JERUSALEM, May 1, 2019 /PRNewswire/ -- Yissum, the technology transfer company of The Hebrew University of Jerusalem, is hosting a first-of-its kind conference to drive academic-industry collaboration across multiple cannabis-related research and development areas. Hebrew University is the leading academic institution world-wide in cannabis related patents. Its trailblazing Multidisciplinary Center for Cannabinoid Research supports over 30 labs dedicated to cannabis-tech, covering related agricultural technologies, formulation and manufacturing methods, novel therapeutics and combination treatments.
The one-day conference will bring Hebrew University researchers and industry professionals together to focus on furthering cannabis research for future commercialization. By some estimates, the global cannabis market is thought to be worth USD$150 billion today with predicted growth reaching USD$272 billion by 2028 and legal worldwide spending hitting $70 billion.
"With the explosive growth in the cannabis industry comes a need for creating sustainable, differentiated value propositions for leading corporations," said Dr. Yaron Daniely, CEO and President of Yissum. "Hebrew University continues to be the leading academic institution worldwide that is producing high level and truly groundbreaking research that both meets and drives these demands."
Just this March, Weed Inc. announced a multi-million dollar licensing agreement with Yissum based on the research results of Hebrew University's Prof. Elka Touitou.
During the event on May 1, Yissum will also honor Hebrew University Professor Raphael Mechoulam for his achievements in advancing collaboration between academia and the medical cannabis industry. Professor Mechoulam's instrumental discoveries over the last five decades paved the way for much of today's research in the field.
Itzik Ozer, Director of Business Development, Jerusalem Development Authority said, "The Jerusalem Development Authority, which works to promote the biotech sector in the city through Jnext and Bio Jerusalem, sees cannabis as an industry with huge potential for creating jobs and attracting Israeli and international companies to the city. As part of our program, biotech companies and new cannabis companies arriving in Jerusalem will be entitled to entry grants of NIS 100,000 for each employee and up to NIS 4 million to the company. Hebrew University is a major partner in the development of the city's cannabis market, furthering the development of new technologies and strengthening the biotech and cannabis ecosystem in Jerusalem."
"Industry Meets Innovation: Cannabis Research and Development" is organized by Yissum, and sponsored by the Jerusalem Development Authority, Geyra Gassner Kesten IP Law and Bona Vida, an American veterinary company that has partnered with Yissum to identify new research projects at Hebrew University involving veterinary CBD use.
Yissum is the technology transfer company of The Hebrew University of Jerusalem. Founded in 1964, it is the third company of its kind to be established and serves as a bridge between cutting-edge academic research and a global community of entrepreneurs, investors, and industry. Yissum's mission is to benefit society by converting extraordinary innovations and transformational technologies into commercial solutions that address our most urgent global challenges. Yissum has registered over 10,000 patents covering 2,800 inventions; licensed over 900 technologies and has spun out more than 176 companies. Yissum's business partners span the globe and include companies such as Boston Scientific, Google, ICL, Intel, Johnson & Johnson, Merck, Microsoft, Novartis and many more. For further information please visit www.yissum.co.il