Mr. Cannabis Law is branching out from the marijuana industry.
The Fort Lauderdale law firm is pivoting to focus on a range of emerging and highly regulated sectors, including artificial intelligence, alternative health care, psychedelics and cannabis. To reflect its new mission, the firm rebranded and is now called LumaLex Law.
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"As the world continues to evolve and technology continues to emerge, this transition allows us to service more than just cannabis and psychedelics companies," said founding partner Dustin Robinson.
It can be difficult for cannabis and psychedelics businesses to navigate the market because those substances are still federally illegal. Meanwhile, policymakers at the state and federal level are grappling with how to govern rapidly advancing technology like AI, which is still largely unregulated.
Robinson is also the founding manager of Iter Investments, a venture capital firm that deploys capital to psychedelic health care companies.
Medical research suggests psychedelic substances like psilocybin (the active ingredient in "magic mushrooms") and ketamine could be used in combination with therapy to treat conditions such as major depression and post-traumatic stress disorder. Several South Florida investors and startups, including Iter Investments and Miami's Nue Life, argue psychedelics could be a promising alternative to traditional prescription medications. Businesses in the psychedelic biotech space often struggle to attract institutional capital because of the complicated legal status of those substances.
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Mr. Cannabis Law, also led by Robinson, will continue to operate as a consulting firm that provides non-legal services to the marijuana industry.
Headquartered in South Florida, LumaLex has a team of seven attorneys and services clients across the U.S.
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