- InnoCan Pharma (CSE:INNO) intends to establish a distribution agreement with Tamar Innovest, a subsidiary of Tamar Technologies
- After the companies formalise the agreement, Tamar will distribute naturally sourced CBD to InnoCan’s current Israeli collaborators
- InnoCan and its collaborators will use the CBD to progress the Tel Aviv and Yissum research and development projects
- Tamar and InnoCan will formalise and sign the agreement within 120 days
- InnoCan Pharma (INNO) is up 6.67 per cent and is currently trading at C$0.16 per share
InnoCan Pharma (CSE:INNO) intends to establish a distribution agreement with Tamar Innovest, a subsidiary of Tamar Technologies.
Once the companies formalise their agreement, Tamar will distribute naturally sourced CBD to Ramot and Yissum, two of InnoCan’s Israeli collaborators.
InnoCan and its collaborators will use the CBD to progress its Tel Aviv and Yissum projects.
Tamar Innovest owns roughly 34.89 million common shares in InnoCan. This represents approximately 20 per cent of common shares in InnoCan, making Tamar a major shareholder in the company.
InnoCan and Ramot at Tel Aviv University are working together to develop exosome-based technology for medical applications. In particular, the goal is for the exosomes to target central nervous system indications, and the COVID-19 pandemic.
InnoCan’s Israeli subsidiary has an exclusive research and license agreement with Yissum Research and Development Company. Yissum is the commercial arm of the Hebrew University of Jerusalem.
The Yissum project is working to develop a CBD drug delivery platform, based on a controlled release liposome injection.
InnoCan also has another research and development project, focused on developing a variety of CBD-integrated pharmaceuticals.
Tamar’s CEO, Ralph Bossino, expressed excitement about InnoCan’s research and development projects, especially Tel Aviv and Yissum.
“InnoCan and Tamar continue to leverage synergies between our respective companies for mutual benefit, which is precisely what the parties envisaged at the time that we entered into our commercial relationship last year.
“We are pleased to work towards making that available to InnoCan in support of the development of the InnoCan R&D projects,” he said.
InnoCan and Tamar must formalise and sign the agreement for CBD distribution within 120 days.
InnoCan Pharma (INNO) is up 6.67 per cent and trading at $0.16 per share at 12:16pm EDT.