A large cannabis cola on display in an indoor grow operation.

Israeli Cannabinoid Drug Maker Launches IPO, Eyes Nasdaq

11/07/2016

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Israel-based Therapix BioSciences is seeking to be listed on the Nasdaq and has filed a $12 million initial public offering to that end, according to a report from Fierce Biotech. The company is already listed on the Tel Aviv Stock Exchange and trades on the US over-the-counter market.

Therapix is developing drugs based on cannabinoids for the treatment of cognitive impairments such as Tourette syndrome and Alzheimer’s disease, with plans to kick off Phase I research on a THC tablet next year.

If approved, the firm would join London’s GW Pharmaceuticals and the U.S.-based Arena Pharmaceuticals and Zynerba Pharmaceuticals as drug makers with cannabis ties trading on the Nasdaq, the report indicates.

GW produces Sativex, approved for treatment of spasticity conditions, which is available in 15 countries, including the UK, Spain, Germany, and Italy. Epidiolex, a drug with potential as an epilepsy therapy, is in late-stage trials.

Arena currently only has one drug on the market, weight-loss medication Belviq. The company is currently trialing a cannabinoid receptor 2 agonist for pain treatment.

Zynerba raised $42 million last August in its IPO. The firm is developing two cannabis-related drugs – one a synthetic CBD and the other THC-based. The synthetic CBD product is currently in Phase 2 trials for patients with refractory epilepsy and patients with osteoarthritis of the knee. A phase I clinical trial for their THC drug is expected to begin in the first half of 2017.

Last month, cannabis-related real estate investor trust Innovative Industrial Properties Inc. filed to become a publicly traded company, which if approved would make it the first business directly associated with cannabis to be traded on the market. In May, Nasdaq denied the bid by cannabis social network MassRoots to have its shares listed and traded on the exchange.

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Furry companions (cat and dog) sleeping together in the dog's bed.

Creso Signs Deal with Pet Product Specialists to Develop and Distribute Cannabis Therapies for Pets

11/07/2016

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Creso Pharma has signed a deal with two European companies as part of a strategy to target the pet medical marijuana industry, the company announced in a press release. The agreement will see the Australian Stock Exchange-listed company work with A&H, a Dutch veterinary product manufacturer, and Grieving Holdings Netherland, a wholesaler, to develop products for pet owners and veterinarians.

Dr. Miri Halperin Wernli, Creso CEO and co-founder, said that many medical conditions, such as behavioral-based disorders, pain, arthritis, inflammation, metabolic conditions and allergies, afflicting pets are “poorly treated by current therapies.”

“With many people now choosing botanically derived hemp products over synthetic supplements for human ailments, it makes sense that we are developing these treatments for our pets as well,” she said in the release. “Just like in people, they can greatly improve the pet’s quality of life and reduce a lot of the symptoms.”

According to an August report from Mordor Intelligence, the veterinary healthcare market is expected to be worth $39.7 billion by 2021.

Creso’s products aim to supplement deficient and unbalanced endocannabinoids with the natural phyto-cannabinoids to help an animal’s body restore synergy and homeostasis with its endocannabinoid system, the release says.

The deal comes three weeks after the company’s debut on the ASX, and one week after the company signed its first commercial distribution deal in the Czech Republic with MEDI-IN.

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An Idaho state police car parked on the side of the street.

Idaho Mother Loses Custody of Children After Treating Daughter’s Seizures with Cannabis

11/07/2016

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A mother in Idaho has had her two children taken from her after she gave her 3-year-old. who suffers from seizures, a smoothie infused with a tablespoon of canna-butter, KTVB 7 reports. Idaho does not allow medical marijuana use.

Kelsey Osborne said that providing cannabis to her daughter for her seizures was her “last resort” but maintains that she did the right thing. The fits stopped 30 minutes after she provided the smoothie to her child.

“I’ve seen it for my own eyes with people out of state who have used it and it’s helped them or their children,” she said in the report.

Following the incident she took the child to a doctor, who called the state Department of Health and Welfare after the 3-year-old tested positive for cannabis. The state removed both of Osborne’s children from her home, put them under the care of their father, and charged the mother with misdemeanor injury of a child. She pleaded not guilty.

Tom Shanahan, public information manager for the Health and Welfare Department, said that cannabis and the drug used to treat epileptic seizures – which contain only CBD – are not interchangeable and that even in states with medicinal programs it’s “not legal” to give cannabis to children.

“[Marijuana] can cause brain development issues with a child, so we view that as unsafe or illegal,” Shanahan argued. “We want children to be in a safe place.”

He noted that while Idaho does not have a medicinal cannabis program, an FDA program in Boise uses CBD as an experimental treatment for 34 children suffering from severe epilepsy.

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The PenSimple is a new grinder product that automatically dispenses ground herb directly into your pipe, paper, or vaporizer.

PenSimple: New Grinder Technology for the Active Cannabis Consumer

11/04/2016

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More than three years ago, two entrepreneurs from Ohio set out to revolutionize the modern understanding of herb grinders. Now, with the release of their PenSimple product just around the corner, that long wait looks to be finally coming to a close.

