Kanabo's First Medical Cannabis Product in UK

RNS Number : 1401F

Kanabo Group PLC

14 July 2021

 

14 July 2021

Kanabo Group Plc

("Kanabo" or the "Company")

Kanabo's First Medical Cannabis Product in UK

Highlights

· Kanabo's metered dosage inhalation device offers UK patients unique new alternative to smoking medicinal cannabis flowers

· First shipment of medical cannabis cartridges for distribution through LYPHE Group clinics and dispensaries delivered next week

· Kanabo's supply, production, and distribution chain now fully operational

Kanabo Group Plc (LSE:KNB), the London-based medical cannabis R&D company, is pleased to announce that its medicinal cannabis cartridges will be available shortly for UK patients, as its first order has been shipped and is expected to arrive to the UK next week. This product will be distributed under the brand name NOIDECS pursuant to Kanabo's agreement with the LYPHE Group and its wholly owned subsidiary Astral Health Limited as announced on 23 February 2021.

Kanabo's proprietary medicinal cannabis extract formulas will be sold in pre-filled, sealed cartridges which can only be used with Kanabo's VapePod device. The cartridges will be sold as prescribed, unlicensed medicine to patients of LYPHE Group's UK clinics and dispensaries, which includes The Medical Cannabis Clinic. The cartridges have been produced as part of Kanabo's partnership with PharmaCann Polska, announced on 9 March 2021, under a dedicated production line which uses Kanabo's customised production protocols.

This delivery will fulfill Kanabo's key milestone of the 'Sale of the Company's Medical Cannabis Products in a Primary Market' as described in the prospectus published on 29 January 2021, and is an example of Kanabo's fully operational supply, production and distribution chain.

The Product

The medical extract formula has a composition of 70% THC with 15% minor cannabinoids and terpenes and is based on the Israeli medical cannabis pharmacopoeia as a recommendation for the treatment of pain management. The VapePod, a medical-grade handheld vaporiser, allows physicians to prescribe accurate and precise micro doses of cannabis; 1mg of formula is dispensed with each inhalation.

In a report titled 'Cannabis scheduling review: part 1' published by the UK Government Department of Health and Social Care ( found here on Gov.UK ) , reviewing evidence for the therapeutic benefit of cannabis-based medicinal products, it states that "the health harms of smoking are clear and patients should be informed of the health risks associated with such use." Until now, UK patients have only had access to medical cannabis dry flowers and oil tinctures. Even though they are advised against it, the majority of patients choose to smoke medicinal cannabis flowers due to the fast onset via inhalation. Kanabo's medical line aims to enable patients to move away from the harmful habit of smoking medical cannabis flowers. Patients can now take their medicine without inhaling soot, tar and carcinogens into the lungs.

Dean Friday, LYPHE's CEO commented : "Kanabo are experts in novel delivery with their VapePod greatly improving onset times, and for our chronic pain patients we now have an alternative to flower vaporisation. This is the start of a revolution in medical cannabis application and we are delighted to be supplying it under the NOIDECS brand, which focuses on high potency medicinal THC products. "

Avihu Tamir, Kanabo's CEO commented : "The VapePod is a world first allowing specialist consultants to prescribe a metered dose of medicinal cannabis that is healthier for patients than the alternative which is typically smoking. Medical cannabis is a safer alternative to the conventional opiate solutions and other pain management treatments. This announcement ensures that 1000s of UK patients have access to the most effective medicinal cannabis delivery system. "

For further information, please visit http://www.kanabogroup.com/ or contact the following:

Kanabo Group Plc

Tel: +(972)52-3173-633

[e-mail]

Meirav Horn

Peterhouse Capital Limited (Financial Adviser)

Tel: [phone]

Eran Zucker / Guy Miller / Allie Feuerlein

Peterhouse Capital Limited (Corporate Broker)

Lucy Williams / Charles Goodfellow

About LYPHE GROUP

LYPHE Group, delivers a patient-focused medical cannabis ecosystem, and has emerged as the UK's market leader in patient care - seeing over 60% of the medical cannabis patients in the country. LYPHE delivers a reliable and seamless supply of medical cannabis care and medicine. It has built a patient-access ecosystem across the UK that provides clinics, pharmacy & dispensing, import infrastructure and vital educational services to patients, doctors and other health care professionals.

About KANABO GROUP PLC

Kanabo aims to create a new standard in the medical cannabis industry by building an ecosystem that improves the well-being of millions around the world by providing an alternative solution to the smoking of medicinal cannabis flowers. With a focus on the distribution of cannabis-derived products for medical patients, and non-THC products for CBD consumers, Kanabo has conducted extensive Research & Development in order to produce high-quality cannabis extract formulas, innovative medical-grade vaporizers, and various non-smoking consumption solutions.

 

END

 

 

STRUORWRARUBAAR