Herzeliya, Israel and Calgary, Alberta--(Newsfile Corp. - April 17, 2020) - InnoCan Pharma Corporation (CSE: INNO) ("InnoCan" or the "Company") announced that its wholly-owned subsidiary, InnoCan Pharma Ltd. of Herzliya Israel, has entered into a sponsored research agreement dated April 17, 2020 (the "Research Agreement") with Ramot at Tel Aviv University ("Ramot") to collaborate with Tel Aviv university to develop a novel, revolutionary approach to treat COVID-19 by using Cannabidiol (CBD) loaded Exosomes ("ICLX").
Under the terms of the Research Agreement, InnoCan and a team led by Prof. Daniel Offen, a leading researcher specializing in Neuroscience and Exosome technology at Tel Aviv University, will collaborate to develop the cell therapy product, based on Prof. Offen's work in the field. Innocan has agreed to fund the research based on agreed milestones, in the aggregate amount of approximately US $450,000 for the first stage.
InnoCan and Ramot are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the Covid-19 Corona Virus. CBD-Loaded Exosomes 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.
Exosomes are small particles created when stem cells are multiplied. Exosomes can act as "homing missiles", targeting specific damaged organs and have an important role in cell-to-cell communication. When the cell healing properties of the exosomes are combined with the anti-inflammatory properties of CBD, it is expected to reach high synergetic effect. The research results may be beneficial to additional treatments for Central Nerve System ( CNS ) indications such as epilepsy and Alzheimer's Disease.
The Research Agreement also gives InnoCan Pharma the exclusive option to receive an exclusive worldwide royalty-bearing license to Ramot's background technology and the research results to allow InnoCan to develop and manufacture ICLX for the treatment of COVID-19 and potentially for other types of lung inflammations and additional respiratory related illnesses. Once InnoCan Pharma provides notice of intent to exercise the option, InnoCan Pharma and Ramot have agreed to negotiate the license agreement in good faith according to predefined commercial terms annexed to the Research Agreement.
The world is suffering from a rapid rise in illness due to the fast growing spread of the COVID-19 pandemic. The lungs are the organ most affected by COVID-19, causing pneumonia that rapidly progresses to acute respiratory distress syndrome and can further result in respiratory failure, septic shock, or multi-organ failure, and in the most severe cases death.
Recent in-vivo and in-vitro studies have demonstrated that exosomes derived from mesenchymal stem cells (MSC) can promote regeneration and improve immune reaction processes in damaged tissues. Exosomes contain anti-inflammatory agents that can target inflamed organs. Prof. Offen and his team have already successfully loaded exosomes with various molecules. They have also succeeded in treating different tissue injuries in animal models, while significantly reducing inflammation and pathological impairment. To date, there have been hundreds of publications and several clinical studies using exosomes globally, demonstrating their therapeutic potential at different applications.
Animal studies have also demonstrated CBD as effective in reducing lung inflammation. Based on these findings and the capability of attaching molecules to Exosomes as was shown at Prof. Offen studies, InnoCan believes that its ICLX therapy has the potential to treat the COVID-19 virus by combining CBD with exosomes, thereby creating therapeutic synergies. The suggested combination may have strong synergetic effects, thereby increasing the potential efficacy of planned treatments.
Prof. Dani Offen, of the Sackler School of Medicine, Sagol School of Neuroscience at Tel Aviv University, said, "I am pleased to work with the InnoCan team on this exciting ICLX development project. We are facing a challenging time, and I believe our unique approach holds a promise to offer a treatment for COVID-19, pneumonia and perhaps for other lung inflammations as well."
Iris Bincovich, CEO of InnoCan's CEO, also commented, "COVID-19 has quickly become one of the largest challenges in healthcare today. With the development of ICLX, we are creating a new treatment, to join the global mission to combat the effects of COVID-19. We are determined to make a difference as quickly as possible to assist patients worldwide."
Keren Primor Cohen, CEO of Ramot at Tel Aviv University, summarized, "We hope that this collaboration with Innocan Pharma will assist in transforming Prof. Offen's promising technology into a real treatment for the global threat of COVID-19."
The Company is not making any express or implied claims that the research to be conducted under the Research Agreement will be successful or that any products developed from the research will have the ability to eliminate, cure, treat or contain the Covid-19 Coronavirus or other lung conditions.
Innocan Pharma has also been approved for listing on the Frankfurt Stock Exchange (FSE) under the trading symbol: FRA: IP4.
About InnoCan Pharma Corporation
The Company, through its wholly-owned subsidiary, Innocan Pharma Ltd. ("Innocan Pharma Israel"), is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol ("CBD"). The Company signed on a worldwide exclusive license agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem to develop CBD drug delivery platform based on a unique-controlled release Liposome to be administrated by Injection. The company planes, together with Prof. Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University to test the Liposome platform on several potential indications. -The company is also working on dermal product integrating CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals. include, but are 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.
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For InnoCan Pharma Corporation:
Iris Bincovich, CEO