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Replies to post #2921 on OWC Pharmaceutical Research Corp (OWCP)
10/03/16 5:11 PM
10/03/16 5:49 PM
According to the terms of the agreement:
The funds will be allocated to complete the development of the Company's proprietary psoriasis cream;
Once we saw the preliminary results for their clinical studies, particularly in the field of psoriasis, we decided to make an investment and partner with them.
Once the initial study is completed, OWC intends to initiate studies at one of the biggest academic medical centers in Israel to determine the effect of the cream on psoriasis.
Pursuant to the collaboration agreements, we are obliged to pay Sheba $300,000 throughout 2016 for conducting the psoriasis research, and $100,000 for the fibromyalgia research during the two years of the study. We currently have the financial resources to fund our obligations under these agreements, but anticipate that we will require additional funding during the next 12 months for our continuing and planned expanded operations
PETACH TIKVA, Israel, March 9, 2016 /PRNewswire/ -- OWC Pharmaceutical Research Corp. (OTCQB: OWCP), ("OWC" or the "Company"), an Israeli-based developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today announced that it has completed development of a topical cream compound designed to ensure the effective delivery and dosage of its proprietary cannabinoid formulations. The cream was developed through a strategic alliance with Emilia Cosmetics Ltd., one of Israel's largest private label cosmetics manufacturers.
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