“In addition to the investment, the parties will
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Posted On: 03/07/2017 6:53:17 PM
“In addition to the investment, the parties will establish a joint venture, 75% to OWCP and 25% to Michepro Holding Ltd to promote, sell, market and distribute the Company’s potential products in Europe, initially with the psoriasis treatment, to be followed with company’s other therapies as they become available.” The World Health Organization’s 2016 Global Report on Psoriasis states that psoriasis is a serious global problem affecting at least 100 million individuals worldwide.”
The report indicates that “the prevalence of psoriasis ranges from 0.09% in countries with warmer climates to 11.43% in Norway, where a colder climate prevails. The European market for psoriasis is estimated to be 15-20 Million patients.” Mr. Mordechai Bignitz, OWCP’s Chairman and CEO, commented on the announcement, “We are excited to partner with Michepro Holding Ltd. The investment proceeds will be used to accelerate development of several of OWCP’s products and support international marketing activities”.
Mr. Bignitz went on to say: “the recent activity in OWCP stock has given rise to numerous investment proposals, but after reviewing the options
we believe that Michepro Holding Ltd represents the best opportunity for the Company and our shareholders. Their EU business development experience and marketing expertise, as well as their enthusiasm about our future as a company are very encouraging, and it is the perfect follow-up to the agreement with signed with MedMar for the US.”
In the middle of November, OWCP announced that it was submitting the final Psoriasis IRB safety protocol for the Israeli national IRB committee at the Health Minister office.
The psoriasis topical crème infused with active cannabinoids is a unique delivery-system product of OWC designed to be used for skin diseases, where the first application will be tested for safety and efficacy for Psoriasis. The efficacy studies have already been started and results are expected by the end of Jan 2017.
Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression.
Dr. Yehuda Baruch said:
“Best to my knowledge this is the first Cannabis safety study that was submitted to the Israeli IRB national committee to be performed on healthy volunteers. I am also not aware of any other cannabis infused topical crème that was tested for safety, efficacy and bio-availability with approved IRB. That makes our products unique and valuable which matches exactly the company’s vision and targets to develop approved, safe and effective active-cannabinoids products for medical treatments.”
Besides the cream, OWCP has also completed the development of a proprietary, cannabinoid-enriched sublingual tablet for the administration of medical cannabis. The technology behind the Tablet is protected and provides for the ingestion of virtually any dosage of medical cannabis with a sublingual delivery mechanism, whereby the compounds are absorbed directly into the patient’s blood through oral epithelial tissue. The Tablet also enables physicians to safely and accurately monitor the dosage and treatment of each individual patient, something that is essentially impossible to do for patients who administer cannabis by smoking.
OWCP is working towards having the Tablet approved by the Israeli Medicinal Cannabis Unit under the Ministry of Health office for use within the country’s sanctioned medical cannabis program, as well as talking with potential licensees of the technology in the United States. Longer term, management expects to establish clinical tests of the Tablet in protocols for Multiple Myeloma, Post-Traumatic Stress Disorder (PTSD), and Fibromyalgia.
The report indicates that “the prevalence of psoriasis ranges from 0.09% in countries with warmer climates to 11.43% in Norway, where a colder climate prevails. The European market for psoriasis is estimated to be 15-20 Million patients.” Mr. Mordechai Bignitz, OWCP’s Chairman and CEO, commented on the announcement, “We are excited to partner with Michepro Holding Ltd. The investment proceeds will be used to accelerate development of several of OWCP’s products and support international marketing activities”.
Mr. Bignitz went on to say: “the recent activity in OWCP stock has given rise to numerous investment proposals, but after reviewing the options
we believe that Michepro Holding Ltd represents the best opportunity for the Company and our shareholders. Their EU business development experience and marketing expertise, as well as their enthusiasm about our future as a company are very encouraging, and it is the perfect follow-up to the agreement with signed with MedMar for the US.”
In the middle of November, OWCP announced that it was submitting the final Psoriasis IRB safety protocol for the Israeli national IRB committee at the Health Minister office.
The psoriasis topical crème infused with active cannabinoids is a unique delivery-system product of OWC designed to be used for skin diseases, where the first application will be tested for safety and efficacy for Psoriasis. The efficacy studies have already been started and results are expected by the end of Jan 2017.
Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression.
Dr. Yehuda Baruch said:
“Best to my knowledge this is the first Cannabis safety study that was submitted to the Israeli IRB national committee to be performed on healthy volunteers. I am also not aware of any other cannabis infused topical crème that was tested for safety, efficacy and bio-availability with approved IRB. That makes our products unique and valuable which matches exactly the company’s vision and targets to develop approved, safe and effective active-cannabinoids products for medical treatments.”
Besides the cream, OWCP has also completed the development of a proprietary, cannabinoid-enriched sublingual tablet for the administration of medical cannabis. The technology behind the Tablet is protected and provides for the ingestion of virtually any dosage of medical cannabis with a sublingual delivery mechanism, whereby the compounds are absorbed directly into the patient’s blood through oral epithelial tissue. The Tablet also enables physicians to safely and accurately monitor the dosage and treatment of each individual patient, something that is essentially impossible to do for patients who administer cannabis by smoking.
OWCP is working towards having the Tablet approved by the Israeli Medicinal Cannabis Unit under the Ministry of Health office for use within the country’s sanctioned medical cannabis program, as well as talking with potential licensees of the technology in the United States. Longer term, management expects to establish clinical tests of the Tablet in protocols for Multiple Myeloma, Post-Traumatic Stress Disorder (PTSD), and Fibromyalgia.
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