On January 21, 2017, in Montevideo, Uruguay, the Project for International Development of Productivity (PIEP), has awarded of non-refundable $59,506 grant to CannaPur S.A. for the development of its project for production of hemp based CBD extract for therapeutic use.
The PIEP is a department of the MIEM (Ministry of Industry, Energy and Mining) of Uruguay, and teams with the Fund for Structure Convergence of the MERCOSUR (the South American Common Market). Each year the PIEP makes a request for proposals from start-ups within the area of biotechnology that will develop new, innovative projects that will also include regional integration with the other countries of the MERCOSUR.
CannaPur’s project was ranked third among the top 20 awarded projects. Its project is considered of national interest by the Uruguayan authorities, since it is the first company within the cannabic market to get government funds in the country.
The funds are expected to be released to CannaPur in May 2017, just in time to start construction of the Laboratory in order to get approval of CannaPur’s proprietary hemp seed by the IRRCA (Institute for Regulation and Control of Cannabic Activities). IRRCA approval is expected in November 2017.
More about Cannapur:
CannaPur is a global company dedicated to the strategic production of medical degree Cannabidiol (CBD) from a propietary strain of CBD-rich hemp. It is privately held and based in Montevideo, Uruguay.
CBD is used in the treatment of several diseases, like Refractory Epilepsy, Multiple Sclerosis, Parkinson’s Disease, and medical conditions like Depression and Anxiety. It is also widely used in the Cosmetic Industry and Veterinary.
The hemp, scientifically known as cannabis sativa, is widely used in several industries and its cultivation and processing is universally legal.
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