On February 20 the Pennsylvania Department of Health named Laurel Harvest Labs, a Merida portfolio company, as one of four new clinical registrants that will be part of the state’s first-in-the-nation research program for medical marijuana, joining three registrants approved in June 2019. It is especially gratifying due to the 3 year effort to achieve licensing, an effort which started several months before Merida was even formed!
As a clinical registrant, Laurel Harvest Labs and its contracted academic clinical research partner Lewis Katz School of Medicine at Temple University, holds both a medical marijuana grower/processor and dispensary permit. The license is considered by many to be one of the more powerful licenses in a limited market because it puts our portfolio company in direct partnership with Temple, who has one of the most sophisticated cannabis research programs in the U.S. It also allows us to further our efforts on research and development, which will include portfolio companies like CB2 Insights, Manna Molecular, Emerald Scientific, Ionization Labs and New Frontier. In addition, we will be able to utilize the services/products of a variety of other portfolio companies as we go into operational mode.