$2 Million going to cannabis cancer research in Israel

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A cannabis-based treatment for cancer may finally be on the horizon, thanks to the research of none-other-than Professor Raphael Mechoulam.

Mechoulam is leading a research team to work on developing cannabis-based treatments for three aggressive forms of cancer: melanoma (skin cancer), neuroblastoma (cancer originating in the surrounding and mostly neural system in children), and glaublastoma (brain cancer).

The ongoing research will be funded by Tel Aviv-listed cannabis producer Cannbit, who will invest an initial $400,000 towards the cannabis research, and an additional $2,000,000 for a commercial medicine license. Former Israeli Air Force commander Eitan Ben Eliyahu is the chairman of Cannbit and Mechoulam is currently operating as head of Cannbit’s scientific advisory committee.

In exchange, Cannbit will receive rights to sell this medicine for the duration of its patent – 25 years. The rest of the partners will get 13% from all future revenue from the research and the sale of the medicine, as well as any future intellectual property stemming from this research.

The Hebrew University’s technology transfer company, Yissum, owns the IP for the results of the preliminary study. Ownership will eventually be transferred to Cannbit for the duration of the patent. Hadassah University Hospital-Ein Kerem and Sheba Medical Center will also collaborate on the study.

Mechoulam, a professor of medicinal chemistry at Hebrew University, is known as the father of medical cannabis since discovering endocannabinoids and phytocannabinoids back in 1964. He and his research group were the first to isolate the major plant cannabinoids tetrahydrocannabinol, cannabidiol, cannabigerol and many others.

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