ISRAEL: The Directors of Ananda Developments have announced that investee company iCAN has signed an MoU with a new Israeli Medical Cannabis company Yom Chai to develop and clinically validate cannabis based treatments for Crohn’s Disease, Autism and other neurodevelopmental, neurodegenerative and gastrointestinal diseases.
Yom Chai has deep experience in the international medical cannabis market opening and running dispensaries and production facilities as well as providing consulting services to a wide range of cannabis businesses.
Yom Chai, in collaboration with leading American and Israeli scientists and medical professionals is initially developing a formulated suppository targeting people suffering from Crohn’s Disease and will develop various targeted cannabis formulations including treatment for children and adults with Autism.
iCAN will be supporting Yom Chai by combining its unique access to innovation and technology with unmatched industry insights and international connections. The signing of this MoU provides iCAN with a combination of revenue, equity and future royalties.