Vireo Health Forms New Company To Commercialize 'Scientific Advancements'

Cannabis company Vireo Health International VREOVREOF has formed a new wholly-owned subsidiary to commercialize its intellectual property.

Resurgent Biosciences, as it's called, will be focused on scientific advancements.

"The formation of Resurgent Biosciences was a necessary progression of our development as we continue working toward identifying the appropriate partners to help us achieve Vireo's vision for the future of cannabis," said founder and CEO Kyle Kingsley, M.D. "Much of our intellectual property has been built with partnership in mind, and structuring those valuable assets under Resurgent will enable us to be optimally flexible as it relates to monetization opportunities both in the near- and long-term future."

Kingsley said the company is looking forward to working with its partners to "commercialize scientific advancements in cannabis" that may ultimately benefit its consumers across the United States and — potentially — the world.
The subsidiary will not be in direct contact with crops. The goal is to expand its possibilities and generate potential partnerships with strategic results in Vireo's search to monetize its scientific advances.

Vireo currently holds an extensive list of patents pending approval by the United States Patent and Trademark Office. Its patent for harm reduction in tobacco products was conceded earlier this year.

Last month, Vireo closed $10 million in financing as part of a deal coordinated by cannabis investor Bruce Linton.

"This financing reflects the confidence of the capital markets in the potential growth of sales and margin for Vireo," Linton said at the time.

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Photo courtesy of Vireo