One of the world’s top research universities, Oxford University, has received 10 million pounds ($12.3 million) from a London-based private equity firm to study the medical benefits of marijuana, a move that could lead to more acceptance of MMJ as a medicinal therapy worldwide.
According to a news release, Oxford will use the money to identify state-of-the-art medical therapy by researching the “molecular, cellular and system mechanisms of cannabinoids.”
Citing pain, cancer and inflammatory disease, the release noted the British university will target therapies for acute and chronic conditions.
Kingsley Capital Partners, which is providing the funding, has plowed investment dollars into the therapeutic cannabinoid market.
Kingsley plans to bankroll Oxford’s research effort through a new portfolio company, Oxford Cannabinoid Technologies. The program is funded over 36 months.
Oxford and Kingsley plan to host an International Cannabinoid Biomedicine Conference intended “to increase dialogue in the cannabinoid research space.” The first gathering is scheduled for the fourth quarter of 2017.
This article first appeared on Marijuana Business Daily.