MMJ Bioscience

MMJ Bioscience operated as a biopharmaceutical company with a focus on developing cannabis-based therapeutics. The company was centered on the production, research, and development of medicinal cannabis products, including phytoceuticals and nutraceuticals. Its business model was vertically integrated, encompassing the entire supply chain from cultivation and processing to clinical development and distribution.

In July 2015, PhytoTech Medical Limited completed the acquisition of MMJ Bioscience. The merged entity was renamed MMJ PhytoTech, combining operations across the medical cannabis value chain. At the time of the acquisition, intended board nominees from MMJ included Andreas Gedeon, Ross McKay, and Jason Bednar, with Andreas Gedeon slated to become the Managing Director and CEO of the combined group. The transaction was valued at AUD 20.7 million in stock.

The company's strategy involved leveraging its integrated supply chain and proprietary delivery technologies to bring prescription drugs to market. A key product in development was a cannabidiol (CBD) food supplement in a softgel capsule form, known as Gelpell®, intended for the European market through its subsidiary Satipharm. MMJ Bioscience's Canadian subsidiary, United Greeneries, was established to produce medical cannabis under Health Canada's regulations, serving both as a supplier for its own pharmaceutical development and as a potential revenue source by offering lab services to other licensed producers. The company's research and development arm, PhytoTech Therapeutics in Israel, partnered with Yissum Research Development Company of the Hebrew University of Jerusalem to develop advanced drug delivery systems, including oral capsules and transbuccal patches.

MMJ Bioscience, through its holding company MMJ International Holdings, pursued the development of plant-derived cannabinoid medicines for neurological conditions like multiple sclerosis and Huntington's disease, aiming for FDA approval. It established partnerships, such as one with Terra Life Science group, to manufacture its cannabis-based medicines for clinical studies. The company received a license from Health Canada to create proprietary formulations for its studies and was granted Orphan Drug Designation by the FDA for its lead product candidates, MMJ-001 and MMJ-002, which provided incentives like market exclusivity and tax credits.

Keywords: cannabinoid therapeutics, medical cannabis, biopharmaceutical, drug development, PhytoTech Medical, MMJ PhytoTech, Satipharm, Gelpell, United Greeneries, Health Canada, FDA approval, clinical trials, multiple sclerosis, Huntington's disease, orphan drug, plant-derived medicine, pharmaceutical cannabis, Duane Boise, Andreas Gedeon, vertically integrated cannabis