Cannabics Pharmaceuticals Inc. announced 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.”