Tikun Olam Overview
Tikun Olam specializes in breeding proprietary cannabis strains and developing standardized, accurately dosed products. The companys production techniques are focused on increasing the efficacy of the plants active ingredients. Tikun Olams products are used in a number of ongoing clinical trials in Israels regulated medical cannabis market. Tikun Olam also operates Tikun Olam Care, a professional cannabis nursing clinic that provides safe and personalized treatment for a variety of medical conditions to more than 20,000 patients of all ages. In early 2020, Cannbit Pharmaceuticals acquired Tikun Olam for $23 million, in addition to 5% of the its shares and other amounts based on the companys success.
Latest News
growth-positive
Medical Cannabis Pioneer Can Now Export To Europe
Cannbit-Tikun Olam Israel, the first medical cannabis firm in Israel, has received certification from the German Federal Ministry of Health to export its products to Germany, Austria, and Switzerland. This move is seen as a significant strategic breakthrough for the company and the entire Israeli cannabis industry. The company aims to provide an alternative to chemical drugs and improve patients quality of life worldwide. They have developed proprietary strains of cannabis and conducted numerous clinical and preclinical studies in collaboration with leading doctors, hospitals, and universities in Israel. Cannbit-Tikun Olam was founded in 2006 and was acquired by Cannbit Pharmaceuticals in 2019.
PartnersCustomers
growth-positive
Teva and Tikun Olam-Cannbit sign medical cannabis deal
Teva Israel has signed its first commercial agreement with Tikun Olam-Cannbit Pharmaceuticals for the marketing and distribution of medical cannabis oil in Israel and the Palestinian Authority. The agreement allows Tikun Olam-Cannbit Pharmaceuticals to extract THC and CBD oils from Cannbits strains, which will be marketed and distributed by Teva Israel. The partnership aims to provide additional treatment options for patients and improve their lives. The agreement is expected to position both companies as leading players in the medical cannabis market in Israel and worldwide. The companies will collaborate for 10 years, with an option to extend the agreement for another 9 years.
Partners
growth-positive
Tikun olam-Cannbit continues to expand its footprint in the pharmaceutical arena
Tikun-Olam Cannbit has entered into a partnership with Wavelength, an Israeli company that develops and exports active pharmaceutical ingredients (APIs) for the pharmaceutical industry. The partnership aims to jointly develop, manufacture, and market cannabis-based raw materials for the pharmaceutical industry. Wavelength, a portfolio company of SK Capital Partners, has a leading technology plant that operates in compliance with industry quality standards. The partnership is expected to target the global pharmaceutical market in light of regulatory changes regarding cannabis exports. The partnership is seen as a significant step forward for Tikun-Olam Cannbit in the medical cannabis industry and the pharmaceutical sector.
Partners
growth-positive
Tikun Olam-Cannbit takes another step into the pharmaceutical arena
Tikun Olam Cannbit has acquired 20% of Gynica, a leading Femtech company that develops cannabinoid-based solutions for womens health. The acquisition is part of Tikun Olam Cannbits strategy to become a cannabis-based pharmaceutical company. In exchange for the shares, Tikun Olam Cannbit will provide Gynica with services for the development of vaginal suppositories, lubricating gel, and other products containing cannabinoids. They will also fund a clinical trial and provide scientific advisory services and raw medical cannabis materials. The companies will collaborate on a joint clinical study for a cannabis-based vaginal product to treat gynecological problems. The partnership aims to improve the quality of life for women who have not received a safe and proper solution for their symptoms. The market for these products has strong potential, particularly in Canada, Australia, and the UK.
PartnersInvestment
growth-positive
https://www.jpost.com/israel-news/israeli-medical-cannabis-company-tikun-olam-to-supply-uk-with-products-667028
Tikun Olam Cannbit Pharmaceuticals has signed a three-year agreement with ITH Pharma UK to distribute its medical cannabis oils in the UK and Northern Ireland. The deal is valued at NIS 37 million. This partnership is part of Tikun Olams efforts to increase its international market share in the supply of medical cannabis. The company has also entered the Brazilian market for the first time through an agreement with Brazils Ease Labs.
