Followers | 145 |
Posts | 27565 |
Boards Moderated | 3 |
Alias Born | 02/07/2004 |
Tuesday, August 31, 2021 11:43:13 AM
https://finance.yahoo.com/news/canonic-announces-pre-launch-first-110000986.html
Pre-launch of G-nnovation product line to a limited number of patients:
Full commercial launch expected in 2022
REHOVOT, Israel, Aug. 31, 2021 /PRNewswire/ -- Canonic Ltd, a company focused on the development of medical cannabis products and a wholly owned subsidiary of Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), announced today the pre-launch of its first-generation medical cannabis inflorescence products.
Canonic's first product line, G-nnovation, is based on cannabis varieties that were selected and developed to express high levels of THC[1] and premium consumer traits. As part of the pre-launch, G-nnovation products will be marketed in Israel to a limited number of licensed patients through Telepharma pharmacy, with whom Canonic recently engaged. Full commercial product launch in Israel is expected in 2022.
The pre-launch follows the successful completion of selection and development of the first-generation G-nnovation product line under Canonic's Meta Yield product program, the approval of The Israel Medical Cannabis Authority (IMCA) of the product files, and the establishment of commercialization channels. With this, Canonic has completed its end-to-end cannabis value chain in Israel, from seed to product.
According to recent statistics, in July 2021 there were approximately 100,000 licensed patients in Israel that consumed approximately 20 tons of cannabis in the first 6 months of the year[2], with a total medical cannabis market in Israel estimated at $260 million per year[3]. According to industry estimates, based on current growth rates, the Israeli market will reach approximately 250,000 patients by 2025.[4]
Dr. Arnon Heyman, CEO of Canonic stated: "We are very excited to launch our first products in the Israeli market. We achieved this milestone in a very short time due to our experienced team and strong computational biology capabilities. I see this as our first step in fulfilling our vision to become a leading global medical cannabis company. The initial launch in the Israeli market is only the beginning of our journey towards penetration to additional markets abroad."
Mr. Ofer Haviv, Chairman of Canonic and CEO & 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. This milestone was achieved, in part, by using Evogene's platform with its unique computational capabilities in the field of genomics, namely the GeneRator AI tech engine."
About Canonic Ltd.:
Canonic is a subsidiary of Evogene Ltd. (NASDAQ: EVGN, TASE: EVGN), developing medical Cannabis products utilizing a Computational Predictive Biology (CPB) platform. The Company's products in development are aimed at improving active compounds yield, genetic stability and Cannabis varieties for specific medical indications. The Company's strategy includes the development of Cannabis varieties in order to commercialize medical Cannabis products independently or through collaborations. Canonic has exclusive access to Evogene's genomic assets and technology for the development of medical Cannabis products. For more information, please visit: https://www.canonicbio.com/.
Recent EVGN News
- Biomica to Present at the American Society of Clinical Oncology (ASCO) 2024 Annual Meeting • PR Newswire (US) • 04/16/2024 11:00:00 AM
- Biomica to Present at Digestive Disease Week (DDW) Conference 2024 Annual Meeting • PR Newswire (US) • 04/11/2024 11:00:00 AM
- Evogene and The Kitchen FoodTech Hub by Strauss Group Established Finally Foods Ltd. - Revolutionizing Protein Production in Plants for the Food Industry • PR Newswire (US) • 04/02/2024 11:00:00 AM
- Evogene Announces Filing of Annual Report on Form 20-F • PR Newswire (US) • 03/28/2024 01:00:00 PM
- Evogene Reports Receipt of Nasdaq Minimum Bid Price Notification • PR Newswire (US) • 03/20/2024 01:00:00 PM
- Bayer AG and Lavie Bio Continue for Second Year of Biofungicides Validation Following Successful Lab and Greenhouse Testing • PR Newswire (US) • 03/19/2024 01:00:00 PM
- Lavie Bio and Ceres Global Ag Corp. Collaborate to Include YalosTM Bio-Inoculant, in Regenerative Agriculture Initiatives in North America • PR Newswire (US) • 03/13/2024 01:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/07/2024 12:00:17 PM
- Evogene Reports Fourth Quarter and Full Year 2023 Financial Results • PR Newswire (US) • 03/07/2024 12:00:00 PM
- AgPlenus Achieves Milestone in Collaboration with Corteva to Develop Novel Herbicides • PR Newswire (US) • 03/06/2024 12:00:00 PM
- Casterra Announces New Agreements with Seed Producers in Brazil and Africa to Meet Growing Demand for its Elite Castor Seed Varieties • PR Newswire (US) • 03/05/2024 12:00:00 PM
- Form F-3 - Registration statement by foreign private issuers • Edgar (US Regulatory) • 03/01/2024 12:03:59 PM
- Lavie Bio Successfully Secures Second Half Advance Payment of $2.5M after Meeting Corteva's Licensing Agreement Requirements • PR Newswire (US) • 02/28/2024 12:00:00 PM
- Evogene Schedules Fourth Quarter 2023 Financial Results Release & Conference Call for March 7th, 2024 • PR Newswire (US) • 02/26/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/22/2024 12:00:08 PM
- AgPlenus Announces Appointment of Dr. Dan Jacob Gelvan as its Incoming Chief Executive Officer • PR Newswire (US) • 02/22/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/21/2024 12:01:13 PM
- AgPlenus Announces Licensing & Collaboration Agreement with Bayer to Develop a New Sustainable Weed Control Solution • PR Newswire (US) • 02/21/2024 12:00:00 PM
- Syngenta and Lavie Bio Announce Partnership to Discover and Develop Novel Bio-Insecticide • PR Newswire (US) • 02/20/2024 12:00:00 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/15/2024 01:30:01 AM
- Evogene and Verb Biotics Enter Collaboration Agreement to Advance Probiotic Innovation • PR Newswire (US) • 02/06/2024 12:08:00 PM
- Biomica CEO Set to Engage in Panel Discussion at 8th Annual European Microbiome Movement Summit • PR Newswire (US) • 01/23/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/17/2024 12:00:06 PM
- Biomica Successfully Completes Phase I Trial Enrollment for Microbiome-Based Immuno-Oncology Drug • PR Newswire (US) • 01/17/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/09/2024 01:30:57 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM