Medical Cannabis Company Tikun Olam Cannbit has reportedly entered a new partnership with Israel-based femtech company Gynica. Gynica develops cannabinoid-based solutions for women’s health. Tikun Olam-Cannbit announced an “estimated NIS 5 million [approximately $1.5M] agreement for investment in 20% of the shares in Gynica.”
In exchange for the allocated shares, Tikun Olam-Cannbit will provide Gynica with an array of services for development of vaginal suppositories, lubricating gel and additional future products that contain cannabinoids. Additionally, the array of services will include a clinical trial that the company will fund, along with scientific advisory services, provision of raw medical cannabis materials, establishment of a dedicated production line for the clinical trial to produce a vaginal suppository with IMC-GMP certification, to be followed by additional products (subject to approval of the Medical Cannabis Unit) and additional services.
NoCamels reports: “The clinical trials will examine the safety and efficacy of cannabis-based treatments for some of the most painful and persistent gynecological conditions faced by women. The trials, expected in early 2022, will test cannabis-based pharmacology products developed by Gynica, a Jerusalem-based femtech (female technology) startup that believes that the active ingredients in the plant can ease painful conditions in the female reproductive system such as dysmenorrhea, or painful menstruation, and endometriosis.
Prof. Moshe Hod, President of Gynica and President of the ‘European Association of Perinatal Medicine (EAPM), who will lead the trials explains, “This partnership is an important milestone in improving the quality of life of hundreds of thousands of women in Israel and millions of women worldwide who to date have not received a safe and proper solution for the variety of problems and symptoms they experience daily, and there is no doubt that Tikun Olam-Cannbit’s entry into the production and marketing of advanced and clinically proven cannabis-based products marks a breakthrough for gynecology and the industry as a whole.”
Avinoam Sapir, CEO of Tikun Olam-Cannbit, said, “The acquisition agreement for Gynica is part of our strategy to become a cannabis-based pharmaceutical company. We differentiate ourselves by not sufficing with inflorescence and oils, but strive for precise pharmaceutical formulations, with a precise indication that have been proven clinically effective through research. Gynica specializes in scientific and technological medical cannabis innovation for women and is one of the first companies in the world to conduct clinical research on a cannabis-based vaginal product. This is a market with a very strong potential, with markets such as Canada, Australia and the UK, which have a growing demand for these products and regulation that makes it possible”