Partners
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | Undisclosed |
| Last funding | Undisclosed |
| Stage | Public |
| Rounds | 0 |
| Investors | 0 |
Team Members
3
Employees: 11-50
Web & Social Links
| Website | tikunolam.com/ |
| Careers | Careers page |
Locations
Nof HaGalil, Israel
Kfar Yehoshua, Israel
Neot HaKikar, Israel
Photos & Videos
1 item(s)
Tikun Olam Business
Business models
B2B2C, B2B
Product stage
Released
Employees
11-50
Sector
Agriculture & Food TechnologiesAg TechFarm Equipment & TreatmentHealth Tech & Life SciencesPharma & Medical BiotechnologyMedical CannabisTarget Customer
Healthcare & Life SciencesLife SciencesPharmaceuticalsCore Technology
Materials & SubstancesRaw MaterialsTags (8)
biotechnologycropspharmaceuticalscannabisbreedingagtechmedical-cannabiscancerGeographic Markets
United StatesIsraelAustraliaGreeceUnited KingdomBrazilCanadaTikun Olam Financials
Undisclosed
Total funding
—
Capital raised
Undisclosed
Last funding
Public
Funding stage
0
Total rounds
0
Investors
Public Offering / Exit
ReverseMergerEvent
Jan 2020
Undisclosed
MNAEvent
Nov 2019
$23M
Tikun Olam Lifecycle
All Events
ReverseMergerEvent
Jan 2020
Undisclosed
MNAEvent
Nov 2019
$23M
Tikun Olam News
28 articles
growth-positive
Medical Cannabis Pioneer Can Now Export To Europe
Cannbit-Tikun Olam Israel, the first medical cannabis firm in Israel, has received certification from the German Federal Ministry of Health to export its products to Germany, Austria, and Switzerland. This move is seen as a significant strategic breakthrough for the company and the entire Israeli cannabis industry. The company aims to provide an alternative to chemical drugs and improve patients quality of life worldwide. They have developed proprietary strains of cannabis and conducted numerous clinical and preclinical studies in collaboration with leading doctors, hospitals, and universities in Israel. Cannbit-Tikun Olam was founded in 2006 and was acquired by Cannbit Pharmaceuticals in 2019.
PartnersCustomers
growth-positive
Teva and Tikun Olam-Cannbit sign medical cannabis deal
Teva Israel has signed its first commercial agreement with Tikun Olam-Cannbit Pharmaceuticals for the marketing and distribution of medical cannabis oil in Israel and the Palestinian Authority. The agreement allows Tikun Olam-Cannbit Pharmaceuticals to extract THC and CBD oils from Cannbits strains, which will be marketed and distributed by Teva Israel. The partnership aims to provide additional treatment options for patients and improve their lives. The agreement is expected to position both companies as leading players in the medical cannabis market in Israel and worldwide. The companies will collaborate for 10 years, with an option to extend the agreement for another 9 years.
Partners
growth-positive
Tikun olam-Cannbit continues to expand its footprint in the pharmaceutical arena
Tikun-Olam Cannbit has entered into a partnership with Wavelength, an Israeli company that develops and exports active pharmaceutical ingredients (APIs) for the pharmaceutical industry. The partnership aims to jointly develop, manufacture, and market cannabis-based raw materials for the pharmaceutical industry. Wavelength, a portfolio company of SK Capital Partners, has a leading technology plant that operates in compliance with industry quality standards. The partnership is expected to target the global pharmaceutical market in light of regulatory changes regarding cannabis exports. The partnership is seen as a significant step forward for Tikun-Olam Cannbit in the medical cannabis industry and the pharmaceutical sector.
Partners
growth-positive
Tikun Olam-Cannbit takes another step into the pharmaceutical arena
Tikun Olam Cannbit has acquired 20% of Gynica, a leading Femtech company that develops cannabinoid-based solutions for womens health. The acquisition is part of Tikun Olam Cannbits strategy to become a cannabis-based pharmaceutical company. In exchange for the shares, Tikun Olam Cannbit will provide Gynica with services for the development of vaginal suppositories, lubricating gel, and other products containing cannabinoids. They will also fund a clinical trial and provide scientific advisory services and raw medical cannabis materials. The companies will collaborate on a joint clinical study for a cannabis-based vaginal product to treat gynecological problems. The partnership aims to improve the quality of life for women who have not received a safe and proper solution for their symptoms. The market for these products has strong potential, particularly in Canada, Australia, and the UK.
