EPM

growth-negative

EPM has announced the cancellation of its public offering in Israel due to significant changes in the stock market conditions. The company had already raised approximately 26 million shekels, which accounted for 57% of the target amount. The company will consider alternative proposals and return the funds to investors within 14 days. The decision was made to protect the value for investors in the current market situation. EPM will continue its development privately and invites interested investors to explore investment opportunities.

growth-negative

Cannabis-based drug development company EPM has halted its offering and is in danger of cancellation. The company sought to raise NIS 44 million through crowdfunding website Fundit but has only received orders for NIS 18 million so far. The offering has been accompanied by an aggressive television campaign, but the Israel Securities Authority (ISA) requested that the company republish the prospectus and remove certain information from its advertisements. EPM has ceased accepting further orders for 14 days and will seek a renewed permit from the ISA. If the offering is not completed, investors will be refunded. The company has yet to record revenue and has accumulated losses of $15 million.

growth-positive

Israeli company EPM is going public on the Israeli stock exchange and aims to develop innovative drugs inspired by the cannabis plant to treat Frader-Willi syndrome and psoriasis. The company has successfully developed 14 innovative molecules from the plant and will begin clinical trials in the coming year. EPMs goal is to create prescription drugs with minimal side effects and increased effectiveness. The company works with leading research institutes and universities in Israel and around the world, as well as key figures from the pharmaceutical industry. EPMs entry into the local capital market is seen as a growth-positive move.

growth-positive

EPM, led by Prof. Raphael Mechoulam, is conducting research on cannabis-derived acids that could bridge the funding gap in medical cannabis research and development. The company plans to register on the Tel Aviv Stock Exchange in 2021. Cannabis acids are a new avenue for research and have the potential to be more potent, cost-effective, and have fewer side effects than current treatments. EPM has synthesized molecules in a lab that replicate the structures of cannabis acids, allowing for large-scale production without relying on living plants. These molecules have the potential to be developed into several drugs. The findings regarding anti-inflammatory drugs are particularly significant, as synthetic cannabis acids could provide alternatives for diseases such as Crohns and colitis. EPM collaborates with research institutes and has facilities and offices in multiple countries.

growth-positive

Israeli chemist Raphael Mechoulam and a group of researchers have developed a process for creating synthetic, stable cannabis acids, including acid versions of CBD and THC. The discovery, made in partnership with startup EPM, paves the way for drug companies to potentially develop new drugs for a variety of health issues. The research is backed by six universities in Israel, the UK, and Canada, as well as the worlds largest topical cream company and a publicly traded laboratory company. EPM plans to offer their Active Pharmaceutical Ingredient to pharmaceutical companies on a licensing basis. The first applications of the compound are expected to enter Phase 1 of FDA testing in six to 12 months.