An Ohio college has signed a letter of intent with cannabis testing laboratory CCV Research which should eliminate the risk of delays to the medical cannabis program roll-out because, under the state law, labs are required to partner with higher education institutes but until now none had decided to participate.
Dr. Jonathan Cachat, PhD, CCV Research CEO, said the team “had a difficult time even identifying qualified colleges willing to engage in the conversation.”
“However, we found a unique, entrepreneurial team that recognized the opportunity to provide education with hands-on lab experience, create local jobs, and support a functioning medical cannabis system in Ohio,” he said in a press release.
The college has not yet chosen to be identified.
Ohio’s medical cannabis program is expected to come online in September 2018 and earlier this week the state legislature’s Joint Committee on Agency Rule Review approved rules for the program. Under the rules, industry applicants will be subject to steep fees – processors will pay $10,000 to apply for a license, another $90,000 if approved, and $100,000 annually to renew. Dispensary applicants will pay a $5,000 fee and $70,000 bi-annually if approved. Laboratory application fees are $2,000 and the certificate of operation fee runs $18,000, with annual renew fees of $20,000.