CANNDOC Pharma News
18 articles
InterCure Signs Definitive Agreement to Acquire Leon Cannabis Pharmacy Chain
InterCure Ltd., a leading medical cannabis company in Israel, announced its acquisition of Leon Pharm Ltd., a prominent Israeli pharmacy chain specializing in medical cannabis. This strategic acquisition aligns with InterCures expansion strategy in response to the new medical cannabis reform by the Israeli Ministry of Health. The transaction involves issuing between 1,755,000 to 1,845,000 shares of InterCure to Leon Pharms shareholders, subject to certain lock-up and exercise restrictions. The acquisition is expected to enhance InterCures distribution network and strengthen its market position. The transaction is contingent upon approvals from the Israel Medical Cannabis Agency and the Israel Competition Authority. InterCures CEO, Alexander Rabinovich, emphasized the acquisitions role in meeting the unique needs of patient communities in Israel.
Acquisition
אינטרקיור מודיעה שפעילותה תפגע - בעיקר בגלל המפעל בניר עוז
Subversive Acquisition LP Announces InterCure's Letter of Intent Relating to the Acquisition of a Multi-National Medical Cannabis Producer, Better Holdings
InterCure Ltd., Israels leading cannabis company, has signed a Letter of Intent to acquire Better Holdings, a medical cannabis operator in Israel and Australia. The acquisition strengthens InterCures position as the largest cannabis company outside of North America and expands its global reach. The companies expect to sign detailed and binding agreements within 90 days. The total consideration for the acquisition is USD $35 million, payable with InterCure shares. InterCure will also invest up to USD $2.5 million in Better Australia. The acquisition is seen as a historical milestone in the Israeli cannabis industry and will help InterCure connect more effectively with new and existing patients in Israel and internationally. The transaction will add leading brands, a distribution network, and unique partnerships to InterCures portfolio.
AcquisitionPartners
Israeli Cannabis Company Canndoc to Go Public via SPAC
Subversive Real Estate Acquisition REIT LP (SVX) has announced its qualifying transaction to combine with InterCure Ltd. (dba Canndoc), Israels leading cannabis company. The combined company will be led by Chairman Ehud Barak and CEO Alex Rabinovitch. Canndoc has experienced significant revenue growth and plans to triple its retail footprint in 2021. The transaction is expected to close in April 2021, and the shares of the combined company will be listed on NASDAQ. SVX has also announced a $65 million private placement to support the transaction. Canndoc is the largest licensed cannabis producer in Israel and is well-positioned for market expansion and positive cash flow growth. The company has exclusive partnerships with leading cannabis brands and suppliers. Canndocs Chairman, Ehud Barak, believes the company is well-positioned to lead emerging cannabis markets globally.
InvestmentPublic Trading
אינטרקיור: קנדוק חתמה על שיתוף פעולה אסטרטגי בלעדי וארוך טווח עם Fotmer
אינטרקיור חתמה על הסכם אסטרטגי עם חברת הקנאביס Fotmer Corporation S.A, המספקת מוצרים רפואיים ברמת איכות גבוהה. ההסכם יגדיל את היקף הייצור, הכנסות ורווחיות של אינטרקיור באופן משמעותי. השיתוף פעולה עם Fotmer הוא חלק מאסטרטגיית הצמיחה של אינטרקיור, והוא מתווסף לשיתופי פעולה עם חברות נוספות בתחום הקנאביס. המטרה היא לספק מוצרים רפואיים באיכות גבוהה למטופלים בישראל ובאיחוד האירופי.
Partners
Charlotte's Web Expands into Israel Through Strategic Alliance with InterCure, Owner of Canndoc
Charlottes Web Holdings, Inc., the market leader in hemp CBD extract products, has signed an exclusive distribution agreement with InterCure Ltd., one of Israels largest medical cannabis producers. The agreement allows for the distribution of Charlottes Web hemp extract wellness products in Israel through Canndoc Ltd., a subsidiary of InterCure. The companies are also considering future distribution agreements in certain European countries. This collaboration aligns with Charlottes Webs strategy to leverage established expertise in international markets. The sale of CBD is expected to be legalized in Israel, and the agreement positions InterCure as one of Charlottes Webs leading strategic allies outside of North America. The partnership aims to offer high-quality CBD wellness products to the Israeli market and explore opportunities for clinical trials, product development, and manufacturing in Israel.
Partners
Canadian cannabis giant & Israeli medical cannabis producer want to grow together
Aphria Inc., a leading global Canadian cannabis company, has entered into a strategic supply agreement with Canndoc Ltd., a subsidiary of InterCure, one of Israels largest medical cannabis producers. The agreement ensures Canndoc as a supplier of dried bulk cannabis flower to Aphria for a period of 2 years, with a possible 3-year extension. The partnership also includes collaboration on research initiatives and exploring potential collaboration in the EU market. This partnership allows Aphria to expand its medical cannabis brand internationally and bring high-quality medical cannabis products to patients in Israel. Canndoc has established itself as a respected company in the global cannabis industry and has previously partnered with Super-Pharm, Israels largest drugstore chain.
Partners
Organigram and Canndoc Sign International Strategic Agreement
Canndoc and Super-Pharm Sign Long-Term Partnership Agreement
InterCures subsidiary Canndoc has entered into a strategic partnership agreement with Super-Pharm, Israels leading drugstore chain. Under the agreement, Super-Pharm will acquire 10 tons of Canndocs GMP medical cannabis products over a 3-year period. Canndocs products will be distributed to Super-Pharms 41 medical cannabis authorized pharmacies. The partnership aims to meet the growing demand for medical cannabis products and increase Super-Pharms GMP standard medical cannabis inventory. This partnership is a significant milestone in Canndocs growth strategy.
