$OWCP: For those not familiar with the compan
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Posted On: 03/22/2017 9:44:20 PM
$OWCP:
For those not familiar with the company and looking for a fresh exposure, OWCP, through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines.
OWCP is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. All OWCP research is conducted at leading Israeli hospitals and scientific institutions, and led by internationally renowned investigators.
The Company’s Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.
The latest news concerns its topical psoriasis cream. Last October, OWCP announced that it was in the final phase of pre-clinical efficacy testing for its topical psoriasis cream and also announced a parallel test to assess the efficacy of the formulation in treating psoriasis in human skin tissue. The recent results are highly promising, showing significant reduction of several inflammation markers specific to psoriasis. The next step is an operating plan to conduct double-blind efficacy tests on other skin disorders and conditions. Chairman & CEO Mordechai Bignitz said:
“Immediately after we announced our cannabinoid-based formulation for our psoriasis treatment, we began receiving requests for the topical psoriasis cream from patients who had been long-time sufferers from the condition. We are very pleased to say that OWC is expecting the topical cream product readiness during 2017 Q2 and, subject to positive completion of our safety IRB approved study and obtaining regulatory approvals from applicable jurisdictions, we should be able to offer our topical cream to those who suffer from psoriasis in the near term.”
Psoriasis has huge market potential for OWCP. It 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. Skin cells in patients with psoriasis grow at an abnormally fast rate, causing a buildup of lesions that tend to burn and itch. While the real cause of psoriasis is not known, genetics are believed to play a major role in its development. According to the National Psoriasis Foundation, psoriasis affects 7.5 million people in the United States.
Last month, OWCP received Institutional Review Board (IRB) approval to conduct safety testing on its proprietary topical crème compound for the treatment of psoriasis and related skin conditions. The approval follows the Company’s February 1, 2017 8K filing announcing an extension to the size and scope of its efficacy study on the same compound, which began in November 2106.
The IRB approved study encompasses the cream itself, as a delivery mechanism, as well as the proprietary psoriasis formulation, and is the first to formally make such claims with the NIH Registry. The double-blind study, which will be conducted on healthy volunteers at one of Israel’s leading academic hospitals, is designed to demonstrate the safety of the formulation in treating psoriasis on human skin tissue. Administrators began soliciting for study participants as soon as approval was received.
For those not familiar with the company and looking for a fresh exposure, OWCP, through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines.
OWCP is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. All OWCP research is conducted at leading Israeli hospitals and scientific institutions, and led by internationally renowned investigators.
The Company’s Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.
The latest news concerns its topical psoriasis cream. Last October, OWCP announced that it was in the final phase of pre-clinical efficacy testing for its topical psoriasis cream and also announced a parallel test to assess the efficacy of the formulation in treating psoriasis in human skin tissue. The recent results are highly promising, showing significant reduction of several inflammation markers specific to psoriasis. The next step is an operating plan to conduct double-blind efficacy tests on other skin disorders and conditions. Chairman & CEO Mordechai Bignitz said:
“Immediately after we announced our cannabinoid-based formulation for our psoriasis treatment, we began receiving requests for the topical psoriasis cream from patients who had been long-time sufferers from the condition. We are very pleased to say that OWC is expecting the topical cream product readiness during 2017 Q2 and, subject to positive completion of our safety IRB approved study and obtaining regulatory approvals from applicable jurisdictions, we should be able to offer our topical cream to those who suffer from psoriasis in the near term.”
Psoriasis has huge market potential for OWCP. It 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. Skin cells in patients with psoriasis grow at an abnormally fast rate, causing a buildup of lesions that tend to burn and itch. While the real cause of psoriasis is not known, genetics are believed to play a major role in its development. According to the National Psoriasis Foundation, psoriasis affects 7.5 million people in the United States.
Last month, OWCP received Institutional Review Board (IRB) approval to conduct safety testing on its proprietary topical crème compound for the treatment of psoriasis and related skin conditions. The approval follows the Company’s February 1, 2017 8K filing announcing an extension to the size and scope of its efficacy study on the same compound, which began in November 2106.
The IRB approved study encompasses the cream itself, as a delivery mechanism, as well as the proprietary psoriasis formulation, and is the first to formally make such claims with the NIH Registry. The double-blind study, which will be conducted on healthy volunteers at one of Israel’s leading academic hospitals, is designed to demonstrate the safety of the formulation in treating psoriasis on human skin tissue. Administrators began soliciting for study participants as soon as approval was received.
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