Innocan lifts 12.5 m. NIS. develop CBD-based COVID-19 treatment

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Innocan Pharma Corp., which trades on the CSE Canadian Stock Exchange, has concluded that CS$5.1 million (approximately NIS12.5 million) has been raised from investors in Israel, Europe and Canada to fund their ongoing joint research with Tel Aviv University (TAU) as part of a possible treatment for COVID-19.”We are delighted to see the public’s expression of increased confidence in the company.” Innocan CEO Iris Bincovich said following the announcement.

In April, InnoCan Pharma Corporation announced that its wholly-owned subsidiary, InnoCan Pharma Ltd. of Herzliya Israel, had entered into a sponsored research agreement with Ramot at TAU to develop a revolutionary new approach to treating COVID-19 using cannabidiol (CBD) loaded exosomes (“CLX”).

At the same time, research was conducted in collaboration with the Hebrew University on the loading of liposomes with CBD, which would allow a controlled application of CBD by injection.

In May, the Rambam health care campus in Haifa announced that it had planned clinical trials in the coming months to see if cannabis could be useful in the treatment of patients with critically ill coronavirus.

Platforms have been developed to treat a variety of diseases. In the case of coronavirus, they work to facilitate the inflammatory process and contribute to the recovery of infected lung cells

According to the researchers, when the cellular healing properties of exosomes are combined with the anti-inflammatory properties of CBD, exosomes can act as “tracking missiles” for VOCIDE-19, which specifically target inflammation and cellular damage.

Exosomes also play an important role in cellular communication, which may be beneficial for additional treatments for CNS indications such as epilepsy and Alzheimer’s disease.

Professor Dani Offen, who leads TAU’s research team, said: “I am pleased to be working with the InnoCan team on this exciting CLX development project. We are facing a difficult time, and I believe our unique approach holds a promise to offer treatment for COVID-19, pneumonia and possibly for other lung inflammation as well.

Innocan was founded by a group of entrepreneurs including CEO Iris Bincovich, Ron Miron, former CEO of Teva Israel, Nir Abraham, one of the oldest drug formulators in Israel, a former member of the innovation team Frigo and Yoram Drucker, Ploristim and BrainStorm .



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