In Florida, HempTech Corporation agreed to build a drug development and manufacturing facility for Biotica Pharmaceuticals. HempTech, a provider of advanced controlled environment agriculture with sophisticated automation and analytical tools for cultivators of legal industrial hemp and marijuana, will begin work in the second quarter of 2017 on grow, lab extraction and laboratory facilities that will be used to develop pharmaceutical grade marijuana strains for use in medical discovery.
Acting HempTech CEO Sam Talari said, “With expected legal and recreational cannabis market to reach billions of dollars in coming years, we will be positioned to capitalize on this tremendous opportunity.”
Biotica Pharmaceuticals developed a novel combinatorial library of phytocannabinoids and endocannabinoids for treating various human diseases. Biotica has applied for two patents for their platform technologies and their current portfolio also includes specific novel drug formulations such as candidates to treat Eosinophilic Esophagitis and the early stages of Alzheimer’s disease.