Univo Pharmaceuticals (TASE: UNVO) will provide medical grade cannabis and cannabis-based products, as well as funding, to the RAMBAM medical center in Haifa, Israel.
The center will be conducting a study aimed at the development of medical cannabis-based products, including anti-inflammatory products for respiratory conditions and pneumonia, such as those caused by the coronavirus.
According to the company, the study has been approved by the Medical Cannabis Unit at the Israeli Ministry of Health.
Both parties are now working in tandem for the study to begin immediately, under the management of Prof. Igal Louria-Hayon, Head of Leukemia Research & Cancer Signaling Lab and Scientific Director at the Medical Cannabis Research & Innovation Center at the RAMBAM health care campus.
Univo will provide RAMBAM with the cannabis and the funding for the study over a period of up to two years, and will be entitled to manufacture and market the resulting products in return for royalty payments to the medical center.