Last week, Vermont’s fifth medical marijuana dispensary permit was awarded to the PhytoScience Institute. Based in Waterbury, the cannabis research firm’s bid won out over four other considered applicants. Their plan is to bring dispensaries to Bennington and St. Albans, expanding medical cannabis access to a broader region of the state.
PhytoScience specializes in developing specific THC formulations, delivered by way of capsules and other medical products, and designed to treat a variety of ailments. Speaking with Vermont Public Radio, CEO William Cats-Baril described the current cannabis market as having “a tremendous amount of variety in quality, in content, in potency…and we felt there was a very important role for someone like PhytoScience Institute to play in ensuring quality and safety.”
Cats-Baril believes that the new dispensary license will provide the Institute with the home base necessary to develop formulas and patents that will not only benefit Vermont but the rest of the country as well. “For the first couple of years, it’s going to be investment, and it’s not going to be actually a profitable venture,” he explained. “The model for us is to break even or make little bit of money on the dispensaries.”