The PenSimple grinder lives up to its name: it’s not significantly bigger than most vape pens, and it is very user friendly. The grinder section at the top of the PenSimple functions exactly as anyone who is familiar with conventional, manual grinders would expect — though the chamber is perhaps longer and narrower than most conventional grinders.

Where the PenSimple surpasses the specifications of other grinders, however, is in its electronic herb dispenser, which allows users to dispense as much or as little of the PenSimple’s contents into a bowl, rolling paper, or dry flower vaporizer. The herb dispenser mechanism holds a battery charge for as many as 100 uses and can be easily recharged with any micro USB cable. Finally, at a $70 price point, the PenSimple is still cheaper than many of today’s top grinder brands.

pensimpleparts
The PenSimple on display (disassembled and assembled views are both shown).

The idea for PenSimple was born from founder and CEO Brian Seckel’s unfortunate mishap one windy day at the frisbee golf course.

“I was outside, I had all of my remaining nugs packed full in my grinder, getting ready to … have a nice smoke,” Seckel said. “I unscrew the grinder, and as I’m unscrewing it kind of flips a little bit — the top comes off, the bottom goes crashing to the ground, and I lost all my herbs to the ground.”

That was the tipping point for Seckel, and instead of his planned afternoon of relaxation and television, he spent the rest of that day making plans to prevent such a spill from ever happening to him again. “I wanted some way that I could smoke while playing frisbee golf … that wasn’t just a one-hitter and dugout. I wanted to be able to take a bowl and go out and smoke it outside,” he said.

Seckel contacted his friend and longtime college roommate Jesse Gruber, and the two started to spend evenings working on designs and prototyping their product using a 3D printer in the public library. The pair spent more than two years honing their design like this. “We went through probably hundreds of different iterations in terms of just 3D printing different dispenser mechanisms,” Seckel said.

When they had a prototype that was nearly finished, Seckel and Gruber applied to and were accepted by CanopyBoulder, a cannabis startup accelerator in Boulder, Colorado.

The PenSimple team relocated to Boulder and in recent months has focused on ramping up production to meet the level of demand their new product has drummed up. According to Seckel, “We’ve seen a lot of success with preorders.”

Although Seckel expects to ship their first wave of products sometime in early December, the entrepreneurial journey behind PenSimple is far from over, as its creators have also announced plans for a line of accessories and attachments that will allow users to customize their grinders. These accessories are likely to include options for increased herb storage, new grind pieces to make your grind especially fine, and even a joint roller attachment that would allow you to insert nugs and dispense a fully-rolled joint.

However, such PenSimple attachments are unlikely to be available until sometime next year, as its creators are still in the planning and prototyping processes.

To learn more about or to pre-order your own PenSimple, visit GetPenSimple.com.

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The Stock Exchange Building in Montreal.

Golden Leaf Holdings Raises $9 Million in Debenture Offering

11/04/2016

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Cannabis oil and solution provider Golden Leaf Holdings has raised nearly $9 million during the third tranche of non-brokered private placement of convertible senior secured debentures, the company announced in a press release. As of Nov. 2, nearly $3 million in principle amounts of debentures were issued at a price per debenture of $743.70.

The debentures carry a holder’s option to convert into common shares at .22 cents per common share after they mature 18 months from the date of issuance and carry an interest rate of 10 percent annually.

The company plans on using the proceeds from the offering for working capital.

Golden Leaf retained AlphaNorth Asset Management as its financial advisor in connection with the offering. The deal with AlphaNorth will see the firm paid 8 percent of the gross proceeds from the offering.

The company is traded under the symbol GLH on the Canadian Stock Exchange and was approved as an over-the-counter stock in the U.S. on Nov. 1, under the symbol GLDFF. The company’s products are available in both medicinal and adult-use markets in Oregon.

Correction:  This piece previously mentioned Lunchbox Alchemy and Dab Society Extracts among Golden Leaf’s partners, which was inaccurate. These companies are not affiliated with Golden Leaf Holdings in any way.

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Cannabis leaf under the glow of indoor LED grow lights.

University of Miami Researchers to Study CBD as Potential Concussion Therapy

11/04/2016

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Researchers at the University of Miami have launched a five-year study to evaluate the effectiveness of CBD as a treatment for traumatic brain injury, backed by a $16 million grant from Scythian Biosceiences.

The study will be part of The Miami Project to Cure Paralysis carried out by the Miller School of Medicine believe the compound could reduce post-injury cell inflammation, pain, headaches and post-concussions syndromes. The Center of Disease Control estimates that about two million children and teenagers are impacted by TBI, which contributes to about 30 percent of all injury deaths in the US. Since 2000, there have been about 345,000 diagnosed cases among U.S. Armed Forces members.

Dalton Dietrich, Ph.D, scientific director for The Miami Project and neurology surgery professor at the Miller School, said that the short and long-term effects of both TBI and concussion are “well documented but poorly understood.”

