OWC Pharmaceutical Research Corp (OWCP)

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,...To date, OWC has signed three research collaboration and license agreements as well as service agreements with Sheba Academic Medical Center, Tel Hashomer, Israel (“Sheba”), with respect to two potential indications.

Sheba is a university-affiliated hospital that serves as Israel’s national medical center and the most comprehensive medical center in the Middle East. Within the framework of the abovementioned agreements with Sheba, as well as other potentially negotiated agreements, OWC intends to initiate two studies at the Sheba facilities to explore the effect of two formulations, all based on active ingredients in the cannabis extracts, on multiple myeloma and psoriasis.

Pursuant to the above-mentioned research agreement in connection with the psoriasis indication, the Medical Research Infrastructure Development and Health Services of the Chaim Sheba Center (the “Fund”) shall perform a Phase I, randomized, placebo-controlled, maximal dose study (the “Study”) to determine the safety and tolerability of topical cream containing MGC (“Medical Grade Cannabis” or the “Study Drug”) in healthy volunteers.

Dr. Aviv Barzilay, Director of the Department of Dermatology at the Chaim Sheba Medical Center will lead the Study (the “Investigator”).

The Study as defined in the Research Agreement, shall be conducted in compliance with the following: (1) the Protocol; (2) the Ministry Guidelines; (3) the instructions and terms specified in the Helsinki Committee’s approval; (4) the ICH-GCP; (5) the Helsinki Declarations; (6) the applicable laws, rules and regulations regulating such studies which are applicable in Israel (the “Applicable Laws”); and (7) written instructions and prescriptions issued by the OWC and governing the administration of the Study Drug.

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