Hebrew University of Jerusalem technology transfer company Yissum Research Development Co. Ltd. has signed an exclusive licensing and collaboration agreement with PhytoTech Medical Ltd. for the development, manufacturing and marketing of a novel delivery system to enhance the bioavailability of cannabidiol (CBD) and/or THC. These are the active ingredients in cannabis, for the treatment of various medical indications. The novel formulations are based on oral and transbuccal delivery technologies developed by Professors Abraham Domb and Amnon Hoffman of the Hebrew University Faculty of Medicine, School of Pharmacy, Institute of Drug Research.
PhytoTech Medical last week became the first medical marijuana company on the Australian Securities Exchange (ASX). The company raised AUS$5.9 million dollars (US$4.7 million) at a share price of $0.20 per share.
Cannabis based medications are currently in clinical use worldwide. The most known formulation is Sativex, a sublingual spray delivering CBD and THC. PhytoTech will develop an improved, oral capsule formulation and transbuccal delivery system that consists of a flexible, muco-adhesive patch that will release the active ingredients of cannabis in a controlled manner.
Yissum CEO Yaacov Michlin said, “We are very pleased to collaborate with PhytoTech in developing the inventions of Professors Domb and Hoffman for the purpose of delivering the active components in cannabis. Medical cannabis is increasingly being used for a variety of indications, such as reducing nausea during chemotherapy and relieving pain and muscle spasticity in MS patients. Development of state-of-the-art delivery systems for the active ingredients will undoubtedly pave the way for a wider variety of clinical indications for these types of drugs.”
PhyoTech managing director Boaz Wachtel, known in Israel as one of the founders and leaders of the Green Leaf party, said, “We believe that Yissum’s novel transbuccal delivery method is particularly appropriate for the delivery of these agents, and helps avoid problems such as lack of standardization of drug concentration, and health risks stemming from more traditional ways of absorbing cannabis, such as smoking.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 27, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015