Cannabis firms in Colorado, Florida partner to provide pharma-quality medical marijuana products – The Cannabist
Published: May 18, 2017, 2:30 pm • Updated: May 18, 2017, 2:30 pm
Cannabis products firms Wana Brands and Alternative Medical Enterprises LLC have inked a deal that’s one part national expansion play and another part investment in a growing trend: pharmaceutical-quality medical marijuana.
Wana Brands, an edibles company in Boulder, Colo., on Wednesday announced it signed a reciprocal licensing agreement with Alternative Medical Enterprises LLC, or AltMed, a Sarasota, Fla.-based medical cannabis outfit.
The agreement allows for AltMed to manufacture and sell Wana’s product portfolio in Arizona, and Wana can manufacture and sell AltMed’s line of Müv medicinals — including metered dose inhalers, transdermal patches and topical products — in Colorado.
Financial terms were not disclosed in the deal between the two privately held firms.
“They’re high-growth categories. The topicals have been growing at a nice clip,” said Wana Brands co-owner Nancy Whiteman. “I think the products are a perfect fit for the up-and-coming demographics.”
Those demographic cohorts: women, Baby Boomers and senior citizens.
Although Wana is known for its gummies, caramels and “jewels” edibles, the venture with AltMed doesn’t stray too far from character.
Two years ago, Wana launched WanaCapsXR, extended release medical cannabis capsules. The products — which resemble standard pills and come in a childproof white pill bottle — were developed in partnership with Cannabics Pharmaceuticals Inc., a Bethesda, Maryland-based cannabis drug development firm with a research and development hub in Israel.
At the time, Wana co-founder John Whiteman said that his firm saw a need for a “professional product” with the dependability of Tylenol and Excedrin, according to the Boulder (Colorado) Daily Camera:
“Pretty much from the beginning, we realized that the biggest chunk of the market would be regular folks,” said co-founder John Whiteman. “We’ve stayed true to offering a product