“We face a number of major obstacles, such as clinically relevant models that address the complex pathophysiology of circuit dysfunction and recovery mechanisms associated with TBI,” he said in a press release. “The testing of novel compounds, including this approach using the cannabinoid/NMDA antagonist combination, are needed to treat cognitive and emotional consequences of single and repetitive brain injuries.”

The study will be headed by Gillian Hotz Ph.D, research professor of neurological surgery and director of the KIDZ Neuroscience Center. As the Director of the Concussion Program at the University of Miami Health System Sports Medicine, Hotz helped develop a national concussion protocol.

“One thing has eluded us — a clinically proven medication to treat concussion. Whether or not this study leads to a pill that could treat concussion, this type of research will pave the way for UM and other researchers to better manage concussion,” she said in the release. “It’s a privilege to help lead this journey.”

Pre-clinical studies evaluating rodent models of TBI will begin in years one and two. Phase two will involve a small human pilot study and, if successful, a fully-powered clinical trial would commence over the next three years with FDA oversight.

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Cannabis Penny Stocks Seeing Gains as Election Day Draws Near

11/04/2016

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According to Viridian Capital Advisors’ Cannabis Stock Index, last week proved to be a successful one for publicly traded cannabis stocks. The report, outlined by Equities.com, showed that the “Touching the Plant” segment rose 33.4 percent, which outpaced the Ancillary Products and Services segment. The Cannabis Stock index outperformed the major stock market, according to the report, rising 22.8 percent for the week ending on Oct. 28.

“We attribute the rise in the Index, specifically following the end of the first half, to the anticipation of the new cannabis markets that may come online following the elections this November,” analysts wrote in the report.

Additionally, the Biotech/Pharma Sector rose 75.8 percent, and the Consulting Services sector gained 41 percent during the week.

Akin Oyedele, a Businesses Insider markets reporter, suggested that the cannabis industry’s penny stocks “are trading as of most states will say yes to legalization.”

In four days, five states will vote on legalizing cannabis for adult use, and four others will decide whether or not to implement or expand their medical cannabis programs.

The Viridian index tracks the performances of about 50 cannabis companies traded in the over-the-counter market. The companies tracked must meet certain basic characteristics, including market capitalization, trading volume and Securities and Exchange Commission filing requirements.

The Viridian Cannabis Stock Index has gained 182.3 percent in the year-to-date.

Editor’s note: If you’re not familiar with penny stocks, we encourage you to make sure you know what you’re getting into before you start investing. Watch out for pump-and-dump schemes and companies that are constantly making vague “announcements” without being able to show any actual progress, action, or clear direction forward.

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An indoor marijuana grow operation.

Oregon Health Authority Issues Alert for 3 More Strains

11/04/2016

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For the second time in a month, the Oregon Health Authority has issued an alert over tainted cannabis sold in state dispensaries, Salem-News reports. The alert affects the strains Pleeze, Dryzl, and Dutch Treat.

Strains of Pleeze and Dryzl sold at Stonies in North Bend and Green-Way Medicinal in Salem were found to have levels of the pesticide piperonyl butoxide above OHA regulations. The sales at Stonies occurred between Oct. 16 and Oct. 25 and affect about 250 customers. Sales of the tainted strains at Green-Way affect about 90 customers and occurred between Oct. 15 and Oct. 23.

The “action level” set by the OHA for piperonyl butoxide is 2 parts per million; the Pleeze strain tested at 15.39 ppm, while Dryzl tested for 16.24 ppm – both exceeding OHA levels by 8 times. The compound is classified as a synergist chemical, meaning that the chemicals enhance the pesticidal effects of other compounds but do not have an effect on their own.

The strain of Dutch Treat affected by the alert contained higher-than-permitted levels of spinosad and was sold between Oct. 15 and Oct. 26 at Flower of Lyfe in Eugene. The OHA action level for the compound is 0.2 ppm, and the affected strains were found to have 0.9 ppm. The compound is known to have low toxicity to people and other mammals.

Much like the last products subject to an OHA alert, it is suspected that the products were transferred even after failing test results by a licensed laboratory.

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Indoor cannabis growing facility in Washington state.

New Albuquerque Business to Serve NM’s Medical Cannabis Patients and Providers

11/03/2016

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MountainTop Extracts recently became New Mexico’s first licensed indoor BHO/PHO solvent-based extraction plant in their new state-of-the-art production facility located in Albuquerque.

MountainTop spokesman, Jeremy McCollum, said the operation will be serving the burgeoning medical cannabis industry in New Mexico. McCollum stated, “Our focus is to produce and distribute safest and purest medicine for the patients in the NM Medical Cannabis Program.”

According to the NM Department of Health, MountainTop’s Class 1 Division 1 facility is the first of its kind in the state and is currently the only indoor, solvent-based extraction facility licensed and approved to process cannabis in New Mexico.

Cannabis extraction is a process of pulling the concentrated oils containing the active compounds like THC and CBD from the plant’s flowers and byproducts including leaves and trimmings. This concentrated oil can then be further processed to produce various forms of medicine.

MountainTop Extracts will be contracting their extraction and product manufacturing services for NM’s licensed non-profit producers. Because the safest method of production for medicines can be produced only in a clean and sterile environment such as MountainTop’s new facility, NM patients now can expect to receive medicine that meet the highest industry standards.

