Industrial scale production has dominated store shelves for decades. Now that formula is being adopted by the cannabis industry. For Front Range Biosciences (FRB), mass propagation of crops starts in the lab, where consumer cannabis is selectively cultivated and sold to licensed growers. Today, the agricultural biotech startup, which works with coffee strains and industrial hemp clones as well as tissue-culture cannabis, closed a Series A round of $10 million.
Investors remain slow to put their money in marijuana while it remains illegal under federal law, even in states where it’s legalized for medical use, so it’s no surprise that FRB’s latest round is one of the largest biotech cannabis investments in the United States. The fresh cash influx will go toward expanding FRB’s trademarked Clean Stock program headquartered in Lafayette, Colorado. The program aims to produce quality-controlled curated cannabis plants in abundance.
“There’s always this dynamic between the scale of industrial agriculture versus the quality and business practices of your smaller local farms,” Jonathan Vaught, cofounder and CEO of FRB, told Forbes. [Read more at Forbes]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
Local government opposition, high taxes and competition from unlicensed businesses are complicating the state’s push to build a thriving legal market. LOS ANGELES — California’s cannabis market is booming nearly five years after voters legalized recreational weed. But there’s a catch: the vast majority of pot sales are still underground. Rather than make cannabis a…
LUXEMBOURG is to become the first European country to permit adult-use cannabis after the Government announced measures to permit households to cultivate up to four domestic plants. The announcement, earlier today, applies to to all citizens over the age of 18 with the new regulations also allowing for the sale and import of seeds. However,…
FRIDAY, Oct. 22, 2021 (HealthDay News) — Researchers may be one step closer to developing the equivalent of a Breathalyzer for detecting marijuana use. In an early study, scientists found that their rapid test was able to reliably detect THC in people’s saliva in under 5 minutes. THC, short for tetrahydrocannabinol, is the active ingredient…
New York Labor Law 201-D This document is intended to address some of the most common situations or questions in the workplace related to adult-use cannabis and the Marijuana Regulation and Taxation Act (“MRTA”). This document does not address the medical use of cannabis. For further assistance with New York Labor Law and the MRTA, please…