In 1996, California became the first state in the country to legalize the use of medical cannabis when it enacted Proposition 215. Less than two decades later, a total of 23 states, as well as the District of Columbia, have legalized marijuana for medicinal purposes, and that progress has come without a single clinical trial taking place. To this point, the medicinal cannabis market has existed without facing many of the regulatory hurdles present in the pharmaceutical industry, but that could be changing soon. With the movement to reclassify cannabis as a schedule II drug at the federal level rapidly gaining steam, the current landscape of the medical cannabis industry could be closing in on a period of transformation.
As a schedule II drug, cannabis could be recognized as a therapeutic treatment with an accepted medical use in the United States, which would dramatically increase the marketability of cannabis-based pharmaceuticals. This shift in perception would likely entice major pharmaceutical players to begin studying the medicinal benefits of marijuana. GrowBLOX Sciences, Inc. (OTCQB: GBLX), through the development and commercialization of its proprietary GrowBLOX technology suite, is prepared to capitalize on this market evolution by providing an unrivalled approach to consistent cannabis production.
The GrowBLOX technology suite was specially engineered to safely and reliably deliver consistent cannabis products by preserving and replicating carefully chosen genetic stock and precisely controlling the growing process. By monitoring everything from lighting conditions and temperature to oxygen and carbon dioxide levels, the company’s innovative products allow for the elimination of many limiting variables in order to maximize the accuracy and consistency of both clinical testing and full-scale production efforts.
In an interview with TNMNews, César Cordero Krüger, chief executive officer of GB Sciences Puerto Rico, provided investors with a detailed look at the vast market potential for GrowBLOX’s groundbreaking cultivation suite as the medical cannabis industry continues to mature. According to Krüger, the epicenter of future medical marijuana production isn’t located in the continental United States, but in the U.S. territory of Puerto Rico.
Puerto Rico’s history as a medical marijuana hub is just beginning. In 2014, Governor Alejandro Garcia Padilla signed an executive order authorizing the manufacturing of medical marijuana across the island. Although details are still under wraps, Krüger highlighted the possibility that the government’s future plans could involve the University of Puerto Rico, giving the local industry access to the university’s molecular science building, cancer research facilities and independent laboratory testing.
With one of the densest concentrations of pharmaceutical industries in the world, Puerto Rico appears to have a major role to play in the future of the medical cannabis industry. Likewise, look for GrowBLOX and its subsidiaries to make waves with the continued development and commercialization of the GrowBLOX technology suite.
For more information, visit www.growblox.com
To listen to the full conversation with César Cordero Krüger, visit www.tnmnews.com
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