Oxford University will be at the forefront of a multimillion-pound research program, which hopes to help develop new therapies for acute and chronic conditions by examining the effects of medical cannabis.

The oldest university in England will be teaming up with private equity company, Kingsley Capital Partners who will provide up to £10 million ($12.36 million) in initial investment, which will be funded through its new biopharmaceutical firm Oxford Cannabinoid Technologies (OCT).

The partnership is expected to bring together Kingsley's financial backing and Oxford's clinical expertise and research in immunology, neuroscience and cancer, to find ways of developing new treatments for those suffering with pain, cancer and inflammatory disease.

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Alexandra Gibbs ~ CNBC.com ~

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