MountainTop Extracts built the facility with a focus on:

  • Supplying the highest quality medicine to patients
  • Providing a safe working environment for employees
  • Utilizing natural, repurposed or renewable resources during construction
  • Compliance with all safety rules, guidelines and regulations
  • Redundancy to provide backup in case of equipment failure

This new MountainTop facility exceeds current health and safety standards set by the State of New Mexico Department of Health and was built to the same high safety standards that are currently being implemented in the State of Colorado. The new lab features state-of-the-art extraction equipment that has garnered more extraction awards than any other equipment in the industry. MountainTop Extracts will operate with superior safety features like: gas monitoring alarms, a custom-engineered ventilation system and explosion-proof wiring and electrical components.

The owners of MountainTop recognized that processing medicine in an outdoor environment, in the wind and dust, is not conducive to manufacturing a quality product. In order to produce medicines that are free from potential contaminants, the equipment and the cannabis product must be stored and produced indoors within a medically sterile and hygienic indoor laboratory location. Currently, all other licensed BHO extractors in NM are making their products in outdoor production environments.

Owners of the new company are Albuquerque residents, Jeremy McCollum, Eric Merryman, and Jennifer Merryman. These three local entrepreneurs combined their passions for cannabis genetics, growing methods, extraction science into their new business. Their vision includes a commitment to social justice issues surrounding the medical cannabis community and growing their company in New Mexico, dedicated to ethical, socially progressive and environmentally conscious business practices.

According to McCollum, MountainTop Extracts has been designed as an entrepreneurial group dedicated to collaborating with other like-minded people who share their passion in order to produce the most effective and highest quality medicine for patients.

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Inside the Ohio State House's Senate chambers.

Ohio Releases Draft Rules for MMJ Cultivators

11/03/2016

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The Ohio Department of Commerce has released their draft rules for would-be cannabis cultivators for the state’s medical marijuana program. In all, 12 Level I licenses will be available and six Level II, but the fees associated with the licenses are steep.

The fee for Level I cultivators runs $180,000 and carries a $20,000 application fee. For Level II cultivators the license fee is $18,000, with a $2,000 application fee, according to the documents.

Level I licensees are permitted 15,000 square feet of space, and Level II cultivators are allowed up to 1,600 square feet. No more than two licenses are permitted to be issued “in any one designated territory,” the rules state. Additional licenses will be made available on Sept. 9, 2018.

Furthermore, the rules, outlined in a fact sheet, require that cultivators “demonstrate adequate capital to meet facility plans and operational needs,” with Level I cultivators seeding to show $500,000 in liquid assets; $50,000 for Level II.  Growers must allow the Commerce Department to conduct facility inspections and they must pass an initial inspection and be ready to cultivate their plants within nine months of being issued a license. The rules require seed-to-sale tracking systems and product testing by a licensed laboratory.

The public comment period for the guidelines opened yesterday, and the department will seek the input of the Medical Marijuana Advisory Committee before the rules are enacted.

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Skyline picture of the city of Sydney in New South Wales, Australia.

New South Wales, Australia MMJ Clinical Trials Delayed

11/03/2016

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Just one of the three medicinal marijuana clinical trials in New South Wales, Australia has begun on schedule with two others months behind, according to a report from the Australian Broadcasting Company. Premier Mike Baird had announced trials for terminal cancer, chemotherapy and pediatric epilepsy in December 2014, but so far only the epilepsy trial is underway.

The first phase of the clinical trial for terminal cancer patients was set to launch in July but is delayed because the government has been unsuccessful in securing a suitable placebo to test against cannabis. Officials have chosen not to launch the program until the issue is resolved.

Assemblymember Tania Mihailuk said the delay “will distress unnecessarily many patients desperate for treatment,” calling the delay “appalling.”

“Stop dicking around. Stop telling us lies about where we are with medicinal cannabis,” she said in the report. “Get this trial back on track.”

A spokeswoman for the NSW government did not offer a timetable for when the trials might begin, saying the government hoped it would be “as soon as possible.”

“This is the first time in Australia that a botanical cannabis product has been used in a trial,” she said. “Obtaining approvals for the placebo from the Dutch authorities has taken longer than expected. Within weeks of placebo arriving in the country, the researchers will be in a position to commence patient enrollment.”

The first phase of the cancer trials would involve about 30 patients to decide the dosage, delivery method, and potential side effects of medicinal cannabis. The second phase, involving about 300 patients, would test the drug against a placebo in order to determine its effectiveness.

The spokeswoman indicated that updates on the chemotherapy trails would be made “shortly.”

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Cannabis plants in an indoor grow facility.

Arkansas Voters Sue State Over Issue 7 Disqualification

11/03/2016

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Three Arkansas voters are suing the state arguing they have been disenfranchised due to the state Supreme Court’s disqualifying of the Issue 7, or the Arkansas Medical Cannabis Act, the Arkansas Democrat-Gazette reports. The lawsuit seeks to allow early voters who voted for the measure to be able to correct their vote — and support Issue 6, the Arkansas Medical Marijuana Amendment — through an affidavit.

