ISRAEL: The Greater Cannabis Company, a biopharmaceutical company focused on development and commercialization of innovative delivery systems for the Cannabis market, has entered into a letter of intent with iCAN Cannabis to expand distribution of its eluting patch platform into key global markets. The eluting patch platform is an innovative delivery system, which uses a patented mucoadhesive and multilayered orally dissolving thin film to deliver a precise dose of cannabinoids into the body through the buccal mucosa. Clinical studies funded in part by the National Institutes of Health (NIH) have shown the delivery system’s capability in achieving higher bioavailability and desired results in the body using lower, and controlled, dosing when compared to other routes of administration.
The agreement with iCAN will include commercial ready formulations to meet medical and recreational market demands. Distribution and marketing rights for iCAN will include Israel, Australia, South Africa, Netherlands, South Africa, Mexico, Colombia, Panama, Germany, Austria, Switzerland, Malta, Macedonia, and Portuguese territories.
iCAN is a global company focused on the cannabis ecosystem. iCAN operates a global platform for distribution of cannabis products through its iCAN Serve unit with an expansive footprint. iCAN also holds a portfolio of companies including CannRx, an extraction and formulation business and CMTREX, a commodities trading platform for the cannabis industry, CannaTech, the leading producers of global cannabis conferences focused on research, science, and innovation, and endoCRO, a contract research organization spearheading therapeutic focused studies.
Industry leader and CEO of iCAN, Saul Kaye, said of the transaction, “I am very excited about the prospect of offering GCAN’s products through our many distribution channels. I have seen many groundbreaking innovations come through our CannaTech conferences, and the eluting patch technology was a platform I was particularly impressed with. I believe this technology can redefine how consumers think about cannabis. From the lower dosage form, to the controlled and slow release mechanisms, and the ability to use it anywhere, I believe the product will resonate really well with consumers and generate rapid traction in the markets we intend to bring it to.”
Aitan Zacharin, CEO of Greater Cannabis said, “I am pleased to announce our partnership with iCAN. Saul is an industry leader who is at the forefront of everything tech in cannabis. His desire to partner with us is a testament to the strength of our technology, and its capabilities. We are excited to establish this important partnership in the medical and adult-use cannabis industry. We are focused on transactions that will accelerate commercialization of our products, and the iCAN deal does that globally. iCAN shares our enthusiasm for seeing healthier, standardized, pharmaceutical-grade, and more cost-effective cannabis products introduced into the market. We look forward to working with iCan to bring our cutting-edge technology to consumers worldwide.”