Everything is coming up green in Israel. At least that’s how it seems in the medical cannabis space. We’ve recently interviewed Dr. Alan Shackelford (Charlotte’s Web) then there is Canna Tech next week. Just in: Yissum, the technology transfer company of the Hebrew University of Jerusalem, just announced that it will work with PhytoTech Medical of Australia on cannabidiol (CBD) and THC, the active ingredients in cannabis, for the treatment of a variety of medical indications.
The novel formulations are based on oral and transbuccal delivery technologies developed by Professors Abraham Domb and Amnon Hoffman from the Institute of Drug Research, School of Pharmacy, Faculty of Medicine, at the Hebrew University of Jerusalem.
Last week on January 22, 2015, PhytoTech Medical became the first medical marijuana company on the Australian Securities Exchange (ASX). The company raised about US$4.7 million at a share price of $0.20 per share. The offer was significantly oversubscribed, demonstrating the high level of demand in the market to invest in MC stocks and the calibre of the offering by PhytoTech.
Cannabis based medications are currently in clinical use worldwide. The most known formulation is Sativex, a sublingual spray delivering CBD and THC. You can read about the problems with Sativex on our LaraPharm interview.
PhytoTech will develop an improved, oral capsule formulation and transbuccal delivery system that consists of a flexible, muco-adhesive patch that will release the active ingredients of cannabis in a controlled manner.
Yaacov Michlin, CEO of Yissum, said: “We are very pleased to collaborate with PhytoTech in developing the inventions of Professors Domb and Hoffman for the purpose of delivering the active components in cannabis.
“Medical cannabis is increasingly being used for a variety of indications, such as reducing nausea during chemotherapy and relieving pain and muscle spasticity in MS patients. Development of state-of-the-art delivery systems for the active ingredients will undoubtedly pave the way for a wider variety of clinical indications for these types of drugs.”
Boaz Wachtel from PhytoTech says:“We are happy to collaborate with Yissum in developing this novel delivery platform for THC and CBD.We believe that Yissum’s novel transbuccal delivery method is particularly appropriate for the delivery of these agents, and helps avoid problems such as lack of standardization of drug concentration, and health risks stemming from more traditional ways of absorbing cannabis, such as smoking.”
Image of THC molecule from Shutterstock