Another Israeli Cannabis company is arriving on Wall Street: OWC (One World Cannabis), which deals in research and development of cannabis-based treatments for a variety of diseases and medical conditions, will be traded over the counter on Wall Street. This follows the completion of the reverse merger with Dynamic Applications. OWC shareholders hold 53% of the merged company.
The company’s cannabis treatment is intended for a variety of applications, including the treatment of diabetes, Parkinson’s disease, epilepsy, and more. The company recently raised $2 million, and reports that it is in talks with a number of Israeli hospitals to jointly carry our pre-clinical and clinical trials. The company plans to establish a non-profit organization to support patients who use medical cannabis, with the aim of attracting patients who are seeking information and support.
The scientific team is led by Dr. Alan Shackelford, who is an expert in the field. The company’s stock currently trades at $0.18 per share, which reflects a company value of close to $10 million.
Another Israeli company in the field is Cannabics Pharmaceuticals, is also traded over the counter on Wall Street at a company value of $25 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2014
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