PartnersInvestment
growth-positive
https://www.jpost.com/israel-news/israeli-medical-cannabis-company-tikun-olam-to-supply-uk-with-products-667028
Tikun Olam Cannbit Pharmaceuticals has signed a three-year agreement with ITH Pharma UK to distribute its medical cannabis oils in the UK and Northern Ireland. The deal is valued at NIS 37 million. This partnership is part of Tikun Olams efforts to increase its international market share in the supply of medical cannabis. The company has also entered the Brazilian market for the first time through an agreement with Brazils Ease Labs.
Partners
growth-positive
https://www.jpost.com/israel-news/israeli-medical-cannabis-company-signs-deal-to-export-to-brazils-market-666943
Israeli medical cannabis company Tikun Olam Cannbit Pharmaceuticals has entered the Brazilian market for the first time through a partnership with Brazilian company Ease Labs. Ease Labs will purchase and distribute a quarter ton of CBD and THC oil and other medical cannabis products in Brazil. The agreement is seen as a growth-positive move for Tikun Olam Cannbit Pharmaceuticals, as it allows them to tap into one of the largest growing markets in South America. The partnership aims to provide therapeutic products to oncology patients and chronic pain sufferers in Brazil at affordable prices. Tikun Olam Cannbit Pharmaceuticals previously signed a cooperation agreement with British company ITH Pharma for the supply of CBD oil and other medical cannabis products in the UK.
CustomersPartners
growth-positive
"קיבלתי חברה נקייה. החלטתי להסתער על ענף הקנאביס ולהקים את טבע הבאה"
Former Teva Israel CEO, Avinoam Sapir, plans to transform Tikun Olam Cannbit into a cannabis-based pharmaceutical company. He believes that cannabis has the potential to replace certain medications, citing personal experiences with the plants medicinal properties. This comes a year after Sapir took over as CEO of the cannabis company.
Expand
growth-positive
הקנאביס מתמסד: תיקון עולם תנפיק קנאביס רפואי עבור מבוטחי קופ"ח מאוחדת
Medical cannabis company Tikun Olam Canbit has signed an agreement with the health fund, United Health Services, to issue medical cannabis for its insured members. As part of the agreement, Tikun Olam will match its medical cannabis products to Uniteds insured members and will be the one to issue and distribute them. The company will also provide and guide all the health funds doctors on the subject of medical cannabis and treatment with it, and the parties will examine the execution of joint research based on the information accumulated from the joint treatment of the insured.
PartnersCustomers
growth-positive
קרן ספרה תהפוך לבעלת ענין בחברת הקנאביס תיקון עולם
קרן ספרה, along with חברת הביטוח והגמל הפניקס, will invest approximately 12 million shekels in תיקון עולם קנביט פארמסוטיקלס, acquiring a 5.15% stake in the company. תיקון עולם קנביט פארמסוטיקלס has issued 2 million new shares at a price of 5.75 shekels per share. As a result, ברק רוזןs ownership in the company will decrease to 18.5% and חברת הביטוח והגמל הפניקס-אקסלנס will maintain a 5.31% stake. קרן ספרה is a prominent Israeli investment fund with approximately 6 billion shekels in assets under management. The investment is expected to increase תיקון עולם קנביט פארמסוטיקלס revenues by approximately 70 million shekels and could have a significant impact on the Israeli cannabis market.
Investment
growth-positive
https://www.jpost.com/israel-news/israeli-company-develops-system-to-identify-track-cannabis-strains-656921
Tikun Olam Cannbit has completed development on a Cannabis Genetic Fingerprint (CGF) system that can accurately identify individual strains of cannabis using genetic sequencing. The system is seen as a game-changer for the cannabis industry, as it can guarantee uniformity and consistency for cannabis products. The CGF system was developed with the support of the Plant Metabolism Laboratory from the MIGAL Galilee Research Institute. It allows for the creation of a permanent and robust biometric ID card for each cannabis strain, improving the overall efficacy of medical cannabis treatments. The system is currently in the commercialization phase and will be available to interested parties in Israel and around the world.
