NEW YORK, NY--(Marketwired - December 04, 2014) - Timing is everything and when Plandaí Biotechnology (OTCQB: PLPL) was given the go-ahead to grow cannabis for medical research in Uruguay, little did they know then that a Presidential runoff in that country would be of great interest today. Plandaí got the green light back in September from Uruguay's Minister of Public Health to collaborate with the Group of Medicinal Chemistry from the School of Science at the University of the Republic in Montevideo.
Permission was granted to Plandaí by a government that has developed a plan to regulate the production, distribution and sale of marijuana nationwide. Uruguay's government under President Jose Mujica of the Broad Front Coalition was clearly friendly to the future of cannabis in that country, and Tabare Vazquez, also of the Broad Front Coalition, promised to continue the liberal cannabis policy.
But, in Sunday's election, a member of the opposition party promised to undo the plan. When the dust finally settled, the State-run cannabis plan survived as Vazquez, who is an oncologist, handily won the Presidency 53 percent to 40 percent.
This is, of course, good news to Plandaí's own plan which includes a collaboration that will allow Plandaí, through its wholly owned subsidiary Plandaí Biotechnology - Uruguay, SA, to grow cannabis in conjunction with the University of the Republic, for medical research, which will be conducted by students and scientists from the School of Science at the University.
Plandaí can continue with its plan to now legally grow cannabis, and not just CBD dominant strains of the plant. The company's plan then calls for clinical testing using the drug.
The first phase of the project will establish the infrastructure and protocols for growing the cannabis in a controlled environment to ensure genetic purity and chemical consistency.
Due to the ongoing controversy about the growth and availability of medicinal cannabis in many parts of the US, as well as the ability to conduct US testing on the medicinal effectiveness of cannabis, many patients who might benefit from using medicinal cannabis to treat a multitude of conditions cannot access it.
The approval for Plandaí to grow marijuana for medical research from the pro-cannabis government was issued this past September, and it is scheduled to take place over a 3-year period beginning in early 2015.
Plandaí's collaboration will allow it to test marijuana for medicinal properties, and it also affords the company the chance to provide a pure chemical extract for third party testing.
Roger Duffield, the company's CEO and President, said that the research will enable clinicians to set dosage parameters as well since, with clinical testing, Plandaí will have benchmarks for absorption and metabolization like it has established with its green tea extract.
A team of academics at the University of the Republic will collaborate with Plandaí's scientists, after the first phase is complete, to test the cannabinoid complex for potential benefit for treating neuron disorders, cancers and concussion injuries through animal testing.
When Plandaí is ready to conduct human clinical trials, the company will be required to seek prior approval from Uruguay's Ethics Committee and Medicine Council. With Vazquez winning the Presidency, this should benefit Plandaí's plan to further its own research and eventually lead to approval for human clinical trials.
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SMMG is a Research and Content Development IR firm offering a platform for corporate stories to unfold in the media with research reports, CEO interviews and feature news articles. SMMG is compensated $3,500 per month by Plandai Biotechnology for content development. Previously, SMMG was compensated for similar content by a third party which occurred from April 2013 through June 2014. During that period, SMMG received approximately $55,000 for its content. Neither SMMG nor anyone associated with it owns shares in PLPL. For more information: www.stockmarketmediagroup.com.