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Medical cannabis biotechs join forces


THE re-branded MMJ PhytoTech will control the complete supply chain from cultivation to distribution after Phytotech raised $4.8 million to buy MMJ Bioscience.

MMJ PhytoTech chief executive Andreas Gedeon said the merger made the company one of the only serious players in the medical cannabis market.

"If you don't own the supply chain the company can't exist because you can't buy the cannabinoil compounds, it has to be sourced from plants," he said.

The company will cultivate cannabis plants at its Canadian subsidiary, United Greeneries, with the aim of exporting extracted compounds to MMJ PhytoTech's Swiss operation where it will be sold in pill form.

PhytoTech is one of the only producers of organically derived active pharmaceutical ingredients (APIs), such as cannabidiol (CBD), that makes medical marijuana products affective, Mr Gedeon said.

"Laws created internationally around the 1950's banned different things," he said.

"Almost by mistake some classified and regulated cannabis the plant but others only disallowed THC - the psychoactive ingredient that makes you high.

"Cannabidiol has the THC extracted, freeing it from some regulatory restric