Local medical marijuana co. commits $20 million for cannabis research
Cannamed Pharmaceuticals based in Wicomico County describes their mission as “being a model cultivation resource for Maryland’s licensed processors and dispensaries” for medical marijuana.
The company has committed $20 million from their net revenue, to go towards what they call advancing the scientific understanding of cannabinoids. Officials tell 47ABC there is a caveat with the agreement, the money will go to Johns Hopkins University School of Medicine and the Institute for Research on Cannabinoids to advance cannabis. However the money will go with the contingent that the company receives pre-approval of a license from the state.
The funding will reportedly spread out over 10 years, with an option for the agreement to be renewed halfway through the 10 years.