InnoCan Pharma commences commercial production of its CBD-integrated products in Portugal

CALGARY: InnoCan Pharma Corporation has commenced commercial production of its Derma CBD line in Portugal.

Nir Avram the company’s Chief Technology Officer commented: “The unique patent pending formulation of Relief & Go CBD Spray is comprised of CBD isolate as anti inflammatory, magnesium as muscle relaxants and menthol and camphor as analgesics to provide temporary relief of muscle and joint pain, before and after sports activity. I believe, this is an effective product, which will have success in the market”.

Iris Bincovich, CEO of Innocan Pharma said: “The commencement of the production of Our Derma CBD line is a significant milestone on the way to transforming our company from a Research and Development company to a commercial and revenue generating enterprise. We expect to ship samples and products within 2 weeks to countries UK, Germany, France, US among others. The anticipated sales from our Derma Cosmetic Premium brands, Relieve & Go and Shir Beauty & Science, are expected to result in revenue in the near future”.

The Company, through its wholly owned subsidiary, Innocan Israel, is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”) with other pharmaceutical ingredients. Innocan and Ramot at Tel Aviv University are collaborating on the development of a new exosome-based technology that targets both central nervous system indications and the COVID-19 Coronavirus.

The Company believes that CBD-loaded exosomes may hold the potential to provide a highly synergistic effect of anti-inflammatory properties and help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.

Innocan Israel has entered into a worldwide exclusive research and license agreement with Yissum Research and Development Company, the commercial arm of the Hebrew University of Jerusalem to develop a CBD drug delivery platform based on a unique-controlled release liposome to be administrated by injection.

The Company, together with Prof. Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University, plans to test the liposome platform on several potential indications. The Company is also working on a dermal product integrating CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of InnoCan have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.