OWC Pharmaceutical Research Corp to Initiate Efficacy Testing on its Cannabinoid-Infused Cream for Treatment of Psoriasis
PETACH TIKVA, Israel, October 11, 2016 /PRNewswire/ --
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), ("OWC" or the "Company"), an Israeli-based developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today announced it is starting the final phase for testing the efficacy of its own developed topical crème compound for the treatment of psoriasis and related skin conditions.
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The Company's recently completed Challenge Testing for the topical crème, successfully demonstrated the product's robustness against microbiological contamination, stability, and provided a preliminary safety assessment. This next phase of Safety testing protocol was designed to corroborate that the cream is safe for application to the skin. This will be demonstrated by giving a highly concentrated topical crème formulation to healthy patients within a hospital controlled environment. The safety phase will start upon receiving the Institutional Review Board (IRB) approval by the national IRB committee which is expected to be assembled in November 2016.
OWC is also preparing to initiate in parallel Efficacy Testing using MatTek Corporation patented EpiDerm™ system, an in-vitro testing technology for dermal toxicologists. This protocol will seek to prove the effectiveness of the formulation in treating psoriasis on human skin tissue. The tests will be conducted at an approved international lab of Dead Sea & Arava Science Center under the auspices of the Ben-Gurion University of the Negev (http://www.adssc.org/ ).
Dr. Yehuda Baruch, the Company's Director of Research and Regulatory Affairs, commented on the announcement, "Psoriasis is an affliction of the immune system resulting in sub-dermal infection that can be painful and uncomfortable. Cannabis is believed to provide relief from some infections and skin conditions, and it is a central ingredient in our topical crème formulation. Our preliminary studies indicate the formulation does provide relief of these symptoms, and we are confident that these studies will corroborate those results."
Ziv Turner, OWC's CEO, went on to say, "We are excited to begin this last phase of testing so that we can finally make this product available for all psoriasis sufferers. We hope to start sales and marketing both in Israel the US in the second quarter of 2017, and have already been in contact with a number of representatives who have expressed interest in manufacturing and distributing the crème in their state. Of course, we also continue our work on multiple myeloma and other conditions, so I am hopeful that this is just the first of many products that will follow."
Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression. Skin cells in patients with psoriasis grow at an abnormally fast rate, causing a buildup of lesions that tend to burn and itch. While the real cause of psoriasis is not known, genetics are believed to play a major role in its development. According to the National Psoriasis Foundation, psoriasis affects 7.5 million people in the United States.
About OWC Pharmaceutical Research Corp.
OWC Pharmaceutical Research Corp., through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., (collectively "OWC" or the "Company") conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. OWC is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. All OWC research is conducted at leading Israeli hospitals and scientific institutions, and led by internationally renowned investigators.
The Company's Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks. For more information, visit: http://www.owcpharma.com/
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, filing patent applications, product development, and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in OWC Pharmaceutical Research Corp. (OTCQB: OWCP) periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact Information: In Israel: Ziv Turner, Chief Executive Officer - One World Cannabis Ltd. Email: firstname.lastname@example.org Tel: +972-(0)3-7582659
SOURCE OWC Pharmaceutical Research Corp.