Yesterday, Cannabis Science announced the signing of a lease for a new corporate headquarters in Denver, Colorado. The 6,600 square foot facility will house the executive offices and administrative personnel, as well as contain the Lab Division department which serves as the primary home for the biotech company’s cannabis formulations testing and FDA initiatives.

Cannabis Science is dedicated to the formulation of cannabis-based medicines, working with and researching pharmaceutical grade marijuana and phytocannabinoid-based pharmaceutical products. The company works with medical authorities to develop methods of treating critical illness using cannabis and related products.

Cannabis Science’s five year lease will provide a stable base for growth during their development phase, and will facilitate consumer communications. The signing of the lease is the company’s next step, after developing their corporate structure and building their initial finances. The new lab facility will house their chemical and genetic experimentation, as well as their extraction equipment. With the new facility, they will be able to better adhere to FDA guidelines and standards.

This announcement follows an earlier statement from July 2010, where Cannabis Science executed on a lease for a facility that houses the company’s grow operation and horticultural facility, which also contains a medical cannabis dispensary.

Robert Melamede, CEO of Cannabis Science, said, “Needless to say we are very happy that with the support and patience of our investors we have achieved this milestone. This facility will be the Cannabis Science core and is an instrumental step in accomplishing our short and long-term goals of carrying out the basic and applied research needed to provide the best Cannabis Science products to patients. Uniquely, Cannabis Science will serve both the dispensary market, through licensing our technologies and analytical capabilities, and the pharmaceutical market, by working through the FDA approval process,”