CustomersPartners
growth-negative
Avinoam Sapir: Cannabis is like a medicine
Tikun Olam Cannbit Pharmaceuticals Ltd., a TASE-listed medical cannabis company, acquired Tikun Olam, a leading company in the Israeli medical cannabis market. The acquisition was valued at $23 million, in addition to 5% of Cannbits shares. Since the acquisition, the merged companys share value has fallen 40%. However, the company has raised over NIS 50 million and plans to raise another NIS 12 million in a rights issue. The company aims to meet its revenue forecasts of NIS 43 million in 2020 and NIS 140 million in 2021, with a focus on exports. Tikun Olam Cannbit recently signed a NIS 100 million distribution agreement with Super-Pharm and joined a Ministry of Health pilot program to reduce prices in exchange for export rights. The companys CEO was replaced by Avinoam Sapir, who plans to integrate cannabis activity into the company and conduct clinical trials.
AcquisitionInvestmentExpand
growth-positive
https://www.jpost.com/health-science/israeli-medical-cannabis-company-signs-deal-to-export-to-uk-market-644967
Tikun Olam Cannbit Pharmaceuticals has signed a cooperation agreement with ITH Pharma for the supply of CBD oil and other medical cannabis products in the UK. ITH Pharma will purchase approximately one ton of cannabis oil per year from Tikun Olam Cannbit. The companies plan to establish a joint company for marketing and manufacturing medical cannabis products in the UK. This partnership is part of Tikun Olam Cannbits expansion plans into Europe. The company previously signed a supply agreement with Fette Pharma for the German, Austrian, and Swiss markets. The recent decision by the Israeli Health Ministry to allow the export of medical cannabis has provided new opportunities for Tikun Olam Cannbit.
Partners
growth-positive
Multi-State Cannabis Pioneer Tikun Olam and Maine Grown Announce Partnership to Produce Medical & Adult Use Cannabis Products for the State of Maine
Tikun Olam has finalized an agreement with Maine Grown to bring its cannabis products to Maine. The partnership combines Tikun Olams scientific research and clinical data with Maine Growns expertise in formulating and delivering high-quality cannabis products. Tikun Olam has been producing wellness products for over 10 years, including its high-CBD strain Avidekel™. The partnership aims to deliver superior cannabis products to consumers in Maine, as the state prepares for adult-use cannabis sales.
Partners
growth-positive
קנביט חתמה על הסכם עם סופר פארם המוערך במעל 100 מיליון שקל
Israeli cannabis company Tikun Olam-Canbit has signed a three-year agreement to sell its products through the Super-Pharm pharmacy chain, in a deal worth 100 million shekels. The company has also resumed full production following the inauguration of its factory in Zippori. Tikun Olam-Canbit was acquired by publicly traded company Canbit for $23 million and 5% of the merged companys shares about a year ago. Since the acquisition, Canbits share price has dropped by 46%. Tikun Olam-Canbit is currently valued at 162 million shekels.
PartnersExpand
growth-positive
After buying Tikun Olam, Cannbit raises NIS 26.4m
Cannbit Pharmaceuticals Ltd. has raised NIS 131 million ($38 million) in 2019, more than all other Tel Aviv Stock Exchange-listed cannabis companies combined. This includes NIS 69 million raised in recent weeks from the public, private investors, and two investment institutions. The funds will be used to repay debt, expand its cannabis growing farm and Tikun Olams cannabis processing plant, and for overseas activity. Cannbit also acquired Tikun Olams activity in Israel for $23 million and 5% of Cannabits shares. The company now faces the challenge of regaining customers who abandoned Tikun Olam after a suspension imposed by the Ministry of Health.