The Supreme Court struck down the initiative on Oct. 27, four days after early voting had commenced and more than 144,000 had cast their vote, after invalidating some of the signatures gathered during the petition process, leaving the measure with too few signatures to appear.

According to the lawsuit, the two voters from Marion County and one from Pulaski County claim that they would have voted for Issue 6 if it were the only measure on their ballot. The lawsuit is also asking that the court require election officials to ensure that volunteers at polling places are aware of the Issue 7 situation.

“Whatever notice is required in order to comply with due process in this highly unusual situation, the notice being provided at present does not meet the requirements of federal law,” Jack Wagoner, the attorney for the plaintiffs, said in the lawsuit. He estimates that as few as 10 percent and as many as 20 percent had already cast their ballot before Issue 7’s disqualification.

“This complaint seeks to ensure that the election complies with due process and is less vulnerable to challenge regardless of the outcome,” Wagoner wrote in the lawsuit. “This means attempting to create a voting environment where a voter cannot help but be informed that votes for Issue 7 will not count.”

According to the lawsuit, the “best manner possible” to notify voters is for election officials to hand out notices to voters on Election Day or prominently display signage that reads:

“Notice: Although you will still see Issue Seven (7) on your ballot, if you vote for Issue Seven (7), the Arkansas Supreme Court has ruled that your vote will not be counted. The only remaining issue on the ballot related to medical marijuana is Issue Six (6). Voters for or against Issue Six (6) will still be counted.”

The case was assigned to Senior United States District Judge James S. Moody Jr.

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Football players lined up to hike the ball.

Majority of NFL Players Support MMJ Use

11/03/2016

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According to an ESPN survey of active NFL players, 61 percent said they believed fewer players would take pain-killing shots if the league would allow medicinal use of cannabis, with 41 percent saying it would be more effective at controlling pain.

Cannabis is one of eight drugs banned by the NFL, despite it having less known side effects than Toridol — a chemical pain killer and anti-inflammatory commonly used in the league. The survey found 64 percent of respondents indicated they had taken an injection of the drug or another pain killer during their career. Positive test results for cannabis lead to disciplinary measures such as suspension and fines.

About two-thirds of the respondents said they were concerned about the long-term effects of chemical pain killers, with 42 percent admitting that they have had a teammate become addicted to the drugs.

Seventy-one percent of the players indicated that cannabis should be legal, with one player pointing out “it’s legal where I live, but not where I work.”

Three of the league’s teams hail from cities that allow adult cannabis use – the Seattle Seahawks, the Denver Broncos, and the Washington Redskins — and as more states legalize cannabis it could put pressure on the league to reevaluate its policies.

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A large sum of U.S. dollars rolled up with a rubber band.

Dispensary Owner Fights California Officials Over Funds Seized in Raid

11/02/2016

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A Kearny Mesa, California dispensary owner is seeking the return of assets seized during a February raid after neither he nor his employees were formally charged with any crime, according to a report from the San Diego Tribune.

Following the crackdown, James Slatic’s bank accounts, along with those of his wife and two teenage daughters, were frozen and his dispensary, Mid-West Distribution, was shuttered, leading to all 35 of his employees losing their jobs, health benefits and retirement accounts. Slatic is not fighting to have the dispensary cash and property returned, rather just the $100,000 seized from the family’s accounts.

“It’s the dirty little secret of the American justice system,” Slatic said in the report. “They can come in and take all your money and property just on the say-so of a police officer. Once they do that, you have to go to court and prove why your money is not guilty.”

Steve Walker, spokesman for District Attorney Bonnie Dumanis, said the Office opposes the release of any funds or property seized by law enforcement because the case remains under investigation and that confiscations aid in crime prevention.

“The primary mission of the asset forfeiture program is to enhance public safety by removing the proceeds of crime and other assets relied on by criminals to perpetuate their criminal activity,” he said.

Slatic argues that he has paid all of his federal and state taxes for the businesses, which was licensed by the city of San Diego, and has the paperwork to prove it.

“I’m a 57-year-old entrepreneur and businessman,” Slatic said. “You always think the laws are designed to protect middle-class gray-haired guys supplying jobs, then one day you wake up with 28 helmeted SWAT guys with automatic weapons breaking down your front door with a sledge hammer.”

San Diego Police Detective Mark Carlson, said that the dispensary was using chemicals to extract oils from cannabis, in violation of state law, and argues that the family was attempting to hide the proceeds from the extraction business.

“Based upon my review of Wells Fargo documents and documents provided by Schools First and North Island Credit Union, Slatic has transferred significant funds from his concentrated cannabis extraction business to his wife Annette Slatic, who in turn has deposited some of these funds, at least $210,200 into her Wells Fargo accounts,” he said in the report.

In a court filing, Slatic’s lawyers argue that “writing a check to one’s wife is hardly suspicious” and the government has so far failed to show any evidence that there was any wrongdoing.

