Pharma company HempStreet, which is into research and development of cannabis-based ayurvedic medicinal products has received a Biotechnology Ignition Grant (BIG) from the Biotechnology Industry Research Assistance Council (BIRAC) of the Government of India for research on cannabis for Rs 50 lakhs. BIG, an early-stage biotech funding programme provides young startups and entrepreneurial individuals support of up to Rs 50 lakh for research projects with commercialisation potential with a duration of up to eighteen months. Abhishek Mohan, Co-Founder and CEO, HempStreet said, “This award and the grant validates our efforts to create a world-class organization and take the Indian medical cannabis industry to its rightful place. We are committed to contributing to the global medical cannabis industry. Our research is also a testament to the potential of cutting-edge biotechnology innovation from India, furthermore in an industry as nascent as the medicinal cannabis industry," Shrey Jain, co-founder & COO, HempStreet, said.

Source: dna July 10, 2021 09:00 UTC