MIT and Harvard will share what is considered the largest private gift to support marijuana research in United States history. The goal of the research will to be fill the large gaps in understanding the effects of marijuana on the brain and behaviour.
The investor C. Broderick announced the grant through the Broderick Fund for Phytocannabinoid Research. “The lack of basic science research enables people to make claims in a vacuum that are either anecdotal or based on old science,” said the donor, Charles R. “Bob” Broderick, an alumnus of both universities. “For generations we haven’t been able to study this thing for various sorts of societal reasons. That should end now, as well as the prohibitions that are falling around the world.”
As marijuana is still considered a dangerous drug under federal law it is difficult to receive funding for research. Up until now marijuana high quality marijuana studies with comprehensive, unbiased results, are not easy to come across as what is used for research can vary in strength as well as the product itself. Even Harvard originally was sceptical about the idea in receiving funding for marijuana research.
Many different studies will be conducted and will involve more than 30 scientists at Harvard as well as at MIT. The studies will be completely neutral and will be published by the universities regardless of the outcome of the research.
Receiving such a big investment from the cannabis industry and established universities accepting the gift shows the true interest from all parties in the development of research into cannabis so that we can all have a better understanding of how consumption of the drug can affect us.
In what is a very big deal for all cannabis related companies not only across the US but also the world Curaleaf Holdings will buy privately held Cura partners. Together, the two companies brought in $205 million in revenue in 2018, $85 million more than giants like Canopy that brought in less than $120 million last year. Cura’s select products are very successful across 900 retailers in California’s massive market, as well as in Nevada and Oregon. Massachusetts-based Curaleaf is a vertically integrated operator in nine states, with 44 dispensaries operating today and plans to grow that number to 70 stores by then end of 2019.
The combination of one of the most popular cannabis brands with a growing retailer makes for an important presence on the marijuana market. The acquisition will be fully through stock and is valued at US$949 million
could be followed by up to US$200 million in earn-outs, contingent on revenue targets for the year 2020.
Needless to say this huge acquisition shows how strong cannabis companies are becoming and how big this market is.
The city council approved a bill allowing for “social use venues in downtown areas of Las Vegas. Marijuana has been legal since July 2017 for recreational use but tourist have a hard time finding somewhere to consume as it is illegal to consume it in public, in casinos or in hotel rooms. Thus, a solution was needed so that tourists could enjoy not only the casinos but also the booming cannabis industry. Certain restrictions apply to as where these lounges can be as they are not allowed along the strip, casinos, schools and churches and the sale of alcohol inside is not permitted. However, dispensaries with the space or real estate would be able to open them up next-door to their stores. It will take months for permits to be approved. Once opened Las Vegas will join a group involving San Francisco, Denver and places in Alaska to offer these types of lounges.
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