NEW YORK: MMJ International Holdings announced that its affiliate, MMJ Bioscience, has finalized a partnership agreement with Terra Life Science group, a private Canadian based pharmaceutical manufacturer, to produce cannabis medicines for the groups FDA approved studies.
Last weeks announcement by Attorney General Sessions on the recision of the Cole Memorandum positions MMJ International Holdings as one of the only privately help companies pursuing the legal regulatory guidelines designated by the federal government for approval of a cannabis medicine.
Tim Moynahan, MMJ BioSciences chairman stated, ”The seasoned leadership team at MMJ BioSciences understands and executes its progressive development strategy in a legal, regulatory and fiscally responsible manner. Our company’s success is the result of our focus on identifying patient medical needs and addressing these patients needs by developing FDA approved medicines from the cannabis plant.”
Tim Moynahan added, ”We are excited to be a partner with Terra Life Sciences. This agreement enables MMJ BioScience with a significant product development capability. We anticipate a number of important synergies between the two companies that will be addressing patients needs with MMJ BioScience’s U.S. Food and Drug Administration (FDA) multiple sclerosis study beginning soon.”
Dr. Bianca Weinstock-Guttman, MMJ BioScience’s principal investigator is a Professor of Neurology at the State University of New York at Buffalo who serves as Executive Director of the New York State Multiple Sclerosis Consortium. Dr. Weinstock-Guttman will oversee the FDA approved study exploring the potential therapeutic applications of cannabinoids for progressive multiple sclerosis patients.
In late 2017 MMJ BioScience had submitted an application with the United States Food and Drug Administration (FDA) for approval of a new pharmaceutical drug. As a result of FDA application and Terra Life Sciences partnership, MMJ Bioscience now will offer excellence in cannabinoid medicine manufacturing that solves dosing issues by utilizing various delivery systems such as softgel pills, liquids, topical sprays and liposomes, with capabilities for quick release, sustained release and targeted release of cannabinoid medicines. Unlike other cannabis-type medicines, MMJ BioScience’s medicine is plant derived. When approval is received from the FDA the new medicine would be on sale across America as an approved drug.
MMJ BioScience’s expected approval by the FDA for its new medicine would have a major impact on the state to state federally illegal cannabis industry. In addition to Attorney General Sessions recent recision of the Cole Memorandum the FDA had also issued several cease and desist letters to firms that are marketing unapproved cannabinoid products. Whereas non-pharmaceutical companies cannot export their products across state lines, MMJ BioScience would be able to sell its medicine in pharmacies once prescribed by physicians.