Oxford at forefront of medical cannabis research

The University of Oxford will be at the forefront of a multimillion-pound research programme which hopes to help develop new therapies for acute and chronic conditions by examining the effects of medical cannabis, writes Alexandra Gibbs for CNBC.com.

The oldest university in England will be teaming up with private equity company Kingsley Capital Partners which will provide up to £10 million (US$12.5 million) in initial investment, which will be funded through its new biopharmaceutical firm Oxford Cannabinoid Technologies.

At present, cannabis is not permitted in the United Kingdom despite calls for its legislation; however, the cannabis-based ingredient cannabidiol has recently been classified as a medicine. In 2016, a cross-party group of UK politicians called upon the government to legalise medical cannabis, stating that there was a sound evidence base that revealed cannabis could be effective for a number of chronic conditions.
Full report on the CNBC site