COLORADO SPRINGS, CO -- (Marketwired) -- 05/04/16 -- Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, is pleased to publicly applaud the Drug Enforcement Agency (DEA) for their latest decision to green light clinical trials on the effectiveness of smoked marijuana as a treatment option for post-traumatic stress disorder, proposed Harborside resolution, and the re-scheduling for mass access to expanded treatments. These recent moves by the DEA seem to be signaling the signs of changing times, the right Industry at the right time.
Cannabis Science believes this is it and the Company is very well positioned to move into mass expansion mode as new projects and current drug development initiatives get underway and move forward with exponential growth and sharply increased value.
Fortune Story on MAPS PTSD Study approved by the DEA:
The DEA green-lit a clinical trial of smoked marijuana for the treatment of post-traumatic stress disorder (PTSD) in American military veterans, a spokesperson for the government agency confirmed to Fortune. While other trials have studied the medical benefits of marijuana and cannabis extracts like cannabidiol, this is the first time regulators have allowed testing of the marijuana plant itself for the purpose of developing it into a legal medical drug.
The Multidisciplinary Association for Psychedelic Studies (MAPS), an organization researching legal uses for marijuana and other mind-altering drugs, is conducting the trial, which is funded by a $2.2 million grant from Colorado's state health department. MAPS had worked for more than five years to obtain clearance from regulators to use pot in the trial; while it received the OK from the U.S. Food and Drug Administration in 2011 and from the U.S. Public Health Service in 2014, it still had to wait for the DEA's approval in order to proceed.
Harborside story from the SFGATE:
In a milestone victory for the cannabis industry, the federal government agreed to drop its four-year bid to shut down Oakland's Harborside Health Center, the biggest medical marijuana dispensary in the country with more than 100,000 patients, city leaders said Tuesday.
The Department of Justice did not immediately comment on the deal, which Harborside said still needed to be finalized, with all of the parties in the legal fight signing off.
But Oakland officials joined the pot dispensary in an exultant news conference at City Hall, heralding a move they saw as symbolic of a federal withdrawal in the battle against an industry that is steadily marching toward acceptance -- and is viewed in Oakland not as a scourge but an economic engine.
"We celebrate the release from federal prosecution," said Mayor Libby Schaaf. "We believe in compassion, we believe in health."
The DEA has recently become more open to the benefits and plausibility of medical marijuana as a treatment option. In addition to green lighting this new trial, Harborside resolution, and of course with the agency recently announcing their intention to review the scheduling of marijuana as a drug within the first half of 2016. This is a great sign of progress for the agency.
"Can this be it? Will we see it sooner than later? We are so excited to be part of this industry as the federal government is starting to review antiquated policies, which have long acted as roadblocks to people seeking natural treatment options and Companies moving forward with viable treatment options for the people. I believe this is it. We are ready with all our formulations in place and new complex underway; we are certainly ready to rise to the occasion!" said Cannabis Science, Inc. CEO Raymond C. Dabney.
As federal and state policies loosen, companies like Cannabis Science will be able to perform studies, conduct trials, and roll out products much faster and more affordably. This progress is critical for companies to continue bringing more effective and affordable, natural treatments to patients across the country.
About Cannabis Science, Inc.
Cannabis Science, Inc., takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. Our initial focus is on skin cancers, HIV/AIDS, and neurological conditions. The Company is proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing words such as "anticipate," "seek," intend," "believe," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc., does not undertake any duty nor does it intend to update the results of these forward-looking statements. Safe Harbor Statement. The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward looking statements. Certain of the statements contained herein, which are not historical facts are forward looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company are detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Cannabis Science, Inc.
Cannabis Science, Inc.
Mr. Raymond C. Dabney
Director, President & CEO, Co-Founder
Cannabis Science, Inc.
Mr. Robert Kane
Director & CFO