TORONTO, ON / ACCESSWIRE / March 16, 2015 / Following on its recent announcement of plans to enter the medical marijuana sector with a large development in Owen Sound, Ontario, The Canadian Bioceutical Corporation's (TSXV:BCC) wholly-owned subsidiary BioCannabis Products Ltd., is pleased to announce that it has entered into an agreement with the Tel Aviv-based Cannabliss Ltd.
The terms of the Agreement call for the two companies to cooperate and collaborate in the conception, research, development and production of cannabis-related medicinal products and technologies with the eventual goal of consummating licensing and distribution agreements for the Canadian medical marijuana market.
"Cannabliss is a leader in the development of medical marijuana delivery technologies and is a great fit for our company's plan to focus on non-traditional methods of providing cannabanoid-based medicines to patients," comments Michael Arnkvarn, Canadian Bioceutical's Chief Marketing Officer. "With an ammendment to the regulations expected from Health Canada late this summer which will permit the production and sale of cannabis-infused products, we hope to specialize in the development and production of multiple delivery methodologies including capsules, tinctures, oils, topicals etc. with varying ratios of tetrahydrocannabinol and cannabadiol and many of the 400 other medicinal compounds found in cannabis."
Israel is a global research leader in the use of cannabis to treat a wide variety of chronic conditions and continues to be at the forefront in the research, development and application of medical marijuana products and technologies.
About Cannabliss Ltd.
Cannabliss Ltd.is a leading Israeli company specialized in development, manufacturing and marketing of high-end standardized medical cannabis-based products.The company has been operating under a license from the Israeli Ministry of Health since 2009. Its product portfolio includes standardized oils, creams, suppositories and capsules, both THC and CBD based. The products are manufactured at various degrees of potency in order to meet the specific needs, ages, and medical conditions of the various patients. Many other unique cannabis formulations are currently under development.
Each of Cannabliss' medicinals undergoes rigorous testing and is supplied to authorized patients holding Ministry of Health permits. Prof. Reuven Or is the Head of the Medical Consultancy Department at the company and is also the Director of the Bone Marrow Transplant Department at Hadassah Ein Karem Hospital.
Cannabliss closely cooperates with Jerusalem's Hadassah Ein Karem Hospital, operating as a unique distribution department within the hospital itself. Furthermore, Cannabliss cooperates with leading physicians practicing in several hospitals in Israel.
Clinical studies are being performed by Cannabliss in several hospitals focussed on the use of cannabinoids to aid in the relief of the side effects experienced by cancer patients undergoing chemotherapy as well as for decreasing symptoms associated with dementia.
About The Canadian Bioceutical Corporation
BCC, formerly Allegiance Equity Corporation, is an Ontario corporation that, for over two decades has been developing unique standardized mass-market nutraceutical products for the treatment of common ailments where present pharmaceutical treatments and Over-the-Counter (OTC) products fail to meet the needs of patients. BCC has targeted markets having clearly identified product deficiencies and dissatisfied consumers afflicted with a variety of medical conditions. BCC obtains regulatory approval and patents for these unique compounds and formulations and may produce and distribute or license its products for royalty revenues.
BCC's principal brands are CinG-X(TM) and Relieva(TM) and the company, through its subsidiary BioCannabis Products Ltd., and subsequent to receiving its MMPR license from Health Canada, will be launching a series of cannabis-based branded medicinal products to address this rapidly-evolving market.
Additional details in relation to BCC's plan to enter into the medical marijuana sector may be found in the company's two News Releases of January 7, 2015.