InvestmentAcquisitionCustomers
growth-positive
Tikun Olam valuation slashed in Cannbit deal
Cannbit has completed a deal to acquire the Israeli activity of cannabis company Tikun Olam for $23 million and 4.99% of its shares. The deal also includes an additional $18 million if Cannbit reaches NIS 1 billion in revenue within five years. The acquisition price is much lower than the $100 million initially sought by Tikun Olam. The owner of Tikun Olam was forced to sell the Israeli activity due to eligibility issues. The competitive landscape in the Israeli cannabis market has changed, but the Tsiporit plant being built by Cannbit is still seen as an important asset. The agreement also grants Cannbit a franchise to sell Tikun Olams products in France and Poland in exchange for royalties.
Acquisition
Magazine - April 2020
growth-positive
Israel's Cannbit Set To Acquire Tikun Olam's Israeli Operations
Israeli cannabis producer Cannbit is set to acquire the Israeli operations of cannabis company Tikun Olam for about $42 million. If Cannbits market cap reaches $1 billion within five years, the company will pay another $18 million to Tikun Olam. Tikun Olam decided to sell its Israeli business due to delays caused by a planned farm relocation and stricter regulations. Cannbit CEO Ifat Kariv stated that the deal positions Cannbit as a genuine leading company active along the whole value chain.
Acquisition
growth-positive
Cannbit Wins Race for Tikun Olam's Israeli Business
Israeli cannabis company Cannbit Ltd. is acquiring the Israeli business of Tikun Olam Ltd. for NIS 140 million. The acquisition will give Cannbit control of the entire medical cannabis supply chain. Tikun Olams assets include a farm, a manufacturing facility, a clinic, and a customer list. Cannbit may also acquire some of Tikun Olams operations in an undisclosed European country. Cannbit will pay annual royalties to Tikun Olam for the use of the brand and cannabis strains.
Acquisition
growth-negative
Ehud Barak's Company Among Bidders for Israeli Cannabis Company Tikun Olam
Tikun Olam founder Tzahi Cohen has decided to sell the company’s Israeli business after a court ruling. InterCure Ltd., Cannbit Ltd., and Bazelet Group are the remaining bidders for Tikun Olams Israeli cannabis business. Tikun Olam controlled around half of the Israeli market until a supply shortage caused by delays to its planned farm relocation. The Ministry of Health did not reinstate Tikun Olam’s growing license, and the court ruled that Cohen must reduce his stake in the company to under 5% before the license could be reinstated. The current offers for Tikun Olams Israeli assets range between NIS 90 million ($25.5 million) and NIS 150 million ($42.5 million). Tikun Olams business outside of Israel is not for sale.
AcquisitionCustomers
growth-positive
Tikun Hemp Introduces CBD + Turmeric Balm;CBD Lotion
Tikun Hemp has announced the launch of its first CBD topicals, CBD + Turmeric Balm and CBD Lotion. These products are available for purchase on the Tikun Hemp website and are triple-tested, gluten-free, non-GMO, and THC-free. The CBD + Turmeric Balm combines high-quality broad-spectrum CBD oil with turmeric for soothing benefits, while the CBD Lotion is ideal for skin brightening and improving skin tone. Tikun Hemp is a subsidiary of Tikun Olam, the worlds first cannabis company and a pioneer in cannabis science and research. The companys mission is to provide effective cannabis treatments based on research and data. Tikun Olam operates globally and has partnerships in various countries.
Customers
growth-negative
Tikun Olam's Israeli Cannabis Business Up for Sale for $100 Million
Tikun Olam Ltd.s Israeli cannabis business is up for sale, with the founder negotiating a sale for $100 million. The companys medical cannabis growing license was revoked due to the founders controlling stake, which he must reduce to under 5%. The sale is seen as a high valuation by some industry players. Tikun Olam experienced a supply shortage caused by delays in its planned farm relocation, which led to the revocation of its growing license. The companys Israeli assets include a farm, a manufacturing facility, a clinic, and its headquarters. Tikun Olams business outside of Israel is not for sale and includes operations in the U.S., Canada, Australia, and Greece, as well as partnership agreements with non-Israeli entities.
