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AltMed teams up with Canadian company to provide medical marijuana

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Posted at 4:42 PM, Sep 24, 2014
and last updated 2014-09-25 07:20:58-04

MANATEE COUNTY, Fla. -- As we first reported Tuesday, the Lakewood Ranch-based medical marijuana company AltMed has a new international partner. The company is teaming up with a company in Nova Scotia, Canada.

We may not know until the vote on Amendment 2 in November, but with this partnership, Lakewood Ranch could emerge as the medical marijuana hub on the Suncoast.

"I think there is real interest on their part in getting a little more information in how we are building out our company." David Wright, co-founder of the soon-to-be medical cannabis facility and dispensary is excited about the collaboration between AltMed and a similar facility in Toronto, Canada.

Wright says there was a reason that specific location east of I-5 at Fruitville Road was chosen. "You don't want this next to a school, you don't want this in the middle of downtown. You want a location that can be secured and is private."

These companies see themselves as pioneers and leaders in the future on the research front when it comes to medical marijuana, according to the CEO of Vida Cannabis. "Some of the proprietary genetics that we're developing will ultimately become intellectual property for each company, and we might be able to patent some of those strains."

Recently appointing two Suncoast doctors, AltMed is building what they say is a strong scientific and medical team. "We're very committed; we're very deep into this. We have made some pretty strong investments, but mostly we are invested emotionally in what we are doing," says Wright.

And not only are the owners of AltMed invested emotionally, they are invested financially as well. They are planning to invest $5 million of their own money into the company.