OWC PHARMACEUTICAL RESEARCH CORP. (OTCMKTS:OWCP) Files An 8-K Other Events
Item 8.01 Other Events.
OWC PHARMACEUTICAL RESEARCH CORP. REPORTS POSITIVE SAFETY DATA FROM
PHASE 1 (SAFETY) CLINCIAL TRIAL FOR MEDICAL GRADE CANNABIS OINTMENT FOR TREATMENT OF SKIN DISEASES
Ramat Gan, Israel, January 29, 2019 –OWC Pharmaceutical Research Corp. (OTCQB: OWCP), a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today reported positive Phase 1 safety data for its medical grade cannabis MSG ointment for the treatment of skin diseases. No severe adverse events were observed in the trial. The Company is on track to initiate a Phase 2 trial of MSG ointment for the treatment of psoriasis during the third quarter 2019.
This Phase 1 trial was a single center, prospective, placebo-controlled, study to assess the safety and tolerability of topical MGC ointment (3% CBD, 3% THC) in healthy subjects. The study was conducted at Sheba Academic Medical Center in Israel between September 2017 when the first subject entered the study and January 2019 when the last subjected completed the study.
The Study was divided into two stages:
Stage I was designed to evaluate the safety and tolerability following a single dose application of MGC ointment in 26 healthy volunteers. Subjects were hospitalized and monitored for 24 hours. Stage 2 was designed to assess the safety and tolerability of repeated applications of MGC topical ointment in healthy volunteers over a six week period. A total of 20 healthy subjects (13 subjects that participated in stage I and 7 newly recruited subjects) participated in this stage. MSG ointment treatment was applied by the subjects themselves, at home, twice daily. Subjects were asked to apply MGC ointment (daily dose of 30 mg CBD: 30 mg THC) on one arm and a placebo ointment (vehicle only) on the other arm. Investigators were blinded as to the type of treatment that was applied to each arm.
No severe adverse events were observed in either stages of the study. Minor irritation was observed in one subject.
About OWC Pharmaceutical Research Corp
OWC Pharmaceutical Research Corp., through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., (collectively ‘OWC’ or the ‘Company’) conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines.
OWCP is also developing unique and effective delivery systems and dosage forms of medical cannabis. All OWC research is conducted at leading Israeli hospitals and scientific institutions and led by internationally renowned investigators.
Contact: Mordechai Bignitz , Chief Executive Officer – OWC Pharmaceutical research crop,
About OWC PHARMACEUTICAL RESEARCH CORP. (OTCMKTS:OWCP)
OWC Pharmaceutical Research Corp. is a medical cannabis research and development company. The Company is engaged in the research and development of cannabis-based medical products (the Product Prospects) for the treatment of multiple myeloma, psoriasis and fibromyalgia, as well as development of a cannabis soluble tablet delivery system that has applications for other indications. The Company also provides consulting services to governmental and private entities to assist them with developing and implementing various medical cannabis programs. As of September 30, 2016, the Company was engaged in two business activities: work with GUMI to commercialize and market the Company’s Electromagnetic Percussion Device (the Device), and research and development of Cannabis-based medical products for the treatment of a range of medical conditions and/or diseases, such as multiple myeloma, psoriasis, post-traumatic stress disorder (PTSD) migraines and a delivery system.