Medical grade cannabis products developer Canonic Ltd. and a subsidiary of Evogene Ltd. EVGN EVGN, has shipped the first batch of its unique cannabis varieties to Portugal, following approval to export from the Israeli Ministry of Health and Ministry of Agriculture.
As part of its preparations for the planned 2023 commercial launch in Europe, Canonic expects to enter commercial agreements with local growers and manufacturers and will work to obtain required regulatory approvals. To this end, the varieties shipped are intended to be grown on a semi-commercial scale for lab testing and regulatory examinations, as required by European regulation.
Recently, Canonic reported positive results in pre-clinical studies in inflammatory and pain model systems. The study was conducted in Israel's Hadassah Medical Center and the Migal - Galilee Research Institute in Kiryat Shmona.
The results confirmed the identification of specific cannabis varieties with heightened anti-inflammatory and pain relief properties for Canonic's medical cannabis Precise product line and have led to a patent application filing.
More recent news from Evogene:
Evogene's Canonic Launches First Two Medical Cannabis Products In Israel Ahead Of Schedule
Canonic Announces Pre-Launch of Medical Cannabis Products in Israel
Price Action
Evogene shares traded 3.10% higher at $1.33 per share during Monday’s pre-market session.
Photo: Courtesy of Avery Meeker on Unsplash
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