STENOCARE A/S and OWC Pharmaceutical Research Corp. have signed a strategic Memorandum of Understanding to develop and commercialize new cannabis-based medical products. The new relationship will accelerate STENOCAREs long term strategy to supplement its high quality generic medical cannabis products with differentiated products that are formulated to target specific patient groups suffering from specific conditions and will provide market access to OWCs technologies.

The companies wish to cooperate in order to jointly develop and promote the sale and distribution of products within STENOCAREs current core markets (Denmark, Ireland) and potentially in new territories to be targeted by STENOCARE. The nature of the cooperation is highly synergistic: STENOCARE will provide its high-quality cannabis raw materials and extensive knowledge, reputation and experience relating to supply and distribution of medical cannabis-based products in Denmark and Ireland; OWC will provide its expertise in medical research and clinical trials for cannabis-based novel therapeutic products and treatments, backed by its extensive Intellectual Property Portfolio. The first product candidate for the partnership will be a sublingual tablet with specified medical cannabis ratios designed to meet specific needs of patients according to their diagnosis and responses to treatment.

It is expected that such jointly developed products can be launched, subject to obtaining relevant approvals and licenses during 2021 and 2022.