Medical marijuana applicant offers $1M for Albany-area research (Times Union)

An applicant to run a medical marijuana company in Glenville has promised $5 million for research — with $1 million to be spent in the Capital Region — if the state selects it as one of five organizations to be granted licenses to operate.

Fiorello Pharmaceuticals said Tuesday that, if chosen for a license, it has earmarked $1 million for research at to the Institute of Chemical Biology and Drug Discovery (ICB&DD) at Stony Brook University, $1 million to institutions in the four-county Capital Region, and $3 million to researchers throughout New York. The fledgling firm has also promised support to the Arnold and Marie Schwartz College of Pharmacy of Long Island University...More>>>