Jefferson University gifted another $2 million for cannabis research

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The donation is the second by Australian philanthropist Barry Lambert

Last month, philanthropist Barry Lambert, together with his wife, Joy, announced that Jefferson University in Philadelphia, PA would be the recipient of $2 million in order to fund cannabis research. The couple had already given the school $3 million about three years ago to create the Lambert Center for the Study of Medicinal Cannabis and Hemp and they have now topped off their $5 million with another $2 million.

The latest donation will be used to establish the Lambert Innovation Fund, which operates within Jefferson’s Innovation Pillar. The Innovation Pillar is the same target of the funds made available through May’s donation. It is a startup that was created to encourage the development of innovative ideas that could then be converted into commercial products and services.

Lambert found success through Count Financial, a company he founded in Australia that became the country’s largest network of accounting-based advisory firms. He sold the business in 2011, collecting over $300 million in the process, and moved on to become the CEO of Ecofibre, a hemp cultivation farm in Kentucky.

Ecofibre also produces nutraceuticals made with cannabidiol (CBD) under the brand name Ananda. It hopes to become the first produce of high-performance hemp-based textiles under a separate subsidiary, Hemp Black, which operates via a partnership with the East Falls campus at Jefferson University.

Lambert is a true believer in the power of hemp. He and his wife are making the donations because they know it works, with Lambert stating last month, “Research into hemp is important to me and Joy, because we’ve seen it work. Medicine derived from hemp gave relief to my granddaughter’s seizures, and our hope is that this new fund will provide resources and inspiration for innovations and products that help others.”