Medical Marijuana Inc. Buys Biotech Company PharmaSphere LLC

This is actually pretty cool as one can guess when you read through here that the terrasphersystems is a vertical farming company and obviously you can think of growing marijuana plants but they also grow plants which produce components of drugs used in chemotherapy too, so not a bad deal at all.

PharmaSphere produces high-value, plant-based biocompounds for pharmaceutical, cosmeceutical and nutraceutical markets. BD

SAN DIEGO, Nov. 18, 2011 -- /PRNewswire/ -- Medical Marijuana Inc. (OTC: MJNA) is proud to announce the execution of an option to acquire 100% of PharmaSphere, LLC. PharmaSphere, a cutting edge biotechnology company which has a solution for the production of high value bio-compounds sourced from plants that can be used as active pharmaceutical ingredients. The production of transgenic plants (genetically engineered plants) for the biotechnology revolution is the cornerstone of PharmaSphere's focus and overall development for the plant based medical industry. PharmaSphere holds the exclusive worldwide license for medical herbs from TerraSphere systems.

TerraSphere Systems' (www.terraspheresystems.com) uniqueness for growing plants in environmentally contained and controlled growth environments created the first pharmaceutical grade environment for plant based compounds. These compounds will be used as ingredients for drugs, vaccines, diagnostics, nutraceuticals, cosmeceuticals, and industrial enzymes and materials.

Medical Marijuana Inc. at the moment will be focusing on building PharmaSphere facilities that will cultivate medical herbs such as Madagascar Rosy Periwinkle, which is the source of the generic cancer chemotherapy compounds vincristine and vinblastine. These compounds have worldwide markets for the finished drugs in excess of $4.5 billion. Once facilities are built and the medical marijuana market is legally accepting of large scale commercialization, the facilities can be transitioned to grow any medicinal herb by simply changing seeds. However, the company does plan on building facilities in countries that legally allow the cultivation of medicinal marijuana and hemp for medical benefits. A few examples of these countries are Israel, China, and France. Medical Marijuana Inc. anticipates closing the purchase prior to the end of the fiscal year.