Canonic Ltd, a company focused on the development of medical cannabis products and a wholly-owned subsidiary of Evogene Ltd. EVGN EVGN, announced today the pre-launch of its first-generation medical cannabis inflorescence products, reported PRNewswire.
Canonic is a subsidiary of Evogene Ltd. EVGNEVGN) developing medical Cannabis products through a Computational Predictive Biology (CPB) platform, aimed at improving active compounds yield, genetic stability and, Cannabis varieties. The company has exclusive access to Evogene's genomic assets and technology for the development of medical Cannabis products.
Evogene's Canonic obtained approval from the Israel Medical Cannabis Agency to proceed with commercializing medical cannabis products in November 2020.
Canonic's first product line, G-nnovation, is based on cannabis varieties that were selected and developed to express high levels of THC.
As part of the pre-launch, G-nnovation products will be marketed in Israel through Telepharma pharmacy.
Ofer Haviv, chairman of Canonic, CEO and president of Evogene, stated: "I am pleased to see that within a very short time, Canonic has built an impressive operation, which we expect will come into full fruition in 2022 with first commercial-scale sales of medical cannabis in Israel.”
According to recent statistics, the medical cannabis market in Israel is estimated at $260 million per year.
Image courtesy of Richard T./Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.