• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Johnson & Johnson Incubator Accepts First Cannabis Company

May 26, 2017

 (Image via Flickr)

 

TORONTO, May 26, 2017 /PRNewswire/ - Avicanna Inc., a biotechnology company focused on innovative approaches and technologies in the medical cannabis sector, has recently completed its first round of financing of C$1.6 million. Avicanna has also been accepted into Johnson & Johnson Innovation, JLABS @ Toronto, located in the MaRS Discovery District building, a centre of innovation in Toronto, Canada.

 

Avicanna is recognized as the first and currently the only cannabinoid related company to be accepted into JLABS @ Toronto. Avicanna will carry out its operations at JLABS @ Toronto – a 40,000 square-foot innovation centre. The infrastructure, which includes wet labs and office spaces, provides a flexible environment for start-up companies pursuing new technologies and platforms to advance life sciences projects. Through a "no strings attached" model, Johnson & Johnson Innovation does not take an equity stake in the companies occupying JLABS and the companies are free to develop products - either on their own, or by initiating a separate external partnership with Johnson & Johnson Innovation or any other company. The strategic location of MaRS also allows for significant opportunity to network with some of the top medical institutions and clinicians in Canada in addition to proximity to many of Avicanna's scientific advisory board members who are affiliated with the University of Toronto and University Health Network (UHN). This development is clearly more early evidence of the reduction of stigma and the emergence of interest from biopharmaceutical companies in the medical cannabis industry.

 

"We are honored to be the first cannabinoid related company to have been accepted into JLABS @ Toronto; we strive to be the catalyst in the advancement of medical cannabis and its acceptance within the biotech and pharmaceutical sectors," commented Aras Azadian, Avicanna's CEO.

 

The recently completed financing of $1.6 million was Avicanna's first "seed financing" and will allow the company to execute on its business plan including the clinical development of Avicanna's primary product line "PURA Elements". The PURA Elements product line consists of several advanced cannabinoid delivery mechanisms including THC- and CBD-based transdermal patches.

 

"We seek to clinically demonstrate the safety and efficacy of our unique cannabinoid delivery products over the next six months. Furthermore, we will develop novel products with advanced physical and performance properties to improve their medical benefit to patients around the world", commented Dr. Justin Grant, Avicanna's Scientific Advisor.

 

 About Avicanna Inc. 


Avicanna Inc. is a biotechnology company focused on innovative and technological advancements in the medical cannabis industry. Based in Toronto, Avicanna leverages its executive management and scientific team's extensive biotechnology experience to develop and execute its multilevel and multi-market strategic approach towards medical cannabis. The current leading product line includes the PURA Elements brand of all natural composition with advanced delivery mechanisms, including transdermal patches.

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.