Herzliya, Israel and Calgary, Alberta – (Newsfile Corp. – January 13, 2022) – Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (the “Company” or “Innocan”) is pleased , a second amendment (the “Amendment”) to the Research and License Agreement with the Yissum Research Development Company of the Hebrew University of Jerusalem Ltd. (“Yissum”) for conducting studies evaluating the efficacy of its CBD-loaded liposome platform technology (LPT) in the treatment of dogs.
The change was made by the Company’s wholly owned subsidiary, InnoCan Pharma Ltd. (“Innocan Israel”), and on January 10, 2022 Yissum signs and amends the Research and License Agreement dated January 21, 2020 as amended on August 15, 2021 (the “Research and License Agreement”).
Pursuant to the Amendment, Yissum will conduct additional research related to liposomal CBD in dogs (the “Additional Research”) for an additional research fee of $100,000. The additional research will be conducted by Professor Merav Shamir of Veterinary Neurology & Neurosurgery at Koret School of Veterinary Medicine Hospital – The Hebrew University of Jerusalem for a period of six (6) months under a new research program and budget that complements the previous research program according to the research and license agreement.
The Company believes that successful results will lead to further research for other veterinary indications to be decided and confirmed. As the “Global Veterinary Medicine Market Size was estimated at US$29.2 billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.4% from 2021 to 2028” (published in GVR Grand View Research im January 2021), Innocan believes this expansion will allow the company to expand into additional markets in the future.
The prolonged release of cannabidiol (CBD) from the liposomes injected subcutaneously in dogs showed continuous blood concentrations of CBD over a long period of time. In his most recent study of his CBD-loaded liposome (LPT) technology in dogs, CBD showed prolonged and plasma concentrations for at least six weeks after a single administration. These results are a significant advance in the development of technology that demonstrates the benefits of LPT in dogs, which are good predictors of LPT behavior in humans.
The story goes on
Professor Merav Shamir of the Koret School of Veterinary Medicine said: “Dogs are the western world’s primary pet and are often considered ‘a member of the family’. Therefore, owners strive to get the best possible medical treatment for their dogs and are willing to spend whatever is necessary to ensure their dogs’ quality of life and extended life expectancy. Our research aims to help dogs with serious and challenging medical conditions that benefit them can benefit from the CBD-loaded liposome platform technology.”
Prof. Chezy Barenholz from the Hebrew University of Jerusalem said: “We are proud to start this new chapter in our collaboration with Innocan Pharma. We believe that our nanocarrier infrastructure biotechnology will play an important role in bringing our solutions to market through Innocan.”
“We are proud of Innocan’s agility to evolve and understand market trends,” said Iris Bincovich, CEO of Innocan Pharma, adding, “Our anticipated expansion into veterinary medicine demonstrates the strength of our science core and enables it us to market our intellectual property in a variety of ways.”
The researcher may stop the additional research if he determines that the administration of the treatment is detrimental to the health of the dogs.
Innocan’s relationship with the Hebrew University
Innocan Israel has entered into the research and license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem, regarding the design, manufacture, characterization and evaluation of CBD (or other cannabinoids) loaded liposomes. The research and development initiative is led by Professor Chezy Barenholz, head of the Department of Membrane and Liposome Research at The Hebrew University, who is the inventor of over fifty-five patent families, two of which underlie Doxil®, an FDA-approved drug for breast cancer treatment. This unique liposome platform technology can have a wide range of applications such as: B. epilepsy, pain relief, inflammation and disorders of the central nervous system. A patent for this technology was filed on October 7, 2019.
Innocan Pharma is a pharmaceutical technology company focused on developing multiple CBD-containing drug delivery platforms. Innocan Pharma and Ramot from Tel Aviv University are collaborating on a new, revolutionary exosome-based technology targeting both central nervous system (CNS) indications and the coronavirus Covid-19 using CBD. CBD-loaded exosomes have the potential to help infected lung cells recover. This product, which is expected to be administered by inhalation, is being tested against a variety of lung infections.
Innocan Pharma signed a worldwide exclusive license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem, to develop a CBD drug delivery platform based on a unique controlled-release liposome administered by injection. Innocan Israel, together with Professor Barenholz, plans to test the liposome platform under several possible conditions. Innocan Israel is also working on a skin product that integrates CBD with other pharmaceutical ingredients, as well as developing and selling CBD-integrated medicines, including but not limited to topical treatments to relieve psoriasis symptoms, as well as to treat muscle pain and rheumatic Pains. Innocan Israel’s founders and officers all have commercially successful track records in the pharmaceutical and technology sectors in Israel and worldwide.
For more information please contact:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
Lytham Partners, LLC
Ben Shamsian Chartered Accountant | Vice President
Direct: 646-829-9701; Cell: 516-652-9004
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDERS HAVE REVIEWED THE ADEQUACY OR ACCURACY OF THIS NOTICE, OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY.
Caution with Forward-Looking Information
Certain information in this press release, including but not limited to information regarding the success of its research activities, collaborations, the potential for treating indications in dogs using the Company’s LPT technology, further research into treatments for other conditions, the treatment of other conditions and other therapeutic effects arising from research activities and/or the Company’s products, required regulatory approvals and timing of market entry are forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this press release is based on certain important expectations and assumptions made by Innocan, including expectations and assumptions regarding the expected benefits of the products, compliance with regulatory requirements in various jurisdictions and the satisfactory completion of necessary manufacturing and distribution agreements.
Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this press release. Key risks and uncertainties include, among others: general global and local (national) economic, market and business conditions; regulatory and regulatory requirements and actions by government agencies; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks inherent in the nature of product distribution, including import/export issues and failure to obtain (or fail to obtain in a timely manner) required regulatory and other approvals and the availability of product inputs and finished products in each market. The expected timeline for market entry may change for a number of reasons, including the inability to meet necessary regulatory requirements or the need for additional time to finalize and/or fulfill manufacturing and distribution agreements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this press release as of the timing of product distribution. A comprehensive discussion of other risks affecting Innocan can also be found in Innocan’s public reports and filings, which are available under Innocan’s profile at www.sedar.com.
Readers are cautioned not to rely on any forward-looking information as actual results may differ materially from the forward-looking information. Innocan undertakes no obligation to update, correct or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
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