Christmas came early for scientists at Sydney University in Australia after Barry and Joy Lambert donated $33.7 million to research the medical benefits of cannabis. This is the largest research donation in the university’s history.
Barry Lambert was a very successful financial planner who said that his family made this donation after his granddaughter Katelyn was able to treat her epileptic seizures through the use of cannabis-based medicine.
Joy Lambert said, “When you get to the end of the road you try desperate measures. I never imagined she would be able to go to preschool.”
What will the donation be used for?
The Lambert donation will bring together three of the university’s leading researchers who believe that cannabis can be used as an application to treat obesity, schizophrenia and drug addiction.
Psychopharmacology Professor Iain McGregor said Sydney University’s research center will focus on 10 cannabinoid compounds found in cannabis. The scientists will study the potential that the compounds have on a number of illnesses, including childhood epilepsy.
Professor McGregor said, “Only one [THC] is psychoactive. This gift will allow us to explore one of the most exciting questions in modern medicine. The new science of cannabinoids has incredible potential for relief of human suffering … and to repair damaged bodies and brains.”
Sydney University’s research center can grow its own cannabis for the research under a license from the state’s chief pharmacist. The lab is focused on synthesizing cannabis compounds.
Pre-clinical studies on cannabis have been favorable
Pre-clinical research in Sydney has found that one of marijuana’s compounds improves memory in mice with Alzheimers-like symptoms. Researchers will study marijuana’s effect on three conditions: intractable childhood epilepsy, pain, and chemotherapy-related nausea.
Trials are expected to commence next year and marijuana advocates expect the country to decriminalize marijuana if these trials prove to be successful.
Australia’s first public company has not seen a favorable reaction
On January 22nd, PhytoTech Medical (PYL: ASX) became the first publicly traded cannabis company to be listed on the Australian Securities Exchange. PhytoTech Medical is focused on developing medical cannabis delivery systems that dispense cannabis in a safe and effective manner.
The company has been trading lower since going public and they are working on developing alternative methods of consumption that include nasal sprays, trans-dermal patches, lozenges, and other delivery forms. We are interested in monitoring company developments following this development.
Authored By: Michael Berger
Michael Berger is a financial writer for MarijuanaStocks.com and the president & founder of Technical420, an independent research firm focused specifically on the cannabis sector. He was working for the equity research department at Raymond James Financial Inc., when he recognized a need for a service that provides up-to-date research and analysis on companies that operate in the cannabis industry. Mr. Berger studied finance and economics at Florida State University and is working toward achieving his CFA charter.
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