Canonic and a wholly owned subsidiary of Evogene, together with Plantis Agro a cultivator based in the north of Israel, have announced a license agreement whereby Canonic will license two of its proprietary cannabis varieties to Plantis for cultivation, marketing, and sales in the Israeli market.
Under the agreement, Plantis will be responsible for the growing, marketing and sales of the medical cannabis products generated from the two cannabis varieties, and all expenses related to those activities, and Canonic will be entitled to royalties from revenues generated from these product sales. The two new varieties were developed by Canonic using proprietary sets of novel genetic markers targeting unique differentiation factors. These include a targeted THC content and specific terpenes resulting in a unique desired smell. The new medical cannabis products made from these two varieties, will expand Plantis' product offering and cater to a broader range of customers in Israel.
Canonic, a subsidiary of Evogene, is focused on developing unique cannabis products, with improved active compounds, genetic stability, desired terpene properties, and specific medical effects. Canonic utilizes Evogene's proprietary GeneRator AI engine, a computational biology platform, designed to revolutionize the development of genetic-based products. Through precise plant characterization capabilities and with the help of advanced computational analysis, Canonic can significantly accelerate and shorten breeding processes, and bring to the market elite varieties of medical cannabis.
Plantis is a medical cannabis company with the aim of improving, enhancing, and refining the treatment options with medical cannabis. Plantis' owns one of the most advanced agro-tech farms in Israel, breeding, flowering, and cultivating cannabis strains at an altitude of 710 meters above sea level in the northern Israel climate, which is an optimal area for growing cannabis.
"Plantis' aims to create a new standard in the field of medical cannabis in Israel, via our sophisticated cultivation farm, which is located in the most optimal site in Israel for growing medical cannabis in terms of air and water quality, and sunlight, which yields even stronger lighting than in indoor facilities most of the year," commented Elad Stern, CEO of Plantis. "The genetics we have licensed from Canonic, which we have chosen from many varieties are excellent and achieve our goal of producing maximum therapeutic value for the patients."
Ofer Haviv, Chairman & CEO of Canonic, added, "We are thrilled to expand our partnership with Plantis. The licensed varieties were selected through Canonic's advanced artificial intelligence algorithms which leverage Evogene's computational predictive biology expertise and its GeneRator AI tech-engine. This new agreement is a testament to the quality of our varieties and the trust that we have built for our products. We believe that the unique attributes of these new strains will be well-received by the Israeli market. We look forward to continuing to expand our relationship with Plantis over the coming years."
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