Navigation Links
CannaBANK Acquires Rights to License PharmaSphere's Patented Growth System

SAN DIEGO, April 12, 2012 /PRNewswire/ -- CannaBANK Inc. is proud to announce it has acquired from PharmaSphere, LLC the rights to purchase the exclusive worldwide license for the use of TerraSphere Systems patented technology for any cannabis, hemp or cannabinoid based plant or product. CannaBANK has created PhytoSPHERE Systems, LLC which will be the license holder and a wholly-owned subsidiary of CannaBANK. The terms of the agreement are as follows:

CannaBANK has paid for an agreement to purchase the right to license PharmaSphere's patented technology.  Under the terms of the agreement, CannaBANK must pay an additional sum of $250,000 to purchase the license within 6 months and an operational facility must be in place by the end of the following calendar year. When the first facility is operational under these terms CannaBANK will have the exclusive worldwide rights for an unlimited number of additional facilities under very favorable terms.

"PharmaSphere is pleased to be moving forward on this long anticipated transaction. Our Patented Technology is an incredible leap forward in control, efficiency, report-ability and consistency for this multi-Billion dollar growth industry," said a spokesman for PharmaSphere.

"We are very pleased to have finalized this transaction. Now we can focus on developing facilities that will utilize the panted technology. This will truly make us the World's only pharmaceutical grade provider of organic cannabinoid based compounds," stated a CannaBANK representative.


PharmaSphere, LLC is a biotechnology company that utilizes the TerraSphere technology to produce high-value, plant-based biocompounds for pharmaceutical and nutraceutical markets.  Using the TerraSphere System allows PharmaSphere to achieve full environmental containment and controlled growth conditions, which result in increased production and reduced per-unit costs compared to traditional production methods.


CannaBANK Inc. is a private equity firm specializing in the capitalization and development of hemp-based businesses.


Our mission is to be the world's premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate, invest in and purchase value-added sustainable companies, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, pay homage to the visionaries and activists of the past and present, and provide the platform from which the industry can emerge into a global sustainable economy for all. Medical Marijuana Inc. recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion, thus opening the door for safe and lucrative investment opportunities.


This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana Inc to be materially different from the statements made herein.


These statements have not been evaluated by the Food and Drug Administration (FDA), products and statements are not intended to diagnose, treat, cure, or prevent any disease.

Corporate Contact:

Medical Marijuana Inc.
2665 Ariane Drive Suite 207
San Diego, CA 92117
Toll Free: 888-OTC-MJNA (888-682-6562)
Facsimile:  888-651-0349

Investor Relations Contact:

Equiti-Trend Advisors, LLC
Carmel Valley Center II
11995 El Camino Real, Suite 301
San Diego, CA 92130
(800) 953-3350

Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Duff & Phelps Acquires Lumin Expert Group To Build Global Intellectual Property Practice
2. Safecor Health Acquires Unit-Dose Pharmaceutical Leader RSC
3. Arisyn Therapeutics Inc. Acquires Highly Novel Portfolio of Therapeutic Small Molecules for Infectious Disease and Cancer
4. MediCult Acquires US-Based MidAtlantic Diagnostics to Further Strengthen ART Presence
5. Milestone Scientific Acquires Additional Patent Rights for Painless Injections and Resolves Related Litigations
6. Advanced Instruments Acquires D & F Control Systems Inc.
7. Circassia Acquires North American and Japanese Rights to Dopexamine
8. CPA Acquires Renowned German Patent Research Specialist, SVPG
9. Millstone Medical Outsourcing Acquires New Facility to Accommodate Growing Business, Provide Additional Clean Room Capacity
10. Affitech Acquires Pharmexas Diabody Technology
11. Vyta Corp Acquires 100% Ownership of BIOAGRA, LLC
Post Your Comments:
(Date:11/25/2015)... ... November 25, 2015 , ... ... were featured on AngelList early in their initial angel funding process. Now, they ... for individuals looking to make early stage investments in the microbiome space. ...
(Date:11/24/2015)... 2015 Cepheid (NASDAQ: CPHD ) today ... following conference, and invited investors to participate via webcast. ...      Tuesday, December 1, 2015 at 11.00 a.m. Eastern Time ...      Tuesday, December 1, 2015 at 11.00 a.m. Eastern Time ... New York, NY      Tuesday, December 1, 2015 ...
(Date:11/24/2015)... , ... November 24, 2015 , ... ... healthy metabolism. But unless it is bound to proteins, copper is also toxic ... (NIH), researchers at Worcester Polytechnic Institute (WPI) will conduct a systematic study of ...
(Date:11/24/2015)... 24, 2015  Clintrax Global, Inc., a worldwide provider of clinical ... today announced that the company has set a new quarterly earnings ... on quarter growth posted for Q3 of 2014 to Q3 of ... Mexico , with the establishment of an ... --> United Kingdom and Mexico ...
Breaking Biology Technology:
(Date:10/29/2015)... 2015 Daon, a global leader in mobile ... a new version of its IdentityX Platform , ... America have already installed IdentityX v4.0 and ... FIDO UAF certified server component as an ... FIDO features. These customers include some of the largest ...
(Date:10/27/2015)... 2015 In the present market scenario, security ... various industry verticals such as banking, healthcare, defense, electronic ... demand for secure & simplified access control and growing ... hacking of bank accounts, misuse of users, , and ... PC,s, laptops, and smartphones are expected to provide potential ...
(Date:10/26/2015)... Oct. 26, 2015  Delta ID Inc., a company ... mobile and PC devices, announced its ActiveIRIS® technology powers ... NX F-02H launched by NTT DOCOMO, INC in ... the second smartphone to include iris recognition technology, after ... NX F-04G in May 2015, world,s first smartphone to ...
Breaking Biology News(10 mins):