OWC Pharmaceutical Research Corp Initiated Final Stage of Cannabinoid-based Topical Ointment Safety Study
RAMAT GAN, Israel, August 1, 2018 /PRNewswire/ -- OWC Pharmaceutical Research Corp. (OTCQB: OWCP), a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, announced today the initiation of the final stage of its Phase I, placebo controlled, maximal dose study (the "Psoriasis Study") to determine the safety and tolerability of topical ointment containing medical grade cannabis in healthy volunteers. On June 28, 2018, the Company announced that it had successfully completed the initial stage of this trial, which comprised the single dosing of healthy volunteers. The final stage of the trial comprises the twice daily dosing of healthy volunteers for 6 weeks. The study is being performed by Professor Aviv Barzilai, Director of the Department of Dermatology at Chaim Sheba Medical Center. Sheba is a university-affiliated hospital that serves as Israel's national medical center and is one of the leading integrated medical centers in the Middle East.
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Mr. Mordechai Bignitz, the Chief Executive Officer of OWC commented, "We mentioned in our recent letter to shareholders that we were waiting for licenses in order to initiate this trial. This approval has now been obtained and we will immediately initiate clinical testing. Validation of safe and efficacious therapeutics is key to our mission and we aim to progress our studies as rapidly as possible, adhering to best clinical practices."
About OWC Pharmaceutical Research Corp.
OWC Pharmaceutical Research Corp., through its wholly owned Israeli subsidiary, One World Cannabis Ltd., (collectively 'OWC' or the 'Company') conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines.
OWCP is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. All OWCP research is conducted at leading Israeli hospitals and scientific institutions and led by internationally renowned investigators. The Company's Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids and cannabis-based products for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.
Contact: Mordechai Bignitz Chief Executive Officer - OWC Pharmaceutical research crop, Email: Mordechai.Bignitz@owcpharma.com Tel: +972-(72)-260-8004
SOURCE OWC Pharmaceutical Research Corp.
Company Codes: Bloomberg:OWCP@US, RICS:OWCP, ISIN:US67109N1081, OTC-BB:OWCP, OTC-QB:OWCP, OtherOTC:OWCP