Domestic Report on Medical Cannabis Treatment Cases... Midas AI 'In Focus'

[Asia Economy Reporter Hyunseok Yoo] A research report on marijuana use has been published in South Korea. The actions of Midas AI, a KOSDAQ-listed company that is pursuing the acquisition of marijuana cultivation facilities within this year, are drawing attention.

According to the financial investment industry on the 21st, the National Academy of Medicine of Korea announced a clinical study paper on the administration of the cannabis-based drug Epidiolex to patients with intractable pediatric epilepsy on the 18th. Epidiolex contains cannabidiol (CBD), a marijuana component.

According to the paper, 45 patients with intractable pediatric epilepsy, including Lennox-Gastaut syndrome (LGS) and Dravet syndrome, were administered Epidiolex for six months and observed. About 20% of the patients experienced a reduction of seizures by more than half.

In particular, in the case of LGS, 10% of patients achieved complete seizure control. Side effects were limited to mild gastrointestinal disturbances and drowsiness.

Midas AI is pursuing the acquisition of Melrose Facility Management (MFM), a marijuana cultivation and extraction company in California, USA. On the 26th of last month, it signed a memorandum of understanding with MFM’s largest shareholder, Emplant, to enter into a formal acquisition contract within this year.

Midas AI has also completed local due diligence to acquire sales, manufacturing, distribution license rights, and management control. A company representative stated, “If we acquire management rights of MFM, which holds oil extraction technology and licenses, we can enter the medical marijuana industry not only for intractable pediatric epilepsy but also for dementia treatment,” adding, “The marijuana-based cosmetics business, which recently started sales domestically, is also possible.”

Midas AI is conducting due diligence not only on cultivation facilities but also on retail store acquisitions. It is discussing acquisitions with about ten companies, and since there are only 101 marijuana retail stores licensed by the California state government, it sees potential for growth amid the global trend toward marijuana legalization.

On the 2nd, the UN Narcotics Commission decided by member country vote to remove marijuana and cannabis resin from the list of narcotics. Additionally, on the 4th, the U.S. House of Representatives passed a law removing marijuana from the federal controlled substances list and deleting related criminal charges.

This content was produced with the assistance of AI translation services.