MMJ International Holdings Pursuing Legal FDA Cannabis Medicine Approval

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.

Justice Department Issues Memo On Marijuana Enforcement

DISTRICT OF COLUMBIA:  The Department of Justice today issued a memo on federal marijuana enforcement policy announcing a return to the rule of law and the rescission of previous guidance documents. Since the passage of the Controlled Substances Act (CSA) in 1970, Congress has generally prohibited the cultivation, distribution, and possession of marijuana.

In the memorandum, Attorney General Jeff Sessions directs all U.S. Attorneys to enforce the laws enacted by Congress and to follow well-established principles when pursuing prosecutions related to marijuana activities. This return to the rule of law is also a return of trust and local control to federal prosecutors who know where and how to deploy Justice Department resources most effectively to reduce violent crime, stem the tide of the drug crisis, and dismantle criminal gangs.

“It is the mission of the Department of Justice to enforce the laws of the United States, and the previous issuance of guidance undermines the rule of law and the ability of our local, state, tribal, and federal law enforcement partners to carry out this mission,” said Attorney General Jeff Sessions. “Therefore, today’s memo on federal marijuana enforcement simply directs all U.S. Attorneys to use previously established prosecutorial principles that provide them all the necessary tools to disrupt criminal organizations, tackle the growing drug crisis, and thwart violent crime across our country.”

 

Open Letter To Attorney General Jeff Sessions

Editorial by David Rheins, Founder/Executive Director of the Marijuana Business Association (MJBA) and publisher of the MJ News Network.

 

Dear Attorney General Sessions:

Speaking on behalf of the tens of thousands of legal cannabis businesses, and the more than 150,000 workers employed in the legal cannabis industry, we ask you to rethink your decision to rescind the Cole Memorandum.  Cannabis Prohibition has been a costly-disaster — for the country at large, and to millions of Americans who have been arrested, imprisoned, lost jobs and scholarships, all for the use or possession of small amounts of a plant.  We ask that you end this failed policy, and join the majority of Americans on both sides of the political spectrum who recognize is time to move beyond the failed policies of America’s War on Drugs.

In the five years since the voters of Colorado and Washington voted in adult-use cannabis, we have witnessed the birth of a responsible, professional industry that serves millions of adult customers in a safe and compliant manner.  Working effectively with state regulators, the legal cannabis industry is growing responsibly, and building the foundations of a scaleable, profitable industry — one that is already generating hundreds of millions in new state tax revenues, creating jobs and economic vitality in once-depressed communities.

The legal cannabis industry is led by socially-responsible business leaders who share your concern about the opioid crisis.  Under legalization, cannabis products are carefully inspected, tested, packaged and sold under strict State supervision.   Licensed retail establishments are required to maintain rigorous security and compliance technology, and customers are carded, oftentimes twice, to ensure no illegal sales to minors happens.

Our legal industry — which represents the fastest growing segment of our economy — operates at a severe disadvantages.  As a result of being considered a Schedule 1 drug, legal state businesses are unable to secure loans or commercial credit, are banned from working with many banks, and pay penalizing fees, surcharges and taxes.

In the past five years, the legal cannabis industry has been encouraged by the support of enlightened politicians from both parties who seek to move beyond prohibition. We thank folks like Congressman Earl Blumenauer, Congressman Dana Rohrabacher and members of the Congressional Cannabis Caucus, along with Senator Cory Booker, Senator Rand Paul and backers of the CARERS Act for their fine work.  It is a start, but there is much work to be done to unravel the hairball of failed policy that 80 years of prohibition has woven.  

Attorney General Sessions, please rethink your decision and join us — we seek a partner in the Federal Government, not an adversary — as together we work to redefine a post-prohibition America.

 

Respectfully submitted,

 

David Rheins