Wize Pharma and Cannabics Pharmaceuticals have formed a joint venture (JV), to work on cannabinoid products to treat ophthalmic conditions, Wize said on Friday.
The companies have have jointly created and approved a plan that will support their pursuit of a significant opportunity to create ophthalmic treatments that leverage the therapeutic power of cannabis, said Wize’s CEO Noam Danenberg, in a released statement.
“Having assessed the regulatory pathway for eyedrops containing cannabinoids or cannabinoid strings, we are eagerly engaging in technology development and clinical advancement,” said Danenberg.
He noted that Cannabics is a world leader in the development of cannabinoid-based therapies for cancer, and with a state of the art laboratory that has received approval from the Israeli Ministry of Health to conduct research with Cannabinoids and Cancer, it is an ideal partner for Wize.