InnoCan Pharma Corporation (CSE:INNO) has been on a roll in its first five months as a public company as it has unveiled a clutch of advances on the research and development front in preparation for its entrance in the commercial market.
“We are successfully executing our business plan and, in some ways, are ahead of schedule,” said Iris Bincovich, InnoCan’s CEO.
On its list of achievements is the lodging of a new patent application filed, which is based on a liposome platform loaded with cannabinoids and which came about thanks to research by Professor Chezi Barenholz from Hebrew University of Jerusalem, funded by the company.
The company, based in Israel, is developing a platform that enables the controlled release of CBD using injections of liposomes, a vesicle that can be used as a vehicle to administer nutrients and drugs with a structure that resembles cell membranes.
Innocan has also acted on its option to win a global license to market productions which will be developed based on the research technology developed with Hebrew University.
In other news, InnoCan Israel recently signed a manufacturing agreement for its cannabidiol line of products with FANCYSTAGE UNIPESSOAL LDA of Portugal and sales are expected in March of 2020.
Also on the agenda is the signing last November of a manufacturing agreement by Innocan Israel for cosmetic products and over-the-counter pharmaceutical products with Biogenesis in the US. The first products and sales are expected in April 2020.
The company’s tech is on a tear after the first successful laboratory test results were unveiled for its flagship cannabidiol (CBD) loaded liposomal platform technology, which was developed as part of a research agreement with Yissum Research and Development.
The tests for the CBD-loaded liposomes were performed over a number of months by Professor Chezy Barenholz, head of the membrane and liposome research lab with the Hebrew University Hadassah Medical School and the head researcher and supervisor under the Yissum agreement. That early research has already entered the next phase of testing.
“We are now manufacturing and introducing innovative new CBD-based products into some of the world’s largest consumer markets,” added Bincovich.
In two final points, InnoCan widened its reach in the UK and Ireland with the signing of a distribution agreement with Active Therapeutics of Lancashire in the UK to distribute its CBD-based derma cosmetics products.
Last month, Peter Bloch also joined the company’s board of directors, replacing Daryl Fridhandler. Currently the CEO of Bresotec, a company specializing in treating sleep apnea, Bloch has also held senior management jobs with Sanofi-Aventis Canada, Gennum Corporation and Tribute Pharmaceuticals.