Alvit LCS Pharma: Manufacturing and licensing agreement with the Israel's largest Medical Cannabis Company Bazelet
TEL AVIV, Israel - October 24, 2018 (Investorideas.com Newswire) Israel's largest medical cannabis company Bazelet signed a manufacturing and licensing agreement with Israeli medical cannabis pharmaceutical product developer Alvit LCS Pharma to manufacture, market, and sell Alvit's line of pharma grade medical cannabis products in Israel and the EU. These products include sublingual tablets, oral sprays, extended release, delayed release, and suppositories containing Bazelet's proprietary and patent-pending active pharmaceutical ingredient (API). Bazelet will manufacture the products in its recently completed, state of the art, fully GMP compliant manufacturing facility, and expects to begin marketing the products in the first half of 2019.
Bazelet and Alvit additionally signed a joint research and development agreement to develop a new pharmaceutical drug for the treatment of Inflammatory Bowel Disease (IBD) based on Bazelet's API. Alvit will be responsible for researching and developing a pharmaceutical product based on Alvit's unique drug delivery technologies and Bazelet's API.
Meir Ariel, CEO of Bazelet commented: "The addition of Alvit's medical cannabis product line to our other medical cannabis offerings further strengthens and fortifies Bazelet's already leading position in the Israeli Medical Cannabis market, and further expands our product offerings as we prepare to enter into the European marketplace. These products are also a perfect complement to our direct to consumer distribution model, allowing us to directly educate consumers about the benefits of each product type."
Regarding the research and development agreement to create a pharmaceutical drug for the treatment of IBD based on Bazelet's unique API, Mr. Ariel further commented "We have invested a lot into our strong and creative R&D scientists and are very excited to be moving forward with Alvit to research and develop a pharma grade product for the treatment of IBD based on our unique API. We have over 1,000 patients that suffer from IBD, and the agreement with Alvit is a big step forward to finding the right way to deliver this API for the maximum benefit of the patients."
Yona levy, CEO of Alvit stated "We have been developing our line of advanced medical cannabis products for the last 5 years and are excited to be partnering with the industry leader Bazelet to begin manufacturing and distributing our product line. We already have several products undergoing clinical trials and this agreement was a natural next step for our company. We look forward to working with Bazelet to both manufacture and distribute our products, and to research and develop an IBD product based on Bazelet's unique API."
Bazelet is an Israeli medical cannabis company that provides medical cannabis products to its patients since 2014. The capacity of Bazelet's new, state of the art manufacturing plant is large enough to supply the cannabis needs of 100,000 patients. Bazelet securely delivers its products to the homes of thousands of patients every month, and runs an in-house laboratory to analyze its products confirming their composition, quality, and reproducibility.
Bazelet talks to and personally meets thousands of patients every month, starting with the guidance of newly-licensed patients on how to correctly use their medical cannabis. Bazelet experts have already conducted more than 40,000 guidance session. Bazelet studies its patients' medical needs and personal conditions (age, other medications, lifestyle, etc.) and guides them on selecting the most suitable products and delivery methods for their needs. Bazelet employs highly-experienced pharmacists, naturopaths and herbal-treatment experts to provide the best advice to patients.
Bazelet's scientists have developed proprietary technologies for improved production and a range of new compositions of improved therapeutic efficacy. Bazelet's intellectual property portfolio includes 18 families of patent applications.
Alvit is an international leader in the development of products based on standardized cannabis extracts. Alvit's products are differentiated by the fact that they have undergone clinical trials to prove their efficacy and bioavailability. These pharma grade, clinically tested products speak the language of doctors, allowing them to know how much cannabis is being delivered to the body, how much is being absorbed into the body, and for what duration it is effective in the body, providing them the knowledge they need to more effectively prescribe cannabis to patients. In Israel, Alvit directly controls a cannabis research license, and through its Israeli subsidiary Tefen (TLV:TEFN) controls cannabis licenses for propagation and cultivation.
Internationally, Alvit controls licenses in the EU, Canada, and South America to research, import, cultivate, sell, and export medical cannabis and related products.
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