Cannabics Pharmaceuticals Founds Digestix Bioscience Inc., a Subsidiary for Treatment of Precancerous and Early Stage Neoplastic Local Tumors
Nov 16, 2020, 09:25 ET
TEL AVIV, Israel and BETHESDA, Maryland, Nov. 16, 2020 /PRNewswire/ — Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a global leader in the development of cancer related cannabinoid-based therapeutic formulations and medicines, announced today that it has established a subsidiary, Digestix Bioscience Inc., a company dedicated to the development of medical devices and pharmaceutical compositions for the treatment of precancerous and early stage neoplastic local tumors. The new company’s initial focus is in developing a medical device and a pharmaceutical composition with inhibitory effects for preventing recurrence of certain adenomatous colorectal polyps.
Adenomatous colorectal polyps are found in approximately 25-30% of colonoscopies performed on men and women over the age of 50, and according to iData Research, approximately 19 million colonoscopies are performed in the US annually. The new company is founded by Professor Eitan Scapa, Dr. Erez Scapa, Gabriel Yariv and Cannabics Pharmaceuticals as a majority shareholder. Gabriel Yariv, who currently serves as Director and COO of Cannabics Pharmaceuticals, will also serve as interim Chairman and CEO of Digestix Bioscience during initial setup.
Prof. Eitan Scapa, Co-Founder of Digestix Bioscience, said: “While the polyps themselves often do not exhibit symptoms, they have the potential to develop into colorectal cancer. Moreover, some of the more aggressive polyps have a tendency for recurrence after having been removed, thus increasing the chances for the tumor turning cancerous. Digestix Bioscience has come up with what we believe is a novel and proprietary treatment solution to potentially reduce the recurrence of these more aggressive polyp types”.
Prof. Scapa specializes in gastroenterology and liver diseases and is a Full Professor of Medicine at Tel Aviv University. He has completed a Fellowship at Harvard University Medical School, as well as having held numerous key positions in his field over the years, including: Head of Gastroenterology and Liver Diseases Unit at Asaf Harofe Medical Center; President of the Israeli Association of Gastroenterology (IGA); Chairman of the Helsinki Committee at Asaf Harofe Medical Center; and Chief R&D, Medical Corps, in the IDF (Lieutenant Colonel). Prof. Scapa is also the originator of the PillCam™ Capsule Endoscopy technology developed by Given Imaging (Medtronic), and the CMO and Co-Founder of ART Medical.
Eyal Barad, Cannabics Pharmaceuticals’ CEO said: “The establishment of Digestix Bioscience is a great example of how Cannabics can stay focused on its core activities while leveraging its knowhow and expertise to establish new ventures and partnerships in order to tap adjacent markets such as that of medical devices and pre-cancerous and early stage local tumors in this case”.
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a U.S. public company and a global leader in the development of cancer related cannabinoid-based therapeutic formulations and medicines. The Company’s R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and cancer.
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