Yissum And Phytotech Medical To Collaborate On Novel Delivery System For Medical Cannabis | Business Wire

On January 22, 2015, PhytoTech Medical has become the first medical marijuana company on the Australian Securities Exchange (ASX). The company raised AUS$5.9 million dollars (approximately US$4.7 million) at a share price of $0.20 per share. The offer was significantly oversubscribed, demonstrating the high level of demand in the market to invest in MC stocks and the calibre of the offering by PhytoTech. Cannabis based medications are currently in clinical use worldwide. The most known formulation is Sativex, a sublingual spray delivering CBD and THC. PhytoTech will develop an improved, oral capsule formulation and transbuccal delivery system that consists of a flexible, muco-adhesive patch that will release the active ingredients of cannabis in a controlled manner. Yaacov Michlin, CEO of Yissum, stated: We are very pleased to collaborate with PhytoTech in developing the inventions of Professors Domb and Hoffman for the purpose of delivering the active components in cannabis.
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