NEW YORK, October 5, 2017 /PRNewswire/ --
According to a report by Grand View Research, the global medical cannabis market is projected to reach a value of USD 55.8 billion by 2025. After the elections of 2016, Washington D.C. along with 28 states have legalized cannabis for medical uses. The growing number of states and countries getting approval for using it in therapeutic applications is one of the crucial factors driving the demand over the coming few years. Grand View indicates that several regulatory frameworks such as the Medical Marijuana Regulation and Safety Act will require individuals or companies associated, such as growers, retail operators, and makers of processed pot products to obtain permission and an annual state license from 2018. Cannabis Wheaton Income Corp. (OTC: KWFLF), Vitality Biopharma, Inc. (OTC: VBIO), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), 22nd Century Group Inc. (NYSE: XXII), Cara Therapeutics Inc. (NASDAQ: CARA).
In the U.S., a major obstacle for the legal cannabis industry is raising money. Because of discrepancy between some states and federal laws, banks still refuse to open checking accounts and do not lend money for cannabis businesses. An article by Forbes indicates that debt and equity financing resources for the cannabis industry are becoming more flexible. Scott Jordan who works with entrepreneurs in the industry as director of business development for Colorado-based Dynamic Alternative Finance explained, "We're seeing some lenders that are looking for higher yields and returns, venturing into this space," he said according to the article. "In terms of equity, we also are seeing some of the larger hedge funds and other family offices," getting involved in cannabis finance, Forbes reported.
Cannabis Wheaton Income Corp. (OTC: KWFLF) is also listed on the TSX Venture Exchange under the ticker symbol 'CBW'. Earlier this week the company announced breaking news that the, "launch of its inaugural C420 community event taking place on November 16, 2017 in Las Vegas, Nevada during the annual Marijuana Business Conference (MJBizCon)."
"Borrowing from and following in the footsteps of the C100 Association, a non-profit, member-driven association of Canadian thought leaders in the San Francisco Bay Area committed to supporting and accelerating the innovation economy in Canada, the purpose of C420 is to bring together exceptional Canadian entrepreneurs operating in the cannabis space to share ideas, opportunities and best practices to foster a true community approach to the industry. As Cannabis Wheaton's mission is to create growth through diversity, C420 will provide a forum for a wide variety of Canadian cannabis entrepreneurs to network and collaborate in the heart of the largest cannabis conference in North America."
Ian Rapsey, Chief Creative Officer of Cannabis Wheaton stated, "Fostering and nourishing deep collaborative relationships in the Canadian cannabis community is paramount to building a strong foundation for the industry. It is our goal that what C100 is to Canadian technology entrepreneurs, C420 will be to Canadian cannabis entrepreneurs."
Mike Lickver, Executive Vice President of Cannabis Wheaton commented, "I always look forward to producing events filled with great people sharing great ideas. Hosting the C420 in Vegas is a way for our team to capitalize on an environment that already brings so many Canadian entrepreneurs together during the pre-eminent conference of the year. We anticipate an exciting and entertaining evening shared by Canadian cannabis leaders that will become the first of many annual C420 events to come."
Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. The company recently announced the achievement of a biosynthesis breakthrough. Vitality has developed a proprietary biosynthesis technology that can modify cannabinoids in order to create pharmaceutical prodrugs that have no psychoactivity and that are able to provide targeted disease treatment. This process involves small molecule glycosylation, where sugar molecules are attached to cannabinoids, creating new compounds known as cannabinoid glycosides, or cannabosides.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Anabasum is a synthetic oral endocannabinoid-mimetic drug that preferentially binds to the CB2 receptor expressed on activated immune cells and fibroblasts. On September 20, 2017, the company announced that its abstracts have been selected for presentations at the American College of Rheumatology 2017 Annual Meeting being held November 3-8, 2017 in San Diego, California.
22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis plants. The Company's primary mission in cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. 22nd Century's wholly-owned subsidiary, Botanical Genetics, LLC, entered into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, the Company was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense continues through the life of the last to expire patent, which is expected to be 2035.
Cara Therapeutics Inc. (NASDAQ: CARA) is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies. Studies on the effects of cannabis (marijuana) have led to the recent discovery of an endogenous system of ligands in humans involved in a number of physiological processes including pain and inflammation.
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