TEL-AVIV, Israel, March 20, 2017 /PRNewswire/ --
CannRx together with iCAN:Israel-Cannabis announced the formation of a joint venture at CannaTech , Israel's premier medical cannabis conference. Together, the companies will bring to market ican.sleep, the first advanced sleep cannabis formulation utilizing the CannTrap platform developed by CannRx.
ican.sleep is the first Cannaceutical (GMP, pharmaceutical grade cannabis product) available to the tens of millions of adults suffering sleep disorders. ican.sleep will be launched to the global market following patient trials that will be taking place in Q3 2017. ican.sleep will utilize pharmaceutical grade delivery systems that will provide a stable, controlled dose, of a cannabis formulation making it a breakthrough treatment in the battle for a good night's sleep.
The CannTrap platform is a proprietary technology that captures and stabilizes cannabinoids produced either by smoking, vaporizing or extraction technologies resulting in cannabinoids that are soluble and adequately bioavailable. The result is rapid effect with a prolonged duration.
Bill Levine, the Executive Chairman of CannRx Technologies, said, "According to numerous studies, close to 20% of the population in the West in the suffer from insomnia and it is a serious medical problem. Using the breakthrough CannRx technology that can be used to rapidly induce sleep with a prolonged "through the night" therapeutic effect will be of great benefit to this population. We are excited about the opportunity to work together with ICAN team and launch the ican.sleep product."
The current insomnia treatment landscape is crowded with drugs that are effective in providing short-term relief of symptoms by improving sleep onset and duration. However, the principal unmet need is for drugs with improved safety profiles, as the current first-line therapies are associated with various side effects, including next-day sedation and potential for abuse. Furthermore, there is a need for drugs that can be used for long-term therapy. In Europe, current insomnia treatments are only approved for short-term use (up to four weeks).
Saul Kaye, Co-founder of iCAN Israel-Cannabis and CannaTech, said of the new venture, "As an insomniac myself I am proud to be involved in bringing a next generation cannabis product to the market. Doseable, repeatable cannabis is a reality."
Jeffrey Friedland, noted author, speaker, and opinion leader in the cannabis industry, is on the CannRx Board of Directors. He said, "CannRx's proprietary platform enables the establishment of standard protocols and therapies based upon specific conditions and symptoms - which I believe are critical to the broad acceptance of medical cannabis. "Equally important, CannRx is more than a research and development company, its objective is to generate near-term revenues through the licensing of its technologies in the U.S. to state-licensed medical marijuana businesses, and ican.sleep is our first."
"CannaTech is a global platform that allows participants to meet and collaborate. Other conferences focus on what's happening now in cannabis, CannaTech is the place to see what is next in cannabis," said Saul Kaye, CEO iCAN:israel-cannabis.
About CannRx Technology
Initially formed as a subsidiary of Izun Pharma Corp. ("Izun"), CannRx has a unique technological advantage due to its relationship with Izun, a company with 16 years of success in the specialty pharma area of botanical medicine. Izun has several pharmaceutical products approved in Europe and the US. CannRx's laboratory in Israel is the government's Ministry of Health's leading testing laboratory for cannabis.
CannRx has developed highly accurate quantitative and qualitative analytical chemical assays as well as disease-specific bioassays to determine the activity of specific cannabinoids in the cannabis plant. CannRx has also designed unique and proprietary delivery systems for medical cannabis that increase bioavailability, reduce carcinogenicity, and provide precise dosing of cannabis-based medicines. Its technology provides the benefit of lower doses with increased and prolonged effects with a reduction of side effects.
iCAN is a Global Accelerator of the Israeli Medical Cannabis Industry. iCAN identifies innovative ventures; invests; connects professionals from various industries; and serves as a hub of knowledge, awareness and education regarding Israeli Canna-Tech for audiences worldwide.
Contact Laura Kam, firstname.lastname@example.org +972-54-806-8613.
SOURCE iCAN Israel-Cannabis and CannaTech