TEL AVIV, Israel, Aug. 19, 2021 /PRNewswire/ -- Tikun-Olam Cannbit (TASE: TKUN) and Israeli leading nutritional supplement company, Ambrosia-SupHerb, signed an exclusive partnership agreement for the R&D, production and marketing of a series of unique products that will combine cannabis and mushroom components in the nutritional supplement market. Ambrosia-SupHerb is Israel's largest nutritional supplement manufacturer and is engaged, among other things, in the production of nutritional supplements and is the marketer of Solgar's nutritional supplements in Israel.
As part of the partnership agreement, a pilot will be launched, led by the R&D teams of the parties working together to develop the products, including combining components of additional nutritional supplements such as vitamins, minerals, amino acids and plants.
Right after signing the agreement, the companies will apply to the Medical Cannabis Unit to receive approval for the research and development activity in Israel.
The mushroom market, originating in the Far East, has reached the US and Europe in recent years. It is a market experiencing accelerated growth that is estimated at hundreds of millions of dollars. Tikun Olam-Cannbit has now set its sights on exporting to the European market and, when regulation allows it, local marketing as well.
Avinoam Sapir, General Manager, Tikun Olam-Cannbit, said, "We view the combined power of empirical research and extraction expertise that we have along with the product development and shipping abilities of SupHerb in the nutritional supplement market in Israel and worldwide as perfect synergy. This is a market with tremendous sales potential, as we have seen the mushroom market flourishing in the East and growing in the US. Our empirical knowledge in the field of medical cannabis brings added value in creation of an innovative product that heralds a new message for patients worldwide. We are delighted that Ambrosia SupHerb has decided to invest in the company and thank them for their trust in our vision and their decision to make this strategic investment."
Eitan Markovits, CEO and Owner of Ambrosia SupHerb Group, said, "Ambrosia SupHerb Group's strategic partnership with Tikun Olam-Cannbit is groundbreaking and will introduce the added value, professionalism and experience we have accrued over our 35 years of activity into the new worlds of cannabis-based nutritional supplements that mark a revolution for consumers in Israel and globally."
For more information: [email protected]
SOURCE Tikun Olam Cannbit