Last month Gov. Jerry Brown signed legislation barring law enforcement from seizing any asserts worth up to $40,000 without a criminal conviction; however that law will do little to help Slatic because his seized property exceeds that amount. According to a report by the District Attorney’s Office to the federal government, the office has more than $2.4 million in seized funds on hand.

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Ireland’s GreenLight Medicines Partners with Ulster University for Arthritis Study

11/02/2016

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A study in Ireland is underway by Ulster University and GreenLight Medicines which aims to determine the effectiveness of cannabis therapies as a treatment for arthritis, the Irish Examiner reports. According to Dr. David Gibson, the lead researcher and rheumatoid arthritis specialist, “the research will explore which compounds of the plant are the most promising and help inform dosage recommendations” before clinical trials on arthritis patients are performed.

“We are studying several components of the cannabis plant which have been shown to possess anti-inflammatory properties,” he said in the report. “Specifically, we’re investigating the use of cannabis-based extracts that have been proven to reduce inflammation, and we wish to explore the full therapeutic potential of these molecules in relation to several inflammatory diseases.”

The study, backed by more than $1.2 million, will be conducted over five years.

Dublin-based GreenLight Medicines primarily focuses on the potential of cannabis as a treatment for arthritis, multiple sclerosis, glaucoma, cancer, and epilepsy. The research could help validate the company’s first product, targeted at osteoarthritis and rheumatoid arthritis patients.

Last month the pharmaceutical startup secured more than $550,000 in private funding, including commitments of about $140 million in CBD oil from Swiss-American firm Isodiol, to develop “breakthrough medicines” using cannabis extracts.

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Sign reading "Welcome to Massachusetts" on the Massachusetts state line.

Legal Cannabis in Massachusetts Could Impact New York’s MMJ Program

11/02/2016

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New York’s medical marijuana program could be disrupted if voters in Massachusetts vote ‘yes’ on the ballot initiative to legalize cannabis for adult use, according to a report by NPR-affiliate WAMC. However, because the Massachusetts law could take up to two years for implementation, sweeping changes could be made to New York’s medical program that could prevent medical refugees from crossing state lines.

Chris Alexander, policy coordinator for the New York Drug Policy Alliance, suggests that once a Northeastern state moves toward legalization, it could have “a very significant change” in the way New York legislators tackle the issue.

“The Massachusetts border an hour away from Albany, and just the impact that that will have, the challenges that will come up from New York having to deal with interstate commerce and New Yorkers leaving the state to access recreational marijuana,” he said in the report. “So it gives legislators an opportunity to see firsthand how regulations can work. Massachusetts, in observing and studying legalization, sent some of their elected officials to Colorado. I think that’s something that we should do here as well.”

At least one sheriff, Rensselaer County’s Pat Russo who has jurisdiction over the state borders, indicated that he plans on increasing patrols on the county line and on the roadways between the two states.

Assemblyman Richard Gottfried, who sponsored the state’s medical marijuana legislation, said that it’s only a matter of time until the New York legislature takes up adult-use cannabis legislation due to the support of the electorate, and if the Bay State initiative passes it “will help raise the visibility of the issue, raise the sense of it being achievable and help move the issue forward in New York.”    

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Canadian dollar bills stacked on top of each other.

Canada’s Budget Office Estimates Cannabis Market Worth Hundreds of Millions During Flagship Year

11/02/2016

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According to Canada’s Parliamentary Budget Office, sales tax revenues from legal cannabis could be between $356 million and $959 million once the drug is legalized nationwide, as is expected this spring. The figures are based on legal per gram prices between $7.48 and $9.34 with only federal and provincial sales tax applied.

Parliamentary Budget Officer Jean-Denis Fréchette notes that the office expects the revenues to, eventually, climb into the billions of dollars and that the new sector will create both new revenues and expenses for the government.

“Different products, such as edibles and concentrates, may require entirely different approaches to taxation,” the report states. “These variations, along with others, each have different implications for market incentives and fiscal revenues.”

The PBO projects that in 2018 — the likely first year of legal sales — Canadians will consume between 378 and 1,017 metric tons of cannabis and that the legal market will be largely driven by individuals who consume the drug daily or weekly. The office suggests that between 3.4 million and 6 million Canadians will consume cannabis at least once after it is legalized nationally.

“Ultimately, no one knows exactly how legalization will impact the cannabis market — in particular, how use patterns will evolve, especially among frequent or youth consumers; how illicit and legal market prices will respond; the extent to which Canadians will participate in the recreational, medical and illicit markets; or how consumer tastes and product offerings, including value-added products, will change,” the report says.

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The large "cola" nug of a homegrown marijuana plant.

Colorado Lawmakers Call Out Anti-205 Campaign Ads in Arizona

11/01/2016

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A trio of Colorado lawmakers have sent a letter to Arizonans for Responsible Drug Policy calling the information in their anti-Proposition 205 campaign commercials “highly misleading” and “wholly inaccurate.” The letter, published by AZ Central, says that Colorado citizens are “confused” by the claims made in the ads and provided a factsheet to dispel the rumors.

“As members of the Colorado Legislature who played intimate roles in the budgeting and appropriation of marijuana tax revenues, we feel it is our duty to set the record straight so that voters in both states have accurate information about this subject,” the letter, signed by Sen. Pat Steadman, and Reps. Jonathan Singer and Millie Hamner, states.

