Colorado marijuana advocates – including many MJ companies – have formed a coalition to combat a proposed ballot measure that many in the industry say would gut the state’s cannabis market.

The proposed ballot initiative would cap cannabis product potency at 16% THC.

The new organization, the Colorado Health Research Council, is comprised of “cannabis patients, caregivers, scientists, cannabis industry leaders, the business community, and ordinary citizens who are organizing to defeat” the proposed constitutional amendment, according to a press release. Marijuana companies are bankrolling the effort.

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Spearheading the coalition is LivWell Enlightened Health, one of the largest cannabis retail chains in the state. Other financial contributors include at least 20 other marijuana businesses, according to the Denver Post. The group has so far raised more than $300,000.

The proposed amendment, which has yet to formally make the ballot, would prohibit marijuana products that generate more than 80% of industry revenue in the state, according to one analysis. It’s supported by the Healthy Colorado Coalition, led by former Colorado House Speaker Frank McNulty, a Highlands Ranch Republican, the Post reported.

The group needs to gather at least 98,000 signatures by Aug. 8 to make the November ballot.