Minister of Industry, Investment and Commerce, Mr. Anthony Hylton was the official guest speaker at the company launch.
Professor Lowe pointed out that Jamaica was the first country in the world to develop a commercial product from ganja, Canasol used to treat glaucoma, and that it would be unfortunate if we lost out to a booming multi-billion dollar industry in Europe, Canada and the United States. He noted that Canada's hemp industry is valued at over US$2billion yearly.
MediCanja will undertake pioneering research and product development using the medicinal compounds called the CBDs (the non-psychoactive compounds) in ganja. It is also intended to:
1. Carry out research to develop strains of Ganja with more CBDs and less THCs (THCs are the compounds in Ganja that gives it its psychoactive effect or "high"
2. Develop unique and high quality nutraceuticals and cosmeceuticals from Ganja to manage certain illnesses as well as for cosmetic purposes
3. Develop a local hemp industry, which will cultivate hemp to be used as a rich source of the bioactive CBDs; as well as for other industrial products using its fibres for clothing, bags etc.
4. Synthesize Ganja related compounds for medicinal purposes
5. Subsequently develop pharmaceuticals from Ganja for various illnesses
6. Promote collaboration among scientists, doctors and policymakers in advancing the local medical marijuana industry
7. Contribute to the development of Jamaica by producing local products from Ganja for the local as well as the international markets.
The establishment of MediCanja and its mission is strengthened by empirical data from an islandwide study named the Knowledge Attitudes and Practice (KAP) Survey on the uses of ganja and other herbs locally. The KAP Survey was commissioned by Bio-Tech and Pelican Publishers and carried out by Don Anderson's Market Research Services Limited. The top findings from the survey showed that majority (86%) of persons interviewed stated that Government should support the use of ganja for medicinal purposes. The company is therefore strategically positioned to take advantage of the medicinal potential of Ganja. An enabling environment with significant Government support will be extremely beneficial for the success of the company.
Professor Lowe noted that Medical ganja is known to treat a variety of illnesses including insomnia, anxiety, vomiting and nausea, pain and certain types of cancer. He noted that given Jamaica's history with ganja, we could be the hub for medical ganja in Latin America and the Caribbean.
Medical ganja Professor Lowe noted "could have a multiplier effect by catalyzing other industries such as health and wellness tourism, nutraceutical and cosmeceutical industries, agriculture and even the pharmaceutical industry and ultimately transform Jamaica's fledgling economy."
For more information contact:
Professor Henry Lowe
Biotech R&D Limited
39 Lady Musgrave Road
Tel: (876) 927-3040
Sent from my BlackBerry® device from Digicel