PROVIDENCE, RI / ACCESSWIRE / December 19, 2022 / MMJ BioPharma Labs, MMJ BioPharma Cultivation, and MMJ International Holdings, is in negotiations with a publicly traded international pharmaceutical company to collaborate on execution of its planed cannabis clinical trials and drug development. Recently President Biden signed into law the Marijuana Research and Expansion Act which will expedite schedule 1 researchers applications for DEA approval to research and development of eventual FDA approved drugs. These DEA approved physicians and researchers will significantly expand the customer base of the MMJ companies because they will need consistent reproducibly cannabis drugs.
MMJ triad of companies, the leader in he field of federally legal research, pharmaceutical drug development, and cultivation of high quality marijuana is on the brink of creating a revolutionary product to help treat Huntington’s disease and Multiple Sclerosis.
With MMJ’s DEA approval imminent to grow Pharma quality cannabis the market is on the verge of a radical transformation. As anecdotal evidence mounts as to the many benefits of cannabis it has drawn the attention of Big Pharma. Evidenced by the two recent acquisitions by Pfizer of Arena Pharmaceutical for $6.7 billion and Jazz Pharmaceuticals acquisition of GW for $7.2 billion.
These DEA approved physicians and researchers will significantly expand the customer base of the MMJ companies because they will need consistent reproducibly cannabis drugs.
For the most part Big Pharma has watched from the sidelines deterred by regulatory concerns which MMJ has successfully navigated. Now Big Pharma is intensifying its interest to partner with MMJ to see that the FDA approved clinical trials and drug development come to successful fruition.
Duane Boise, President of MMJ stated ‘ the company has successfully reached many milestones to become attractive to an international publicly traded pharmaceutical company. We are registered with the state pharmaceutical board, received zoning approval to grow Pharma grade marijuana, have been awarded FDA orphan status, and received the much coveted DEA schedule 1 cannabis analytical lab registration.
Furthermore, MMJ has completed manufacturing of its THC, CBD capsule medicine formulated on compounds found in the cannabis plant. The company will investigate its novel pharmaceutical in FDA approved clinical trials to prove safety, efficacy and provide relief for multiple sclerosis (MS) and Huntington’s disease (HD) patients symptoms.
Once FDA approved for use in clinical trials MMJ will be the only company with a THC and CBD pill that will be thoroughly evaluated in clinical trials. It also means that this plant-based, never synthetic, highly purified form of THC and CBD is manufactured to meet the high standards of the FDA’s current Good Manufacturing Practices guidelines.
‘MMJ has compiled significant data to back up our drug development process. We feel confident that the FDA will review our data and approve MMJ to proceed with its clinical trials. MMJ International Holdings has worked diligently to develop all the data that the FDA has mandated for approval ‘ Elio Mariani, PhD, MMJ’s CEO stated.
MMJ is always looking at the big picture and the larger positive impact we can have on society through our technologies,’ said Tim Moynahan the companies chairman. ‘Using our sophisticated growing technology and integrated software, MMJ BioPharma will have unprecedented control over the cultivation process coupled with the most advanced precise data analytics. I am proud to be chairman and support such forward-thinking to aid discoveries and treatments through our technologies.’