The Government order will go into effect on June 13, 2020
TEL AVIV, Israel and BETHESDA, Maryland, May 26, 2020 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a leader in personalized cannabinoid medicine focused on cancer and its side effects, announced today that the Israeli government has granted final approval for the export of medical cannabis and products into international regulated markets such as the European Union (EU), Canada and Australia.
The new regulation will allow export of GMP certified cannabis products under the Cannabics™ brand, such as Cannabics™ SR formulation.
Cannabics™ SR formulation has been tested as a palliative treatment to improve loss of appetite and loss of weight in advanced cancer patients suffering from Cancer Anorexia-Cachexia Syndrome (CACS). The formulation was developed and clinically tested at the RAMBAM Medical Center in Haifa, Israel. Results of the clinical trial can be found here.
Cannabics Pharmaceuticals is licensed by the Ministry of Health in Israel to conduct Research and Development in Cannabinoid based medicine. The company operates a High Throughput Screening (HTS) Facility in Rehovot, Israel, focused on cancer drug discovery.
In a statement, the Israeli Minister of Economy and Industry, said: "This is a significant step for exporters and the Israeli industry, which will enable both expansion of export opportunities in the industry as well as increasing employment in the field, especially in light of the worldwide demand for medical cannabis products from Israel."
Mr. Gabriel Yariv, Cannabics' President and COO, said: "This is exciting news for the entire industry, but also specifically for us as an American pharmaceutical company with R&D operations in Israel. We are already evaluating the opportunities made possible by the new regulation, allowing high quality Israeli pharmaceutical products to compete on the global medical cannabis marketplace."
About Cannabics Pharmaceuticals
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a U.S public company that is developing a platform that leverages novel drug-screening tools to create cannabinoid-based therapies for cancer that are more precise to a patient's profile. By developing tools to assess effectiveness on a personalized basis, Cannabics is helping to move cannabinoids into the future of cancer therapy. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and cancer. For more information, please visit www.cannabics.com.
For the latest updates on Cannabics Pharmaceuticals follow the Company on Twitter @Cannabics, Facebook @CannabicsPharmaceuticals, LinkedIn, and on Instagram @Cannabics_Pharmaceuticals.
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our Company's management and are subject to significant risks and uncertainties. Actual results may differ from those outlined in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission including, without limitation, our latest 10-Q Report filed April 13th, 2020. We undertake no duty to update any forward-looking statement or any information contained in this press release or other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Cannabics Pharmaceuticals Inc., which are condoned by the Company, must emanate from the Company itself and bear our name as its source.
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SOURCE Cannabics Pharmaceuticals Inc.