Cannabis Business By The Numbers: 6.5 Percent, $33 Million, 150 Compounds and $10 Million

Four numbers you should know about the cannabis industry this week.

6.5 Percent

Colorado’s legalization of recreational cannabis sales and use resulted in a 6.5 percent reduction in opioid-related deaths, reversing a 14-year upward trend in opioid-related deaths in the state, according to a study published in the American Journal of Public Health.

The researchers added, “Given the rapidly changing landscape of cannabis and opioid policy in the United States, the need for evidence of the diverse health effects of these laws is increasing.”

$33 Million

Tel Aviv-based Syqe Medical, the Israeli company that created a 3D printed inhaler for medical marijuana and other uses (Phillip Morris has invested) has raised $33 million in funding, Merry Jane reports.

The inhaler is unique because it is a smart device, and allows doctors to prescribe the drug remotely and in controlled doses.

150 Compounds

Canada is calling for more researchers as there are 150 cannabis compounds that have yet to be explored, according to Mike Dixon, a Canadian researcher and professor at University of Guelph who led a study funded by a licensed medical marijuana producer as well the federal government.

Dixon’s team told CTV News that marijuana companies need a “huge number of scientists” to research medical applications associated with marijuana. “There are more than 150 compounds found in cannabis that need to be explored,” Dixon said.

$10 Million

Uraguay company International Cannabis Corporation plans to invest $10 million in cannabis production in 2018.

ICC will produce Uruguay’s first batch of medical cannabis oil for export to Canada and Mexico in December, Business Insider reports.

 

Trafficroots Analysis Pixel