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New York Economic Development Fund Invests in MMJ Research

The Buffalo Institute for Genomics and Data Analytics (BIG), a University of Buffalo program, has partnered with MMJ International Holdings to research medical cannabis as part of the state’s Buffalo Billion investment program.

The partnership will see an $800,000 investment from the state for the program, which will conduct studies on the science of medical cannabis through patient clinical research and the operation of medical cannabis healthcare businesses.

Tom Ryan, MMJ International chief operating officer, said the partnership will “create jobs, generate economic opportunity, and strengthen the region’s role as a leader in the future development of cannabis medicine.”

“MMJ International Holdings is working to attract the talent necessary for its medical cannabis research businesses to continue to bolster the economic growth in upstate and Western New York,” he said in a press release. “This partnership is a great economic stimulant for Buffalo and MMJ International Holdings. This team will place Western New York in the forefront of medical cannabis research internationally.”

Circuit Clinical, another University of Buffalo company, will assist MMJ International with bringing new patients and physicians into medical cannabis clinical trials.

“Our goal is to develop scientifically validated cannabis medicines and to facilitate their transition from the laboratory to the market at lower costs,” MMJ International Chairman Timothy Moynahan said. “While the partnership is a business enterprise there is no doubt it has altruistic dimensions; to provide safe and efficacious cannabis medicines, that alleviate pain, replace opioids, and diminish or eliminate disease.”

The partnership could lead to the creation of more than 100 jobs over the next five years.


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