The letter was addressed to Arizonans for Responsible Drug Policy leaders Yavapai County Attorney Sheila Polk and conservative talk radio host Seth Leibsohn in response to two ads airing in Arizona which claim that the tax revenues promised for education in Colorado “were empty words” and the funds are being diverted “to regulation and the pot industry.”

Included in the document is a breakdown of how the tax revenues from the cannabis industry have been dispersed. The authors — all three of which sit on their respective legislative Appropriations Committee — point out that more than $138.3 million was distributed to the Colorado Department of Education, while roughly $21 million combined was distributed to the Departments of Revenue, Agriculture, and Law in addition to the less than $500,000 sent to the Governor’s Office of Marijuana Coordination.

Another $114.9 million was appropriated for the Building Excellent Schools Today public school construction program, which was earmarked for $40 million of the tax revenues when voters adopted Amendment 64.

“That tax actually raised more than $40 million in the last fiscal year, resulting in $40 million for the BEST program in [fiscal year] 2016-17, plus an additional $5.7 million for Colorado’s Public School Fund,” the authors wrote.

The letter closes with the authors requesting that the campaign stop airing and publishing campaign ads that “contradict these facts.”

“We also trust they will be reflected in any of your future communications to Arizona voters regarding Colorado’s experience with regulating and taxing marijuana for adult use,” the authors conclude.

Arizona joins California, Nevada, Maine, and Massachusetts in bids to legalize the adult-use of cannabis during next week’s general election.     

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Plants growing in an indoor environment in Washington state.

Seeds and Clones Scarce for Hopeful Canadian Home Growers

11/01/2016

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Despite a Federal Court ruling in February allowing medical marijuana patients to grow their own medicine in Canada, individuals have limited access to seeds, seedlings, and clones at affordable prices, according to a Globe and Mail report. Just one licensed producer, Whistler Medical Marijuana Corp., is authorized to sell the small plants or seeds to clients and they are charging $750 for a five-plant package, only making $20 clones available after the package purchase.

Chris Pelz, Whistler president, said the package deal represents an upfront fee to access their organic cannabis strains and that the plants sent by the company could be cloned by the client who could maintain their supply indefinitely.

“These [mother plants] are held in laboratory conditions,” Pelz said in the report. “I don’t know if the clones that are being blasted out on the street are near the same quality of plant or genetics that we offer.”

Moreover, the company has no plans to sell their seeds, he explained, due to “the red tape” around acquiring them under Health Canada’s rules.

Another potential option for patients would be to allow one of the country’s licensed producers to grow their plants for them. Jordan Sinclair, a spokesman for Tweed, said the company is interested in growing plants for patients – which might be an ideal set up for some clients because it’s unknown whether or not home growing will still be permitted under the federal government’s adult-use cannabis laws expected to be unveiled in the spring.

About 28,000 people are still allowed to cultivate cannabis for themselves or other registered patients under the old medical marijuana system.       

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Third Lawsuit Filed Against Maryland MMJ Commission

11/01/2016

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A third Maryland medical marijuana company has sued the state medical cannabis commission alleging that the commission “was derelict in its legislatively mandated duty to actively seek to achieve racial, ethnic and geographical diversity when licensing medical cannabis growers,” according to Baltimore City Circuit Court filings outlined in a WBFF report. The lawsuit aims to block the final approval of medical marijuana licenses until the licensing process is reviewed.

Alternative Medicine Maryland, LLC, a minority-owned company based in Annapolis, contends that the commission “ignored race and ethnicity throughout the licensing process in clear contravention of its authorizing statute.”

The claims echo the sentiments of the state Legislative Black Caucus, who have met with the commission over the lack of minority-led businesses approved for the state’s preliminary cultivation licenses. Maryland Cultivation and Processing and GTI Maryland have also sued the commission over their denials after it was discovered that the commission bumped both companies from their high rankings for others that fit “geographic diversity” requirements in the law. According to the lawsuit, Alternative Medicine has more than $9 million in verified capitalization.

The suit by the company, which is more than 80 percent African-American owned, acknowledges the plight of their counterparts, saying the oversight body “compounded its failure by replacing top ranked applicants with lower ranked applicants in the name of geographic diversity but gave no consideration to the ethnic and racial diversity of its applicants.”

John Pica, the attorney representing Alternative Medicine, says an “easy way” to solve the problem is to add or re-score the existing licenses or increase the number of licenses allowed under the program.

“The legislature made it very clear that that commission was supposed to seek racial diversity in awarding the licenses, and they completely ignored their responsibility,” he said in the report.

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A puppy runs through tall, green grass.

CBD-Rich Products Gaining Traction as Therapy for Pets

11/01/2016

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CBD-only cannabis products for pets are currently legal in all 50 states and a growing number of advocates and individuals are seeking to spread awareness about the potential of cannabis therapies for their pet companions, according to a KPIX 5 report. The support is buoyed by a recent Journal of the American Holistic Veterinary Medical Association study, which purported cannabis as a tool to manage chronic health conditions such as anxiety, cancer, seizures, sleeplessness, arthritis, and behavior issues for pets.

