BioMedican Pitches Cannabinoid Biosynthesis Investing; Cultivated Market Sprouts More Deals
BioMedican needs support until it can begin generating revenues and conduct an IPO. Businesses already marketing cannabinoid supplements receive more funding, or in some cases are acquired, as well as expand distribution.
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“Balanced Health Botanicals is the right opportunity, at the right time, to take our next major step forward in anticipation of regulatory clarity that will propel the growth of this nascent market,” says Village Farms CEO Michael DeGiglio.
FDA's evaluation of NDI notifications for cannabinoids currently is pointless, say industry stakeholders asking for a rule exempting hemp-derived cannabinoids from the agency’s prohibition against using in dietary supplements any ingredient studied or approved for use as a drug.
Draft bill proposes rules not only on producing and marketing marijuana, but on using in supplements ingredients derived from cannabis plants classified as hemp. Some supplement industry stakeholders see draft as delivering on industry requests but others say it goes too far.