May 16, 2014 -
Medbox has announced that the USPTO has issued a notice of allowance for a new patent, which includes coverage of a biometric identity verification system for seed-to-sale monitoring.
Medbox has positioned itself in the medical marijuana space, as its biometric vending machine for dispensing medical marijuana has seen significant success in the past year.
According to the company, this new USPTO allowance is being described as the first seed-to-sale patent the marijuana industry has ever seen.
The application allowed by the USPTO describes a system to verify the identity of a patient/user receiving medication; monitor the dispensing of medication to the user; monitor the development of the medication, including tracking the location from which the seeds are obtained, cultivation and harvesting of the plant; the conversion of this into a medical product; as well as a biometric chain of custody seed-to-sale system.
“This is a significant and wide-ranging patent covering ‘Seed-to-Sale’ verification and monitoring,” Matthew Feinstein, Vice President at Medbox said. “From the start, our Medbox system was designed to provide comprehensive tracking and inventory management to help operators of cultivation facilities and dispensaries maintain stringent compliance with all state regulations, and this patent reinforces that Medbox is the first-mover and leader in this industry.”
Reported previously in BiometricUpdate.com, In 2013, Medbox announced a 50% partnership stake in MedVend, a Michigan based bio-tech company that has developed an automated medicine dispensing machine used for traditional prescription pharmaceutical dispensing.
“When I filed this patent in February of 2011, I envisioned that the content of the application would one day be an absolute necessity in the marijuana industry,” Founder and Senior Strategist Vincent Mehdizadeh said. “As the majority shareholder and visionary behind Medbox, I am elated that my intuition paid off for the company and its investors. This patent will change the way we market our suite of services to individual clients, cities, states, and countries grappling with complex marijuana industry oversight. As documented in the licensing agreement filed with our registration statement with the SEC, all proprietary technology I have created, both pending and issued, has been granted exclusively to Medbox to bring added value to the company and its shareholders. As I transition into more of a ‘Founder’s Role’ and let our seasoned professionals run the company, it is nice to see the fruits of my labor turn into a big score for the company.”