The possible therapeutic use of marijuana's active principles, thr cannabin
oids, is currently being debated. It is now known that these substances exe
rt several of their pharmacological actions by activating specific cell mem
brane receptors, the CB1 and CB2 cannabinoid receptor subtypes. This knowle
dge led to the design of synthetic cannabinoid agonists and antagonists wit
h high therapeutic potential. The recent discovery of the endocannabinoids,
i.e. endogenous metabolites capable of activating the cannabinoid receptor
s, and the understanding of the molecular mechanisms leading to their biosy
nthesis and inactivation, opened a new era in research on the pharmaceutica
l applications of cannabinoids. Ongoing studies on the pathological and phy
siological conditions regulating the tissue levels of endocannabinoids, and
on the pharmacological activity of these compounds and their derivatives,
may provide a lead for the development of new drugs for the treatment of ne
rvous and immune disorders, cardiovascular diseases, pain, inflammation and
cancer. These studies are reviewed in this article with special emphasis o
n the chemical features that determine the interaction of endocannabinoids
with the proteins mediating their activity and degradation.