United Cannabis Corp (OTCMKTS:CNAB) has taken an innovative approach to the cannabis market. Rather than simply offering over-the-counter products, the firm’s long-term objective is to advance its Prana offerings into a line of approved pharmaceutical medications that physicians can advise to their patients. The firm finalized a deal with the Caribbean Institute of Medical Research to move closer to accomplishing these objectives.
United Cannabis reported the acquisition of a majority shares in Prana Therapeutics in July 2017. Under the deal terms, Prana will continue to run independently but Dr. Brent Reynolds has by now contributed his expertise in assisting the firm reach its objectives. The firm recently reported that it was issued US Patent giving it exclusive rights to its formulations dependent on compounds taken out from the cannabis