TEL AVIV, Israel and BETHESDA, Maryland, June 29, 2018 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a leader in personalized cannabis medicine focused on cancer and its side effects, announced today that it has entered a memorandum of understanding with a clinical-stage biopharmaceutical company focused on the treatment of ophthalmic disorders, and that has distribution rights of known medical formulae related to eye diseases.
Per the terms of the agreement, the parties shall establish a jointly-owned new Israeli entity, which will initially be controlled 50/50 by each of the parties. The new entity will focus on exploring the potential of alleviating the effects of eye disorders and infections using cannabinoids, while reducing use of steroid based products which are currently widely used.
The global Dry Eye Treatment market is expected to grow to $4.9B by 2022.
Eyal Barad, CEO of cannabis Pharmaceuticals said: "We are very pleased to enter this agreement which further enables us to leverage our technology and platform to explore the potential of the anti-inflammatory qualities of cannabinoids in this context and tap into the current market for ophthalmic disorders drugs in the US, which is largely dominated by steroids and their derivatives."
About Cannabics Pharmaceuticals:
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a United States-based public company that is developing cannabinoid-based medicine and treatments focused on cancer and its side effects. Cannabics' approach can be used to develop cannabinoid-based therapies as preventive or primary cancer treatments – not just palliative, the way it's being used now. By developing tools to assess effectiveness on a personalized basis, Cannabics is helping to move medical cannabinoids into the mainstream of cancer therapies. The company's R&D is based in Israel, where it is licensed to conduct scientific and clinical research on harnessing the therapeutic properties of cannabinoid formulations. For more information, please visit www.cannabics.com.
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or 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/or 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 on April 6th, 2018. We undertake no duty to update any forward-looking statement or any information contained in this press release or in 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.