MURFREESBORO, Tenn.--(BUSINESS WIRE)--GreenWay Herbal Products, LLC (GreenWay), a botanical innovation company rooted in science, announced today activities related to its 10-year, $2.5 million licensing research agreement with Middle Tennessee State University (MTSU).
This research grant, started in 2016, funds the scientific research into plants with potential medicinal value. An ongoing aspect of this grant activity is the studying of hemp, its cannabinoid components such as cannabidiol (CBD) and cannabidiolic-acid (CBDA), and the benefits of ginseng.
The research grant licenses GreenWay to manufacture and sell nutritional supplements and food additives using select pending patents and other research from MTSU.
“We are thrilled that our relationship with MTSU, and the scientists leading this research allow GreenWay Herbal Products to create nutritional products derived from plants,” said Jeff Heeren, CEO of GreenWay Herbal Products. “As a company, we are dedicated to the health of our planet and the wellness of its inhabitants. We are very excited about the patent-pending, university-developed, hemp-extract formula. We look forward to bringing our products to the marketplace in the very near future.”
The founders of GreenWay Herbal Products, LLC — Richard (Ted) LaRoche and Ed Chiles —have a lifetime of long-term healthcare and food service experience respectively, and both appreciate the opportunity to put their capital to use researching and manufacturing the best nutritional supplements possible. MTSU’s faculty and graduate students have developed more than ten (10) plant-based compounds, including hemp and ginseng, for which MTSU has filed patent applications. GreenWay Herbal Products chose to financially support MTSU knowing their team of biologists and chemists has the experience to identify new plant-derived compounds that GreenWay Herbal Products can bring to the market.
“We remain focused on innovating new and modern ways to develop products from plants with medicinal qualities,” said Elliot Altman, professor of Biology. “And, we are grateful to GreenWay for our research.”
For more information about GreenWay Herbal Products please go to www.greenwayherbal.com.
About GreenWay Herbal Products
GreenWay Herbal Products, LLC was founded in 2016 by Richard (Ted) LaRoche and Ed Chiles and is based in Murfreesboro, Tenn. GreenWay was founded to improve the sustainability of the earth and the well-being of its inhabitants by emphasizing natural plant cultivation and improvement. GreenWay Herbal Products is rooted in science, and is dedicated to consumer health with its commitment to become the leader in the industry of natural plant health supplements/food.
About Middle Tennessee State University
Founded in 1911, the university is composed of eight undergraduate colleges as well as a college of graduate studies, together offering more than 250 degree programs through more than 35 departments. The University’s faculty routinely conducts fundamental and applied research sponsored by the National Science Foundation, U.S. Department of Education, U.S. Department of Defense, and National Institutes of Health. In 2019, Middle Tennessee State University was ranked among the nation's top 385 colleges and universities by The Princeton Review.