In a first, govt issues grant to HempStreet for medicinal cannabis solution

By Neetu Chandra Sharma

NEW DELHI: The Biotechnology Industry Research Assistance Council (BIRAC) has issued a Biotechnology Ignition Grant (BIG) to HempStreet, a research to retail venture in the Medicinal Cannabis sector. The grant is for work on medicinal cannabis solution – a first in India.

The company on Tuesday said it has plans to utilise the funds to patent and commercialise a recent research breakthrough around transdermal delivery technology that could disrupt a $7 billion global industry. HempStreet aims to tackle mass-ailments utilising researched and responsibly dispensed medicinal cannabis for pain relief to an addressable patient base of over 35 million.

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