THC cannabis products is expected to occur in 2023. Both companies look forward to working together to bring groundbreaking treatments to patients and revolutionize the pharmaceutical industry. This is Cannabis 3.0, the wave that will normalize cannabis medicines across the world.
MMJ is represented by Attorney Megan Sheehan of Rhode Island.
For more information on MMJ, please visit www.mmjih.com.
For more information on GCP, please visit www.globalcannabisproduction.com.
CEO, Global Cannabis Production
SOURCE: MMJ International Holdings
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