Black Elk Biotech is a subsidiary of Black Elk, an Ohio company focused on products and medicines derived from fruits, trees, plants and other vegetation.
According to The Post – an independent student-run newspaper on the OU campus – the funding will bankroll research into natural treatments for various medical conditions.
The five-year study is slated to be conducted at OU’s Edison Biotechnology Institute, according to The Post. The institute’s director told the newspaper that researchers must first obtain state and federal licenses to study cannabis. The applications are pending.
To start, researchers plan to test the impact of plant extracts on cells. After that, researchers would conduct tests on living organisms such as mice. The researchers ultimately hope to perform tests on humans.