The Milo Foundation, a California non-profit that rescues dogs from high-kill shelters, uses donated Treatibles, a CBD-rich pet chew, to treat animals suffering from injuries and arthritis.

“What we see happen with the dogs is amazing,” Lynne Tingle, the foundation’s founder and director, said in the report. “They go from being, you know, tongue out, stiff, painful … barely able to walk to hopping up on their favorite chair, skipping around the dog park … tails wagging.”

John Blair said he had dug a grave for Pixel, his cancer-stricken 11-year-old German Shepard, and turned to edibles to try and improve her quality of life — she was in pain and unable to eat. Two days later, “she didn’t want to just lay around and wait to die,” he said.

“Suddenly she got life back in her eyes,” Blair said. “She had a little bounce in her step she wanted to go on walks again.”

Blair now sells Treatibles at his hardware store.

Yet, despite the legal status of the CBD-only pet products, the FDA has not explicitly approved its use and neither the SPCA nor PETA support cannabis use for pets due to a lack of research.

“Yeah, there’s no evidence to back it up except the fact that here [Pixel] is … she’s not dead. And she would have been,” Blair said.            

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Cannabis plants in an indoor grow operation.

Aurora, CO Planning One-Third of Cannabis Tax Revenue for Homeless Programs

10/31/2016

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Over the next three years, homeless outreach programs in Aurora, Colorado will receive more than $3 million to provide services to the homeless community from their cut of the profits from the taxes derived from adult-use cannabis sales, according to a Vetts report. The programs will see about $1.5 million in funding by June 2017, the end of the current fiscal year.

The city gained $4.5 million via sales and excise taxes raised through legal cannabis sales and has already given funds to homeless action programs, such as the Comitis Crisis Center and Aurora Mental Health, who used the resources to purchase and van and hire two care workers, while Colfax Community Network was given $220,000 for operational costs. One Aurora Housing Association received $45,000 to pay the salary of a full-time landlord coordinator, who works with property owners to approve the housing applications of formerly homeless applicants.  

The plan was approved last May and City Councilman Bob Roth said it’s an example of how legalization can benefit a community and the influence a local government can have.

“We wanted to be able to show citizens that we are having a positive impact on the community and point to specific projects or initiatives to where that money is going to,” he said in the report.  

Colorado raised nearly $70 million through cannabis tax revenues during the last fiscal year, which ended in June.      

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Creso Pharma’s First Self-Developed Product to be Distributed in Czech Republic

10/31/2016

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Creso Pharma has struck a distribution deal with MEDI-IN s.r.o. for its hemp extract-based food supplement CBDium to be sold in more than 300 retail outlets in the Czech Republic, the company announced in a press release. The product is the first Creso-developed creation to be released to market.

Boaz Wachtel, Creso co-founder and CEO, said the deal was only possible through the company’s acquisition of Slovakia-based Hemp-Industries and he anticipates it will lead to “rapid growth” for the firm in the European market.

“This relationship brings both immediate revenue and cash flow to our newly listed company, as well as first exposure in an EU market for our products,” he said in the release.

MEDI-IN supplies medical equipment and natural medications to hospitals and pharmacies, and also distributes consumer products to sports and food stores in Slovakia and the Czech Republic. As part of the agreement, MEDI-IN will perform “extensive marketing activities” including direct retail marketing and e-commerce.

The agreement comes on the heels of Creso’s successful listing on the Australian Stock Exchange on Oct. 20, which subsequently saw the company’s shares spike more than 70 percent in its first week of trading. Last Friday, the stock closed at 29 cents, down from its 36 cent high on Oct. 24.

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Australian Doctor Group Urges for More Cannabis Research

10/31/2016

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In an official position statement, the Royal Australian College of General Practitioners says that “further research is warranted” to clarify the medical uses of cannabis but that, presently, it should only be used as a “last-resort medication.”

The statement comes the same day that the Australian government will begin accepting applications for companies to participate in the medical cannabis program.

“The evidence base for the medical use of cannabis is currently incomplete. There remains much to be learned, particularly relating to treatment efficacy and the longer term side-effects of cannabis-based drugs,” the statement reads. “Recent systematic reviews and meta-analyses indicate that there is some therapeutic potential and that further research is warranted with a call for better designed clinical trials and longer duration of follow-up.”

According to the professional organization, the grade of evidence for cannabis as a treatment for chronic pain, nausea, spasticity, mood and sleep is “very low” to “moderate” — meaning that estimates of effect are “very uncertain” or require further research to “have an impact on [their] confidence.”

The body also suggests that the nation’s medical marijuana law is “unclear,” observing that the Therapeutic Goods Administration must sign off on any product offered under the program but that the registration process “requires evidence of testing and efficacy” which is not available for natural cannabis but does exist for some synthetic pharmaceutical cannabis products. However, the statement points out that “the potential therapeutic effects of the full complement of all of the compounds in the cannabis plant have not been tested and is an area identified for future research.”

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