TEL AVIV, Israel and BETHESDA, Maryland, July 14, 2020 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a leader in personalized cannabinoid medicine focused on cancer and its side effects, announced today that it has initiated activities to penetrate European markets in order to offer a test based on its diagnostic platform to patients who suffer from cancer and are treated with cannabinoids, where regulations permit it.
In light of the growing number of European countries that have regulations in place for the medicinal uses of cannabis, combined with the growing number of cancer patients in the continent, the company decided to strategically focus its efforts on making its HTS diagnostic platform available in these territories.
Regulation in Europe requires clinical trials to be conducted in order to establish the validity of the company's technology. It is the company's intention to conduct further clinical trials to accomplish this milestone.
The company's diagnostic platform utilizes its High Throughput Screening (HTS) facility, located in Israel. It is designed for cancer patients who seek the optimal cannabinoid composition.
In this test, cancer cells, in the form of a biopsy, are derived from a patient, and are then screened against dozens of cannabinoid compositions, which stem from what is available in the patients' respective territory. Once exposed to the cannabinoid compositions, the cancer cells are monitored for apoptotic and necrotic effects. The results are then reported back to the patients and their practitioners, assisting them with making cannabinoid-based therapy decisions for optimal outcomes.
According to a report issued by the World Health Organization in May 2019, there are approx. 58,000 new cases of colorectal cancer that are diagnosed each year in Germany alone. Therefore, and based on previously held pre-clinical trials at the company's facility, exhibiting cannabinoids demonstrating positive differential necrotic effects on colon cancer cells, the company is expanding its efforts in order to penetrate the European markets, with a focus on patients diagnosed with cancers of the gastrointestinal tract.
Mr. Itamar Borochov, Cannabics' Co-Founder and Chairman, said: "We are pleased to announce our intentions to penetrate the European markets, in such countries and territories where regulation permits the use of medical cannabis. Our aim is to bring forth valuable insights in order to further personalize cannabinoid-based therapy for cancer patients. European markets, such as the German market, present a unique opportunity with more and more countries opening to medicinal use of cannabis products containing THC alongside CBD and other cannabinoids. Our intention is to provide personalized, detailed reports to help cancer patients and their practitioners choose wisely from the plethora of medical cannabis products that are available in the European cannabis markets."
About Cannabics Pharmaceuticals
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a U.S public company that is developing a platform that leverages novel drug-screening tools to create cannabinoid-based therapies for cancer that are more precise to a patient's profile. By developing tools to assess effectiveness on a personalized basis, Cannabics is helping to move cannabinoids into the future of cancer therapy. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and cancer. For more information, please visit www.cannabics.com. For the latest updates on Cannabics Pharmaceuticals follow the Company on Twitter @Cannabics, Facebook @CannabicsPharmaceuticals, LinkedIn, and on Instagram @Cannabics_Pharmaceuticals.
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. 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 outlined in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and 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 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 April 13th, 2020. We undertake no duty to update any forward-looking statement or any information contained in this press release or 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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