Market Herald logo

Subscribe

Be the first with the news that moves the market
  • InnoCan Pharma’s (CSE:INNO) Israeli subsidiary has entered into a letter of intent with cell therapy manufacturer ADVA Biotechnology
  • The LOI outlines an agreement to produce and develop exosomes and other microscopic cellular components
  • Through the agreement, the companies will produce exosomes and load them with cannabis compound, CBD
  • The exosomes may assist in efforts to develop a treatment for COVID-19 and other indications
  • InnoCan Pharma (INNO) is up 14.29 per cent and is currently trading at $0.24 per share

InnoCan Pharma’s (CSE:INNO) Israeli subsidiary has entered into a letter of intent with cell therapy manufacturer, ADVA Biotechnology.

The LOI sets out an agreement between the two companies, for the production and development of exosomes. Exomes allow microscopic cells to perform a range different functions.

The parties intend to negotiate around the agreement and conclude it within 120 days of the LOI. 

Through the agreement, ADVA will use its therapy manufacturing solutions to provide a framework for producing exosomes. 

InnoCan has conducted research and development at the Tel Aviv University, led by Professor Daniel Offen. As part of this, InnoCan will load the exosomes with the cannabis compound CBD. 

The CBD-filled exosomes may help in efforts to develop a treatment for COVID-19, and other central nervous system indications.

InnoCan’s CEO, Iris Bincovich, said the company is looking forward to working with ADVA.

“The ADVA team brings experience of many years in development of bioreactors, at the highest level of mesenchymal stem cell production in various companies. 

“The agreement is expected to provide InnoCan with full control of many important parameters of the exosome production process, allowing InnoCan and Professor Offen’s team to optimize the exosome and production system,” she said.

ADVA’s CEO, Dr Ohad Karnieli, said the company is pleased to collaborate with InnoCan and Professor Offen’s team. 

“Our technology is an excellent fit to InnoCan’s needs. The ability of having full control and high flexibility at the production process may lead to better, faster and high yield production of the exosomes and cells,” he said. 

InnoCan Pharma (INNO) is up 14.29 per cent and is trading at $0.24 per share at 11:52am EDT.

More From The Market Herald

" The Market Herald’s Weekly Cannabis Report

Weekly Update – Top Cannabis News Stories

" BioHarvest Sciences welcomes Gavriel Lambert to the Board of Advisors

BioHarvest Sciences (BHSC) has appointed Gavriel Lambert to serve on its Board of Advisors.
Pure Extracts Technologies - CEO, Ben Nikolaevsky.

" Pure Extracts (CSE:PULL) signs supplier agreement with Shoppers Drug Mart

Pure Extracts (PULL) has signed a cannabis supplier agreement with Shoppers Drug Mart.

" Tilray (TSX:TLRY) expands medical cannabis products in the UK

Tilray Brands’ (TLRY) medical cannabis division, Tilray Medical, has expanded its medical cannabis offerings in the United Kingdom.