PETACH TIKVA, Israel, July 15, 2015 /PRNewswire/ --
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), an Israeli-based developer of cannabinoid-based therapies targeting a variety of different indications, is offering new and alternative hope to patients diagnosed with chronic pain. The company's wholly owned subsidiary, One World Cannabis Ltd., has already filed two provisional patent applications with the USPTO related to the development of two unique formulations that include cannabis extracts and a new delivery system to treat fibromyalgia and migraines, and has begun researching and developing new cannabis-based therapies to help alleviate the suffering of patients experiencing enduring pain.
The news comes about after the FDA recently announced to increase existing heart attack and stroke warnings for both over-the-counter and prescription non-aspirin nonsteroidal anti-inflammatory drugs (NSAIDs), which are typically used to treat chronic pain. The cannabis-based novel treatment employed by One World Cannabis could be an alternative to NSAIDs to treat long-lasting pain and fever from many different long- and short-term medical conditions. In addition, the cannabis-based treatment will provide physicians, as well as patients, with the ability to control and administrate optimal dosage, thus offering an alternative to current delivery systems that are not acceptable to scientists and physicians, such as smoking marijuana, edibles and oil extracts with no substantial dosage control.
"Chronic pain represents an emerging public health issue of massive proportions," said Dr. Yehuda Baruch, Director of Research and Regulatory Affairs," In light of the latest FDA calling on NSAIDs makers, One World Cannabis believes that our cannabis-based products and treatments will be an effective and safe alternative to acute and chronic treatment of pain."
Two months ago, One World Cannabis announced the signature of a collaboration agreement with Sheba Academic Medical Center, the largest hospital in Israel and in the Middle East. Within the framework of the agreement, One World Cannabis will initiate pre-clinical and clinical studies to explore the effect of several combinations of cannabidiol (CBD) and tetrahydrocannabinol (THC) on fibromyalgia, to offer patients a novel approach to the issue of chronic pain management.
The clinical study on fibromyalgia is expected to begin in the fourth quarter of 2015 after receiving IRB (Helsinki Committee) approval. The study will be headed by Professor Howard Amital, Internist and Rheumatologist, Head of Department of Internal Medicine B and Research Center for Autoimmune Diseases at Sheba Academic Medical Center. Prof. Amital is an Associate Professor in Chair at the Tel Aviv University's Sackler Faculty of Medicine.
One World Cannabis also plans to start researching the relief of migraine attack symptoms, again by using a formulation comprising, inter alia, a therapeutically effective amount of Tetrahydrocannabinol (THC), Cannabidiol (CBD). The clinical trial, as its protocol is written nowadays, will be conducted by the company in collaboration with another Israeli leading academic medical center.
About One World Cannabis Ltd.
One World Cannabis Ltd. ("the Company") is an Israel-based company founded in 2014 by a group of professionals with expertise in the field of medical cannabis (marijuana) treatment and medical cannabis regulatory affairs. The Company's Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids in the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks. The Company is a wholly owned subsidiary of OWC Pharmaceutical Research Corp. (OTCQB: OWCP).
For more information, visit: http://www.owcpharma.com/
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, filing patent applications, product development, and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in OWC Pharmaceutical Research Corp. (OTCQB: OWCP) periodic reports filed from time-to-time with the Securities and Exchange Commission.
Ziv Turner, Chief Executive Officer - One World Cannabis Ltd.
SOURCE OWC Pharmaceutical Research Corp.