Customers
growth-negative
To Resume Growing Medical Cannabis, Tikun Olam Founder Must Give Up Control
Tikun Olam, a medical cannabis company in Israel, has been ordered by the Jerusalem district court to divest most of its founders stake in the company before it can receive its growing license back. The company was forced to stop supplying buds to patients earlier this year due to regulatory reform by the Israeli Ministry of Health. The ministry recommended against reinstating the license, citing compelling information about the founders participation in the medical cannabis business. Tikun Olam proposed a settlement, but the talks with the ministry failed. The court rejected the companys appeal and ordered it to pay legal expenses. Tikun Olam is now considering its next steps, including a possible appeal to the Supreme Court.
Customers
growth-negative
Health Ministry temporarily closes Tikun Olam cannabis farm
The Ministry of Health has suspended cannabis production by Tikun Olam at its hothouse in Biriya due to unsuitable growing conditions. The closure order is temporary, but it raises questions about the entire industry. Tikun Olam is in the process of moving its production to a new facility that meets proper agricultural production standards. The company still requires approval for the new facility, which means it cannot export or market its products until then. Other cannabis farms have received similar closure orders in the past but were able to resume regular activity after correcting the defects.
Customers
growth-positive
"Next for Tikun Olam: A cannabis pharmacy"
Israeli cannabis company Tikun Olam has seen its value rise to $400m following a merger between Aurora and Medreleaf. Tikun Olam, which owns 5% of Aurora, has a unique business model, exporting its cannabis knowledge in exchange for a percentage of the profits from the companies it advises. This approach has allowed it to expand internationally without diluting its equity. The company is also planning to set up its own pharmacy to sell its products directly to consumers.
AcquisitionExpand
growth-positive
Tikun Olam, the World's Original Medical Cannabis Company, Announces US Expansion of Health & Wellness Brand: Tikun™
Tikun Olam, a science-based cannabis provider from Israel, is launching a new line of clinically-proven cannabis products in the United States. The company has been at the forefront of medical cannabis research and aims to revolutionize health and wellness in the nation. Following a successful pilot program in Delaware, Tikun Olam is expanding its presence in the US with a launch in Nevada. The companys products will be available in various forms, including flower, vape cartridges, topical creams, tinctures, and edibles. The strains have shown positive results in improving the quality of life for patients with various conditions. Tikun Olam plans to continue building upon its trusted heritage and expand its branded products in the US market.
CustomersPartners
growth-positive
Medical marijuana, for babies and desperation
The article discusses the use of medical cannabis, specifically cannabis oil, in the treatment of epilepsy in children. It highlights the case of a 2-year-old boy named Lavie who experienced significant improvement in his seizures after using cannabis oil. The oil, developed by Tikun Olam, a major cannabis grower in Israel, is high in CBD and low in THC. While there is limited research on the efficacy and safety of medical cannabis in infants and children, some studies have shown positive results. However, the medical community emphasizes the need for further scientific studies to validate its efficacy, safety, tolerability, and dosage. The article also mentions the potential risks of THC exposure on the developing nervous system. Overall, the article has a growth-positive impact on Tikun Olam, as it highlights the potential benefits of their medical cannabis products for children with epilepsy.
Customers
growth-positive
Tikun Olam Announces Its First U.S. Partnership
Tikun Olam Ltd. has announced a joint partnership with Compassionate Care Center of New YorkTM and MedReleaf Corp. in New York State. Tikun Olam is the largest producer of medical cannabis in Israel and has the most extensive patient treatment database in the field. The partnership grants CCCNY an exclusive license to Tikun Olams patient treatment database and proprietary medical cannabis strains. Tikun Olams team will work with CCCNY to ensure pharmaceutical-grade products are available to qualifying patients in New York. The partnership aims to provide the best quality and most researched medical cannabis to patients in New York.
Partners
Tikun Olam Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 24 |
| Team members | 3 |
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Admin Info
| Confidence | 92/100 |
| Missing | funding rounds, markets, not claimed |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 512101460 |
| Crunchbase | tikun-olam |
| Phone | +97246918020 |
| Creator | Fredrik Liljedahl |
| Creator email | fredrik.liljedahl@sncentral.org |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2022-11-08T00:00:00.000Z |
| Created | 2017-05-09T00:00:00.000Z |
| Status detail | Acquired by Cannbit on Nov, 2019 |