Canonic Announces Positive Results in Pre-Clinical Studies in its Precise Product Program for Medical Cannabis

The results support the identification of specific cannabis varieties with heightened anti-inflammatory and pain relief properties for Canonic’s medical cannabis Precise product line and have led to a patent application filing. According to industry estimates, the medical cannabis market in Europe is estimated to pass €1 billion in 2023. The Israeli medical cannabis market includes over 105,000 licensed patients and is estimated at $260 million per year, with over 60% of medical cannabis in Israel prescribed for pain and inflammation indications[3]. The ability of Canonic’s medical cannabis varieties in reducing pain and inflammation in pre-clinical settings is impressive. The Company’s strategy includes the development of Cannabis varieties in order to commercialize medical Cannabis products independently or through collaborations.