Plandai Biotechnology, Inc. (OTCQB: PLPL) has officially entered the Medical Marijuana industry with its recent announcement that it has formed a new wholly-owned subsidiary, Cannabis Biosciences, Inc., to develop and test a new Phytofare™ botanical extract derived from cannabinoids.
Plandai has been working with cannabis for the past 12 months to determine if the Company's patent-pending process could produce a phyto-cannabinoid extract that exhibits the same high bioavailability of other Phytofare™ products. Once the current scientific viability model is concluded, preliminary bioavailability testing should commence in early 2014 with clinical trials commencing later in the year to pursue various pharmaceutical and nutraceutical applications.
The new extract will undergo a similar extraction process to the other Phytofare™ products and is expected to demonstrate the same high levels of bioavailability and purity. During the extraction process the company could also remove the psychoactive compound Tetrahydrocannabinol, rendering a botanical med that offers many of the medicinal benefits of cannabis without the perceived negative side effects.