PALM BEACH, Florida, June 22, 2017 /PRNewswire/ --
Latest research and development in the medicinal cannabis market is helping industry leaders identify breakthroughs and significant discoveries for developing new patents and therapies for various applications targeting diseases including forms of cancer and rare conditions. Cannabis companies in the markets this week with developments include: Puration, Inc. (OTC: PURA), GW Pharmaceuticals plc (NASDAQ: GWPH), CV Sciences Inc. (OTC: CVSI), 22nd Century Group Inc. (NASDAQ: XXII) and PotNetwork Holding Inc. (OTC: POTN)
Puration, Inc. (OTC: PURA) today announced the Company has entered into a letter of intent agreement to acquire First Choice Nursery which has an existing twenty-five greenhouse facility. The company has the opportunity to expand to an additional 400 irrigated greenhouse pads ready for buildout. Puration has a U.S. Patented Cannabis Extraction process licensed from NCM Biotech. The license of the process to Puration is the first and only license NCM Biotech has executed. R&D with NCM Biotech's patented process has demonstrated a high potential for bringing FDA approved pharmaceutical products to market for the treatment of multiple neurological disorders and cancer. NCM Biotech's medical advisory team includes John N. Gaitanis, MD., Director of Child Neurology at Tufts Medical Center/Floating Hospital for Children; Lloyd R. Saberski, M.D., Associate Professor of Anesthesiology and Chronic Pain Management, Yale University and John McMichael, Ph.D., President and CEO Beech Tree Labs.
Puration's NCM Biotech Extractions Compared to GW Pharmaceutical (GWPH) - "I have received doctor feedback from more than one of our research initiatives that extracts coming from NCM Biotech's patented process are superior in purity and quality to any other available cannabis extracts," said Frederick Ferri, CEO and Founder of NCM Biotech. "Some feedback has specifically indicated that a number of our candidate pharmaceutical products under development have a greater efficacy potential than GW Pharmaceutical products and candidate products." Read this and more news for Puration at http://www.marketnewsupdates.com/news/pura.html.
$1 Million Annual Revenue Operation With Initial Expansion Target to $16 Million - The pending acquisition of First Choice Nursery is taking over what was a family owned nursery operation. The projected $1 million in annual revenue from the operation of 25 greenhouses will come primarily from the sale of traditional greenhouse-grown flowers for use in residential landscaping. The original nursery operation had a long history that includes contracts with Lowes and Home Depot. Puration and NCM Biotech plan to expand existing University Research relationships to include a portion of the greenhouse facility being utilized to develop a proprietary strain of CBD. Puration will use proceeds from the balance of the traditional nursery operation to expand the operation into its full 400 greenhouse potential.
In other industry developments and market activity:
GW Pharmaceuticals plc (NASDAQ: GWPH) closed up at $104.72 on Wednesday with over 300,000 shares traded by the market close. GW Pharmaceuticals announced back in May that that The New England Journal of Medicine has published results from a Phase 3 study of Epidiolex® (cannabidiol) in children with Dravet syndrome. Epidiolex, GW's lead product candidate and the potential first in a new category of anti-epileptic drugs, is a liquid formulation of purified, plant-derived cannabidiol (CBD), a non-psychoactive cannabinoid, which is being studied for the treatment of a number of rare, severe pediatric-onset epilepsy disorders. In the study, Epidiolex significantly reduced monthly convulsive seizure frequency compared to placebo in highly treatment-resistant children when added to existing treatment. Treatment with Epidiolex was generally well tolerated, with a safety profile consistent with prior open label experience.
CV Sciences Inc. (OTCQB: CVSI) finished Wednesday up slightly at $0.241 by the market close. The company recently announced that it held its pre-IND meeting with the U.S. Food and Drug Administration (FDA) on June 15, 2017, to review its drug development plan for CVSI-007, the Company's patent-pending product for smokeless tobacco addiction therapy consisting of nicotine-polacrilex chewing gum in combination with synthetic cannabidiol (CBD). CV Sciences President and CEO Michael J. Mona, Jr. commented, "Our pre-IND meeting with the FDA was very constructive and provided the Company with a favorable development roadmap for this important combination drug candidate."
22nd Century Group Inc. (NYSE: XXII) closed up slightly on Wednesday at $1.81 trading over 700,000 shares by the market close. The company recently announced that, together with The University of Virginia (UVA), it has launched a project aimed at utilizing novel varieties of industrial hemp to clean up and reclaim abandoned mine lands and other polluted areas. These polluted lands will be returned to productive use and cultivation through a cost-effective, plant-based process known as 'phytoremediation.' 22nd Century has developed proprietary hemp plants that are particularly well-suited for use in phytoremediation.
PotNetwork Holding Inc. (OTC: POTN) recently announced that its wholly-owned subsidiary, Diamond CBD, Inc., after reporting a string of record breaking monthly revenues, reports once again that it has surpassed projections yet again as the result of heightening demand for its products. "To the surprise of many, our momentum has not plateaued. Our continued upward trend in sales is the result of an offering of an outstanding range of excellent products supported by a determined, tireless and goal-oriented team. As we conclude a succession of very successful trade show events, we continue to be exceedingly pleased with the results." Read the full release here: https://finance.yahoo.com/news/1-098-448-00-may-154200247.html
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