CNAB UPDATE
DENVER, CO / ACCESSWIRE / February 25, 2015 / United Cannabis Corporation (CNAB) (the "Company" or "United Cannabis") today announced that it has entered into a Business Partnership with Cannabinoid Research & Development ("CRD") and Jamaica's Scientific Research Council, to establish a branded genetic database and conduct product analysis and preclinical studies of its entire Prana Bio Medicinal product line. The Partnership will collaborate with the University Of The West Indies, Mona ("UWI") and have access to its staff and facilities, most notably the School of Medical Sciences, Clinical Trial Centre, and eight associated hospitals.
The announcement comes on the heels of last night's news that Jamaica's House of Representatives passed an amendment to its Dangerous Drugs Act, decriminalizing small amounts of marijuana and instituting a licensing agency to establish and regulate a domestic medical marijuana industry.
The changes to the Act will facilitate ganja use for therapeutic purposes, as prescribed by a registered practitioner, or for scientific research conducted by an accredited tertiary institution or otherwise approved by the Scientific Research Council (SRC). SRC is a public sector agency tasked with fostering scientific research and promoting its application within Jamaica.
Commenting on the announcement Tony Verzura, Untied Cannabis' Chief Technical Officer, stated, "The SRC's and UWI's support of our vision for the creation of a state-of-the-art research and development facility is invaluable. With their support, we can now begin the preliminary safety and efficacy testing of our Prana Bio Medicinal Products. The data gathered will be used to further the patent filings we made this past October, as well as help us prepare the protocol documentation necessary to commence clinical trials."
Mr. Verzura continued, "I see the effect our Prana products have on patients every day, and it's not just therapeutic; it impacts their entire lives. The opportunity to verify the anecdotal evidence thru the clinical process is the moment of truth. This Partnership will enable us to provide the medical community and policymakers with clinical data to substantiate those results."
By virtue of the Partnership, United Cannabis and CRD can begin to implement their plans to standardize the cultivation of cannabis and production of medical cannabis products for research and development. One step in this process will be the creation of a "Ganja Cooperative," which will provide local farmers with access to established genetics as well as training in proven cultivation methodologies, in order to generate standardized crops with optimum yields. Uniform plant production is the precursor to further production, processing and testing.
John Sayers, Jamaican-based Director of CRD, went on to say "This is a very strong partnership. SRC and UWI are on the frontlines of Jamaica's impending cannabis industry, and our relationship with them gives us the ability to begin channeling the resources we need to begin this project while the infrastructure provided for in the amendment goes into effect. This is an exciting time for the cannabis industry, and I look forward to working with this team to help establish Jamaica as a frontrunner in the innovation of cannabinoid science.
Marcus Richardson, Chief Technology Officer of CRD "The passing of this amendment makes clear that the Jamaican government recognizes the potential impact of cannabis, as a medicinal herb for the world, and an industrial product that just might be the healing of the nation. This Partnership is a first step towards scientifically exploring pure plant profiles, i.e phytocannabinoids, as medicine, and I expect the results will be significant."
