Cannabis Science Inc (fka CBIS)

[DouglasJH]

I don't think it will take 3 years. I'm thinking it will happen this year.
http://berlin.mfa.gov.il/mfm/Data/108574.pdf [ PDF ]

"Israeli companies are well-represented in just about
every sector of the biotechnology industry and are
at the vanguard of many emerging new areas?"

American firms are not wanting to be left behind.

The world's largest cannabinoid R&D group.
Israel is at the forefront in the development of drugs that target the bodys endocannabinoid system. Endocannabinoids are naturally occurring regulatory molecules in the body. A torrent of recent research has pointed to the endocannabinoids as important targets for drug research, and drug developers are rushing to identify compounds that can enhance or block the cannabinoid receptors.
Pharmos was the first company to specialize in this area. The company has assembled an R&D team of more than 40 scientists that is considered to be the largest and most experienced cannabinoid drug development group in the world. The company got its head start more than a decade ago when it licensed technologies developed by Raphael Mechoulam, an organic chemist at the Hebrew University of Jerusalem. Mechoulam is well-known for his discovery of tetrahydrocannabinol (THC), the psychotropic active ingredient in the cannabis plant, and for isolating the first endocannabinoid. His research paved the way for developing synthetic cannabinoid drugs.
Unfortunately, Pharmos first cannabinoid compound, dexanabinol, failed to show signficant results in a Phase III trial for traumatic brain injury.
However, the company has developed a library of promising molecules in a different cannabinoid platform, a family of CB2 (cannabinoid receptor 2)- selective compounds. These cannabinoid agonists that bind to CB2 receptors have outperformed morphine and gabapentin in animal studies for treating pain. They are expected to benefit other neuroinflammatory indications such as rheumatoid arthritis, inflammatory bowel disease and multiple sclerosis.
Pharmos is headed by CEO Haim Aviv, the founder of the countrys first biotechnology company and the mentor of many young Israeli scientists. Our first CB2 drug candidate, cannabinor, which has successfully completed Phase I, is just the forerunner of many members of this drug family that we expect to bring to the market,? he said.
....

In the meantime, university researchers like Avram Hershko and Aaron Cienhanover, have overcome the obstacles needed to commercialize their technologies. Their Nobel-prize winning discovery of the ubiquitin system is being advanced by Proteologics, a start-up that recently received backing from investors that include Teva.
Teva also shows no signs of letting up. In January of this year the company merged with US pharmaceutical manufacturer Ivax to create an amalgamated company with more than $7 billion in revenues. Teva now enjoys an expanded innovative drug pipeline and greater access to overseas partners, creating more opportunities for the entire Israeli industry.