Partners
Cellect Biotechnology and Canndoc Ltd. to Enter Into Strategic Pharma Grade Cannabis Commercial Deal for Reduction in Opioid Usage BioSpace
Cellect Biotechnology has entered into a commercial binding Letter Of Intent (LOI) with Canndoc Ltd, a leading pharma grade medical cannabis pioneer. Cellect will acquire from Canndoc all rights to the use of Canndoc products for the reduction of opioid usage, including accumulated data and ongoing clinical trials. Canndoc will supply Cellect with a minimum of 6 tons of GMP pharma grade cannabis products over the next five years, valued at $18 million USD. Cellect will issue 1,023,720 ADRs representing 19% of Cellects share capital to Canndoc. The companies are also considering a full merger. Cellect will acquire all of Canndocs outstanding shares from Intercure in exchange for additional Cellect ADRs, resulting in Cellect owning approximately 95% of the merged company. The proposed merger is subject to approval and is expected to close in Q2 2020.
PartnersAcquisition
Intercure signs huge cooperation deal with Tilray
Intercure subsidiary Canndoc has signed a cooperation agreement with Tilray, allowing Canndoc to import 2.5 tons of Tilrays cannabis products for marketing in Israeli pharmacies. Canndoc will also export five tons of cannabis to Tilray for marketing under the Tilray brand, pending approval for exports from Israel. This agreement marks the first legal commercial cannabis import deal in Israel and positions Canndoc at the forefront of the industry. The cooperation between Canndoc and Tilray aims to offer a broad range of high-quality cannabis products for the benefit of patients in Israel and worldwide. Tilray becomes the first company to ship medical cannabis into Israel.
PartnersCustomers
InterCure starts study of cannabis for autistic children
Israeli medical cannabis company InterCures subsidiary Canndoc is financing a clinical research program on children with autistic spectrum disorder at Shamir Medical Center in Israel. The program, led by Dr. Orit Stoller and Prof. Mati Berkovitch, will involve 100 patients and last for 24 months. Canndoc will finance the entire cost of the study. Canndoc already supplies cannabis-based products to children with autistic spectrum disorder and plans further clinical trials for various indications. The study aims to test the effect of treatment with medical cannabis on cognitive functionality and symptoms associated with autism.
Customers
https://www.jpost.com/Israel-News/Teva-joins-medical-cannabis-market-with-Israel-distribution-deal-601610
Teva Pharmaceutical Industries subsidiary, Salomon, Levin, Elstein (S.L.E.), has signed a distribution agreement with Israeli therapeutic company Canndoc. S.L.E. will distribute Canndocs GMP-approved medical cannabis products to pharma clients in Israel, with the potential for exporting to other countries. Canndoc is a subsidiary of InterCure, chaired by former prime minister Ehud Barak. The initial distribution deal is for three years, with the option to extend. InterCure has also received permission to commence nine medical cannabis clinical trials.
PartnersCustomersExpand
Exclusive: One Of The Largest Pharma Companies In The World Has Made A Big Move In Cannabis
Teva Pharmaceuticals subsidiary signs a deal with Canndoc to distribute medical cannabis products in Israel and potentially export to other countries. The agreement allows Teva to leverage its pharmaceutical distribution network with Canndocs market leadership in the medical cannabis industry. This deal represents a significant opportunity for growth for both companies.
Partners
Former Major General Steps Down as CEO of Cannabis Cultivator Canndoc
Major general (ret.) Nitzan Alon is stepping down as CEO of Canndoc Ltd., a cannabis cultivator. Alon will continue as an advisor to the company, while Alon Granot, the deputy chairman, has been promoted to CEO. Canndoc was acquired by InterCure Ltd. in September 2018. In November, Adam Neumann, co-founder and former CEO of WeWork, invested $5 million in InterCure for a 4.5% stake in the company.
Management Changes
InterCure's Canndoc sets up second cannabis farm
Medical cannabis company Canndoc, owned by InterCure Ltd., is establishing a second large facility in southern Israel for cannabis production. The company currently grows cannabis on a small scale and is expanding its operations to meet the growing demand, both domestically and internationally. The new facility, which will be gradually introduced, has the potential to produce 100 tons of cannabis. InterCure raised NIS 67 million from the Fegel group for the investment in the facility and is planning a Nasdaq offering. The companys share price increased by 4.55% following the announcement. The facility is expected to create direct and indirect jobs in the area.
InvestmentExpand
InterCure Subsidiary Canndoc Files Confidential Nasdaq Prospectus
Israeli cannabis cultivator Canndoc Ltd. has submitted a confidential prospectus for a Nasdaq initial public offering (IPO). Parent company InterCure Ltd. announced the IPO intentions. Canndoc intends to list 15%-20% of its shares. Canndoc is one of nine licensed cannabis growers in Israel. In 2018, Canndoc reported revenues of NIS 7 million ($1.97 million) and a net profit of NIS 700,000 ($196,600). InterCure closed 2018 with an annual loss of NIS 12.7 million ($3.57 million).
Public Trading
InterCure buys medical cannabis co Canndoc
InterCure Ltd.s share price has risen 120% this week and 520% since June following its acquisition of Canndoc, a medical cannabis company. InterCure had previously invested in other medical companies, but its entry into the cannabis field has significantly boosted its share price. Altshuler Shaham is one of the investors in InterCure and has seen a 300% return on its investment. Canndoc is one of the few cannabis companies with substantial cannabis marketing activity and has been selling directly to consumers for a decade. InterCure acquired Canndocs shares for a total of NIS 9.2 million. The event described in the article occurred on September 4, 2018.
Acquisition
