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The Company That Got the License to Grow and Sell Weed from the DEA and DOJ Just Raised $20 Million

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Biopharmaceutical Research Company got a unicorn license and just raised $20 million

Biopharmaceutical Research Company (BRC), a Monterey, California-based organization which holds a valid Drug Enforcement Administration (DEA) pharmaceutical cannabis license, in Series A funding raised a total of $20 million. Achari Ventures, Argonautic Ventures, AFI Capital Partners, Self Health America, Delta Emerald Ventures, and several distinguished private equities participated in the round, which Intrinsic Capital Partners spearheaded.

As a result, the company will be able to aggressively extend its operations, expand its product line, engage in sponsored research, and carry out its go-to-market plan.

Biopharmaceutical Research Company expanded its research capabilities rapidly, enhanced its cannabis growing business, and created innovative cannabis-derived products in a way that was compliant with federal regulations after obtaining the DEA Schedule I registration in 2021. According to George Hodgin, CEO of BRC, this huge additional financial investment will further improve the company’s ability to grow as an organization while positioning BRC as a market leader.”

In addition to giving BRC the money needed to snowball, Intrinsic also brings a wealth of knowledge about the pharmaceutical industry. George Hodgin added that BRC is incredibly appreciative of the Intrinsic team and all of its collaborators for understanding the significant potential of our project.

BRC was a select few American businesses given a production license by the DEA in 2021 to create safe, dependable, and legal cannabinoids for nationally recognized researchers. BRC has teamed up with university research organizations, such as the University of California-Davis and Washington State University.

According to Intrinsic Managing Partner Howard Goodwin M.D., BRC has precisely the tremendous potential their fund looks for in a firm. Howard added that Intrinsic Capital Partners is excited to work with a firm already in a favorable position because of its unique capacity to comply entirely with the DEA. They are a purpose-driven company with strong management in a high-growth market.

Biopharmaceutical Research Company Team
BRC enters its Series A investment round with a solid and seasoned team and is pleased to announce the addition of PIPV Capital’s Senior Managing Partner and owner of GlaxoSmithKline Ventures, Osagie Imasogie, to its Board of Directors. In addition, BRC welcomes to its Board of Advisors former Chair of the Massachusetts Cannabis Control Commission, Steven Hoffman, and Bob Sheriff, former Global Head of Supply Chain across numerous businesses at Johnson & Johnson. Image and Sheriff are both members of Intrinsic’s extensive operating network.

Hunter Land has been appointed Vice President of Translational Research as the BRC workforce continues to expand. Land formerly worked as a Vice President of Translational Research and Executive Board Member at Alterola Biotech. He has more than 18 years of R&D experience across 15 various indications and 10 years of experience in cannabinoid-focused research. He has created a pipeline of research work on more than 20 novel terpenes and cannabinoids as a specialist in the discipline of cannabinoid science.

About Biopharmaceutical Research Company (BRC)
Biopharmaceutical Research Company (BRC), led by CEO George Hodgin, is a DEA-registered botanical cannabis enterprise focused on the federally authorized manufacturing of active pharmaceutical ingredients and collaborative research and development.

The company aims to provide high-quality, federally authorized pharmaceutical active ingredients for plant-based medicines for researchers and patients worldwide. BRC has recently collaborated with university research institutes such as the University of California-Davis and Washington State University.

They can conduct all botanical API activities because they are a certified, federally authorized cannabis pharmaceutical company. They will also sponsor many researchers’ Investigational New Drug (IND) proposals to pursue cures for chronic pain, PTSD, and other medical conditions.

Intrinsic Capital Partners
Intrinsic Capital Partners is an investment company based in Pennsylvania that specializes in life science and technology companies in the legal hemp and cannabis industries. The Intrinsic team combines institutional investing discipline with world-class operational experience to establish and scale industry-leading firms that address neglected needs throughout the supply chain.

Intrinsic Capital Partners is a private equity investment firm that invests in promising, growing companies in the legal cannabis market. Their team has extensive experience in investing, regulatory, pharmaceutical, and deal structure. They are dedicated to generating value for portfolio business owners while offering excellent returns for our fund investors in collaboration with our world-class ecosystem of operating partners with years of expertise in establishing brands and businesses across the healthcare and consumer industries.

Intrinsic Capital Partners offers an operator-centric investment methodology to build a comprehensive portfolio of top cannabis and hemp companies. North Point Mergers and Acquisitions served as BRC’s private placement agent in the fundraiser, and Morrison & Foerster LLP served as legal counsel.

The Drug Enforcement Administration
The Drug Enforcement Administration (DEA) is a federal law enforcement organization of the United States Department of Justice tasked with fighting drug trafficking within the USA. It is the primary enforcement agency for the Controlled Substances Act in the United States, sharing concurrent authority with the U.S. Customs and Border Protection, Federal Bureau of Investigation, Customs Enforcement, and U.S. Immigration. The DEA is primarily in charge of coordinating and prosecuting U.S. drug prosecutions internationally and domestically.

The DEA maintains a registration system that allows anybody to manufacture, export, import, and market Schedule I drugs by submitting DEA form 225. Medical professionals, manufacturers, and researchers have access to “Schedule I” medications and Schedules 2, 3, 4, and 5 if licensed by the DEA. Authorized applicants file for and are awarded a “DEA number.”

A DEA number authorizes an entity to manufacture (drug firms), disseminate, prescribe ( nurse practitioners, pharmacists, doctors, and physician assistants, among others), research, or dispense (pharmacy) a prohibited substance. BRC was a select few American businesses given a production license by the DEA in 2021 to create safe, dependable, and legal cannabinoids for nationally recognized researchers.

Conclusion
With the latest $20M funding, Biopharmaceutical Research Company can rapidly expand its research capabilities, enhance its cannabis growing business, and create innovative cannabis-derived products that comply with federal regulations.

Source: https://cannabis.net/blog/news/the-company-that-got-the-license-to-grow-and-sell-weed-from-the-dea-and-doj-just-raised-20-mill

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Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light

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Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).

The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.

India’s Indigenous LEO Satellite Vision

Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.

The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.

According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.

The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.

Regulatory Process Moves Forward

Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.

The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.

Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.

Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.

Broadband, Mobile Connectivity, and Strategic Applications

Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.

The company also intends to establish 20 to 22 ground stations across India to support network operations.

Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.

Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.

Major Step for India’s Space and Telecom Sectors

Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.

The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.

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Alleged Crores Pharma Scam Mastermind Arrested from Surat

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After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.

Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.

Fake Business Deals and Dishonoured Cheques Used in Fraud

Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.

In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”

Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.

Multiple Identities and Repeated Fraud Pattern

Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.

Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.

Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.

Multi-State Surveillance Leads to Arrest in Surat

A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.

Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.

Growing Threat of Corporate Identity Fraud

The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.

Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.

Experts Urge Stronger Due Diligence in High-Value Transactions

Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.

Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.

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EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices

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A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.

Investigation Under Digital Markets Act Gains Momentum

The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.

Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.

Industry Groups Demand Swift Action

Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.

Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.

In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.

Google Denies Allegations

Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.

However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.

Potential Billion-Euro Penalties

If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.

Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.

Wider Implications for Big Tech

The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.

A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.

As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.

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