LAS VEGAS—GB Sciences, Inc. announced today the launch of a global expansion strategy with the formation of GBS Global Biopharma Inc., a cannabinoid medicine company based in Canada. GBS Global will expedite the development of clinical programs and IP currently indicated for 60 disease and health conditions.
GBS Global is a company dedicated to developing cannabinoid medicines for medical cannabis, nutraceutical and prescription drug markets. The Canadian entity will operate in a fully legal, open business environment. This will allow for greater international collaboration, cross border expansion, access to capital and cost-effective R&D supported by the country’s legal market, tax credits and favorable exchange rates.
“Canada's policies will allow GBS Global to bring our next-generation cannabinoid medications to market quickly, safely and legally. Canada’s regulations, in particular, mean treatments can be evaluated and approved in less time than it would take in the U.S.,” said John Poss, GBS Global board chair and CEO of GB Sciences. “This creates vital new opportunities for GBS Global, benefitting both our patients and investors.”
The GBS Global proprietary discovery platform generates “complex mixture” cannabinoid/terpenoid active ingredients (APIs) for specific disease and health conditions. GBS Global researchers are working with scientists in the United States, Spain and Greece on nutraceuticals, delivery technology and prescription drug programs.
GBS Global’s intellectual property portfolio of natural and synthetic cannabinoid-based complex mixtures are indicated for Parkinson’s disease, neuropathic pain and cardiac hypertrophy Rx programs in the late preclinical stage of development. OTC programs for irritable bowel syndrome, sleep disorders and psoriasis are at formulation stage in step with ongoing discussions with strategic partners in the field.
“Developing our life sciences assets in Canada will expedite work to validate the safety and effectiveness of our proprietary therapeutics through expanded access to research partners and capital,” said Dr. Andrea Small-Howard, chief science officer and board member of GBS Global. “In addition, Canada’s medical cannabis legislation provides an alternative channel for supporting health claims on some of our OTC patent-pending formulas. Plus, these products can be exported to Europe, the world’s fastest growing market.”
GB Sciences also recently voiced support of the Louisiana State University Agricultural Center (LSU AgCenter), which is dealing with allegations made by the Commissioner of the Louisiana Department of Agriculture and Forestry (LDAF) that LSU AgCenter and its partner, GB Sciences Louisiana, are in violation of Louisiana’s medical marijuana law.
According to a press release, the LSU AgCenter received written approval on February 28th from the Director of LDAF’s Medical Marijuana Program to move into two rooms within the new main production facility. LDAF attorney Tabitha Irvin wrote to the LSU AgCenter: “After careful consideration and in an effort to get the product to the pharmacies for the citizens of Louisiana, the commissioner of agriculture and forestry has decided to grant LSU AgCenter the authority to move plant material into the requested rooms (Mother room and Vegetative room) in the main facility.”
Relying on this written approval from the LDAF, the LSU AgCenter moved plant material into the two specific rooms on Friday, March 1. The following Monday, a LDAF inspector issued a deficiency notice to the LSU AgCenter for doing what Commissioner Strain expressly approved the week before. Then Commissioner Strain made reckless and unsupported public accusations against the LSU AgCenter and GB Sciences Louisiana, and threatened litigation.
LSU AgCenter notes, “The allegations made by Commissioner Strain are simply untrue. The LSU AgCenter and GB Sciences Louisiana have provided all information requested by the LDAF regarding suitability and operations. Further, the LSU AgCenter and GB Sciences Louisiana have passed all inspections, benchmarks, and tests administered by the LDAF – all of which is fully supported by public documentation. The LSU AgCenter calls on Commissioner Mike Strain to immediately allow this program to proceed, so that the patients of Louisiana can receive the medicine to which they are legally entitled.”