MediCane Health Inc. Receives IMC-GMP License for its Manufacturing Plant in Israel

KFAR SABA, Israel--(BUSINESS WIRE)--MediCane Health Inc. is pleased to announce the awarding of an IMC-GMP license for its new manufacturing facility in Kfar Saba, Israel. The approval received this month will enable MediCane to manufacture dry herb and cannabis-based oils, as well as to produce novel formulations for its in-house R&D activity.

Together with its wide network of research partners, MediCane is executing clinical programs to develop cannabis-based drugs with two leading therapeutic areas - Behavioral and Psychological Symptoms of Dementia (BPSD) and sleep disorders.

Using its state-of-the-art combinatorial machine for automatic packaging and its extraction machine for oil production, MediCane intends to process its organic production first for the Israeli market and later for global markets and will selectively offer toll manufacturing services to other local cannabis companies.

The number of patients approved for the use of medical cannabis in Israel has increased steadily, reaching over 100,000 in January 2022. With its newly licensed factory, MediCane intends to increase the access of this growing patient population to high quality medical cannabis sourced from its own organic cultivation, as well as from other reputable local and global cultivators.

” IMC-GMP approval is an important milestone for us and cements our strategy of holding the complete value chain from seed to customer in Israel, which is a key market for us” said Yoav Nir, CEO of MediCane Agro. “We aim to release our first oil products at the beginning of the second quarter and follow with dry herb packages. We will soon also produce the first batches for upcoming clinical trials of MediCane later in the year.”

MediCane Health Incorporated is an international pharmaceutical company engaged in research and development, as well as the cultivation, production, and marketing of cannabis-based medications. The company launched its manufacturing facility in Kfar Saba in 2020. Today, MediCane is one of 10 approved cannabis manufacturers in Israel.