Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a leader in cannabinoid diagnostics for the personalized treatment of cancer, today announced the receipt of a Notice of Allowance from The Patent Office of the State of Israel. The Patent Office intends to grant Cannabics the patent for its method of high throughput screening of cancer cells. The patent encompasses the technology required to produce data on the interaction between different cannabinoids and cancer cells. The high throughput screening tests the effects of a multitude of compounds derived from the cannabis plant on cancer cell lines and biopsies.
“Our aim is to build the intellectual property necessary to personalize cannabinoid diagnostics and treatment for cancer patients,” said Dr. Eyal Ballan, Cannabics co-founder and chief technology officer. “We are compiling data that demonstrates that cannabinoids are not only effective in treating the symptoms of cancer and its therapies, but also in fighting the cancer itself. The patent from the State of Israel is an important step towards leveraging the necessary technology to bring underutilized cannabinoids into mainstream medicine.”
Data compiled from the patented technology will provide valuable insight into personalized treatments for cancer patients and will support the discovery of new, active pharmaceutical ingredients for specific cancers. Ultimately, the data could allow practitioners to precisely tailor cannabinoid therapies to an individual patient’s profile and type of cancer.
Over $100 million was invested in licensing Israeli medical marijuana patents over the past two years, and the global market for medical marijuana is estimated to reach $50 billion by 2025. Cannabics anticipates this significant patent will be the first in a family of patents granted in additional countries and territories, including the United States, Australia, Brazil, Canada, China, Europe, Japan, Mexico, and South Africa.
About Cannabics Pharmaceuticals
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a United States-based public company that is developing cannabinoid diagnostic tests for the personalized treatment of cancer. Cannabics is developing a blood test that Fallows practitioners to precisely tailor medical cannabinoid-based therapies to an individual patient’s profile and cancer. Cannabics’ approach can also be used to develop cannabinoid-based therapies as preventive or primary cancer treatments – not just palliative, the way it’s being used now. By developing tools to assess effectiveness on a personalized basis, Cannabics is helping to move medical cannabinoids into the mainstream of cancer therapies.
The company’s R&D is based in Israel, where it is licensed to conduct scientific and clinical research on harnessing the therapeutic properties of cannabinoid formulations.
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