MA holding company helps Israeli MMJ firm expand US reach

Medical marijuana research firm Tikun Olam has expanded its partnership with a canna-centric Massachusetts holding company that will eventually increase the Israeli business’ U.S. footprint to seven states.

Under its new agreement with Newton, Massachusetts-based holding company MariMed, Tikun Olam’s MMJ products will be grown, manufactured and sold in four states where MariMed has a presence – Illinois, Maryland, Massachusetts and Rhode Island.

The arrangement will begin in 2018, according to a joint news release.

Tikun Olam of Tel Aviv currently has products in Delaware and Nevada dispensaries and plans to move into the Washington state market in November.

The two companies initially signed a pilot licensing agreement in 2015 allowing MariMed to grow Tikun Olam’s proprietary strains of MMJ in Delaware, where MariMed owns a vertically integrated business, according to the release.

Tikun Olam produces medical strains that focus on diseases that include cancer, post-traumatic stress disorder, epilepsy, colitis and neuropathy.

According to the release, the company plans to grow at least six of its branded strains in the United States to sell as flower or manufacture for vape oil, topicals, tinctures and edibles.

The Tikun Olam-MariMed arrangement is the latest example of foreign cannabis companies entering the American market. Last month, Canadian and Israeli firms teamed up to take control of four grow sites in Arizona, Maryland, Massachusetts and Nevada.

Daily News | Ancillary Marijuana Companies | Briefs | Cultivation | Delaware Medical Cannabis Business & Marijuana Legal News | Dispensary/Retail Store Business News | Illinois Medical Cannabis Business & Marijuana Legal News | Maryland Medical Cannabis Business & Marijuana Legal News | Massachusetts Medical Cannabis Business & Marijuana Legal News | Medical Cannabis Business & Marijuana Legal News in Other Regions | Nevada Medical Cannabis Business & Marijuana Legal News | Rhode Island Medical Cannabis Business & Marijuana Legal News | Washington State Medical Cannabis Business & Marijuana Legal News

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note: Comments are moderated by our editors who do their best to approve comments ASAP. As Marijuana Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted.