Cannbit, a Tel-Aviv listed cannabis producer, is launching a study on how cannabis-based treatment works for three aggressive types of cancer. The company made the announcement via a filing with the stock exchange earlier this month.
According to Cannbit, the study will be led by Raphael Mechoulam, a cannabis research pioneer and a professor of medicinal chemistry at Hebrew University of Jerusalem. He was the first to identify tetrahydrocannabinol (THC), the main psychoactive constituent in cannabis.
Currently, Mechoulam heads Cannbit’s scientific advisory committee. The company has a first-look agreement for all of the research he does following his appointment to Cannbit.
Sheba Medical Center and Hadassah University Hospital-Ein Kerem will collaborate on the study.
The company will invest $400,000 in this new cannabis study, plus an additional $2 million that goes towards a commercial drug license. In return, Cannbit will get an exclusive commercial license for the cannabis-based drug for the 25-year duration of the patent, as well as for any other intellectual property that is generated during the study.
The study will involve looking into molecules that are found to be effective in fighting neuroblastoma, Glioblastoma, and melanoma. Yissum, which is the Hebrew University’s technology transfer company, owns the intellectual property for the preliminary study results. These results will be transferred to Cannbit at a later time, for the duration of the patent.