TEL AVIV, Israel and BETHESDA, Maryland, May 2, 2018 /PRNewswire/ —
Cannabics Pharmaceuticals Inc. (CNBX), leader in cannabinoid diagnostic tests for personalized cancer treatment, today announced that CEO of Life Source Partners Ltd., Muriel Zohar, Ph.D, MBA, will be working with Cannabics to advance personalized and palliative cannabinoid cancer care. Dr. Zohar brings a diversified background in private equity and therapeutic drug development to her new role.
“Cannabics has demonstrated strong expertise in cannabinoid data and technology applications to enable a future of more effective and targeted care,” said Dr. Zohar. “I look forward to supporting the Cannabics team by assessing new project opportunities and providing strategic business insight to help maintain the company’s leadership in cannabinoid diagnostics and therapeutic applications within the rapidly expanding industry.”
Dr. Zohar has led business development and research activities for several healthcare technology, finance and biopharmaceutical companies including Ofer Hi-Tech and Bio-Technology General (BTG). Her numerous global clients include both large and small pharmaceutical companies along with private equity and development funds. She holds a doctoral degree from the Weizmann Institute of Science and completed her postdoctoral training in Molecular Oncology at the National Institute of Health as a distinguished Intramural Research Training Award fellow. Dr. Zohar also holds an MBA degree from Bar Ilan University in Israel.
In addition to assessing project opportunities, Dr. Zohar will support the management of a new Cannabics equity line. The company has secured a $10 million Standby Equity Distribution Agreement (SEDA) with YAII PN, Ltd., which enables $10 million of common stock purchases over the next 36 months. Shares will be purchased at a 2 percent discount on market price and will be subject to certain ownership limitations. Previous Cannabics filings with the Securities and Exchange Commission registered all common stock shares to be offered and sold by YAII PN, Ltd., which enables substantially less dilution for existing shareholders when compared to convertible transactions or direct loan agreements.
“The new line of equity will support Cannabics’ efforts to develop therapeutic and diagnostic cannabinoid capabilities for palliative and primary cancer care,” said CEO Eyal Barad. “We’re thrilled to have Dr. Zohar on board to help us grow our company pipeline and support our corporate regulatory and business strategy.”
About Cannabics Pharmaceuticals
Cannabics Pharmaceuticals Inc. (CNBX) is a United States-based public company that is developing cannabinoid diagnostic tests for the personalized treatment of cancer. Cannabics is developing a blood test that allows practitioners to precisely tailor medical cannabinoid-based therapies to an individual patient’s profile and cancer. Cannabics’ approach can also be used to develop cannabinoid-based therapies as preventive or primary cancer treatments – not just palliative, as is currently utilized. By developing tools to assess effectiveness on a personalized basis, Cannabics is helping to move medical cannabinoids into the mainstream of cancer therapies.
The company’s R&D is based in Israel, where it is licensed to conduct scientific and clinical research on harnessing the therapeutic properties of cannabinoid formulations.
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