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.
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