Earth Life Sciences (ELS), a venture capital and management firm based in Quebec, announnced that it is partnering with a cannabis oil-based nutraceutical company, with an agreement in place to acquire that company and establish a new division. The resulting entity will be an organic medical marijuana oils (CBD) producer that will develop products for
Earth Life Sciences (ELS), a venture capital and management firm based in Quebec, announnced that it is partnering with a cannabis oil-based nutraceutical company, with an agreement in place to acquire that company and establish a new division. The resulting entity will be an organic medical marijuana oils (CBD) producer that will develop products for patients who wish to use cannibis to manage chronic pain in a variety of diseases, including multiple sclerosis.
ELS notes in a press release that research suggests cannabis can help manage chronic pain, especially the nerve-related pain that often plagues persons with MS and other neurological disorders, and that cannabis oil has therapeutic properties not replicated by other available medications.
With cannabis extracts being produced and consumed in all 50 U.S. states, the company projects, citing unspecified industry reports, that the market for legal marijuana in the U.S. and the Canadian medical marijuana market will grow to $7.1 billion and $4.1 billion, respectively, in 2016.
