There is a huge demand for research and development in the medical cannabis space, mostly due to the fact that the US keeps it as a Schedule I substance and limits research in any ways it can. Money isn’t being spent in huge amounts by pharmaceutical companies on medical cannabis research either, mostly due to the federal cannabis policy and potential challenges with protecting intellectual property. Without federal grants and pharmaceutical R&D funds, cannabis medicine research is out of reach to most companies.
Medellin, Colombia based FCM Global has announced the opening of a new R&D Lab to meet some of this demand by providing cost-effective research and development services.
FCM Global has been providing customized CBD extracts, oils, and isolates to pharmaceutical, nutritional, and cosmetic companies in legal markets worldwide and has a distribution office in Toronto, Canada.
FCM has teamed up with CIENSA, a health service provider in Medellin, that has treated over 15,000 patients and has experience in mitochondria and plant-based medicines.
“By enhancing our platform with R&D capabilities and the CIENSA alliance, FCM is now well-positioned to implement clinical studies, in collaboration with our client-partners, to target specific medical conditions and demonstrate the efficacy of new medical cannabis products through research testing in animal models, cellular lines, and human trials. Colombia’s favorable regulatory framework, widespread acceptance, and thriving research community make it an ideal environment for medical cannabis.” – Dr Juan Carlos Restrepo, the Chief Science Officer at FCM Global was quoted in the FMC press release.
The R&D lab will also enable FCM to offer advisory services to medical cannabis product manufacturers around the world, to help them with product development and efficiency.
Israel has been providing such services to the world, however, obviously the cost in Israel is significantly higher than in Colombia and the lack of competition has also been a factor.
The Israeli endoCRO has been the go-to option for companies around the world. For example, Australian Stock Exchange-listed Medical Cannabis Limited has contracted endoCRO to develop a medical cannabis product for them for the Australian market.
Now, these opportunities will be open to FCM Global as well, and as South America is quickly moving forward to lead the world with cannabis reform, South American businesses are well positioned to take full advantage of such opportunity.
The little South American country of Uruguay made history earlier in the year when it opened the first federal legal adult use cannabis market in the world.
Uruguay might be small, however, every other South American country made a note as well as the rest of the world.
The organisers of the 19th Argentine Global Marijuana March earlier this year reported crowds of 150,000 people in Buenos Aires alone, giving a very clear sign to lawmakers that Argentinians also want the change in cannabis policy that Uruguayans now enjoy.
This is a good news for South American cannabis and hopefully, the trend will continue and cannabis will bring prosperity to the entire continent.