Canonic announces the full commercial launch of its first medical cannabis products in Israel

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In September and October 2021, Canonic ran a pre-launch campaign promoting the G200 and G150 Israel to a limited number of approved patients through selected pharmacies. After positive feedback in the pre-launch campaign, which indicates a high level of patient satisfaction with the quality and positive effect of the products, Canonic decided to launch the full commercial launch of these products in Israel. This was before the originally planned launch, which was scheduled for 2022. These products will be readily available to consumers in pharmacies everywhere Israel, as of the date of this announcement.

With regard to product production for the next year, as announced in the past, Canonic’s business model, which is based on the production of products by external producers and manufacturers, gives the company relative flexibility in meeting market demand.

There are more than 100,000 approved patients in Israel who consumed about 27 tons of cannabis in the first 8 months of 2021[5], and the entire medical cannabis market in Israel is appreciated on $ 260 million per year[6]. Industry estimates suggest that the number of patients in the Israeli market will more than double by 2025 based on current growth rates.[7]

DR. Arnon Heyman, Canonic CEO, said, “We are very pleased to have reached this milestone ahead of schedule. This follows the very encouraging market feedback we have received from patients, indicating potential market demand for our products. Our launch is a important milestone in moving closer to our vision of becoming a global leader in medical cannabis. We see its launch in today Israel as just the beginning of our journey and our longer term goal is to expand into additional overseas markets, with European markets being our next destination. “

Mr. Ofer Haviv, Chairman of Canonic and CEO & President of Evogene, said, “I am pleased to see that Canonic has built an impressive operation in a very short space of time with the launch of the first commercial sale of medical cannabis, the key role Evogene has played in that success and supports product development with our unique platform and Computational Biology Tech Engine GeneRator AI. We look forward to Canonic continuing to meet and exceed expectations and goals in delivering exceptional products to patients. ”

About Canonic Ltd .:

Canonic is a subsidiary of Evogene Ltd. (NASDAQ: EVGN, TASE: EVGN), which develops medical cannabis products using a Computational Predictive Biology (CPB) platform. The company’s products under development aim to improve drug yield, genetic stability and cannabis strains for specific medical indications. The company’s strategy includes developing cannabis strains to market medicinal cannabis products independently or through collaborations. Canonic has exclusive access to Evogene’s genome assets and technologies for the development of medical cannabis products. Further information can be found at: https://www.canonicbio.com/.

About Evogene Ltd .:

Evogene (NASDAQ: EVGN, TASE: EVGN) is a leading computational biology company focused on revolutionizing product research and development in several life science industries, including human health and agriculture, through the use of its broadly applicable Computational Predictive Biology ( CPB) concentrated. Platform. The CPB platform, which includes a deep understanding of biology through the power of big data and artificial intelligence, is designed to computationally discover and based on the development of life science products based on microbes, small molecules and genetic elements unique way to control. Using the CPB platform, Evogene and its subsidiaries are now developing product pipelines for human microbiome-based therapeutics through Biomica Ltd., medical cannabis through Canonic Ltd., ag-biologicals through Lavie Bio Ltd., ag-chemicals through AgPlenus Ltd. and ag-solutions for castor oil production by Casterra Ltd. Further information is available at: www.evogene.com.

Forward-looking statements:

This press release contains “forward-looking statements” regarding future events. These statements may be identified by words such as “may,” “could,” “expects,” “intends,” “anticipates,” “plans,” “believes,” “plans,” “estimates,” or words having similar meanings. For example, Evogene and Canonic use forward-looking statements in this press release when discussing Canonic’s production plans and capabilities for 2022, plans to expand operations and enter additional markets, and anticipated cannabis market growth and patient numbers. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events and involve certain risks and uncertainties that are difficult to predict and are not guarantees of future performance. As a result, actual future results, performance, or accomplishments of Evogene and its subsidiaries could differ materially from those expressed or implied in these forward-looking statements, including without limitation, due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries , the risk factors included in Evogene’s reports to the relevant securities authorities. Evogene and its subsidiaries disclaim any obligation or obligation to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, forecasts and assumptions.

[1] T20 / C4 category means 17%-24% THC & 1% -7% CBD.

[2] The category T15 / C3 means 11% -19% THC & 0.5% -5.5% CBD.

[3] Tetrahydrocannabinol (THC) is the main psychoactive component of cannabis and one of at least 113 cannabinoids identified in the plant.

[4] Such traits can include inflorescence size, density, fragrance, and overall appearance.

[5] Please note that the source is in Hebrew: https://www.health.gov.il/Subjects/cannabis/Documents/licenses-status-august-2021.pdf

[6] https://finance.walla.co.il/item/3428846

[7] Please note that the source is in Hebrew: https://www.bizportal.co.il/capitalmarket/news/article/786443

SOURCE Canonic