The Greater Cannabis Company Inc (GCAN) entered into a letter of intent with Israel Cannabis Ltd (iCAN) agreeing to expand distribution of its eluting patch platform into key global markets. The agreement, once coming to
GCAN is a biopharmaceutical company focused on development and commercialisation of innovative delivery systems for the cannabis market, while iCAN is an Israeli developer of cannabis-based formulations, clinical trials and cannabis testing.
The eluting patch platform is an “innovative delivery system, which uses a patented mucoadhesive and multilayered orally dissolving thin film to deliver a precise dose of cannabinoids into the body through the buccal mucosa,” the press release says. Clinical studies funded in part by the US-based National Institutes of Health (NIH) have shown the delivery system’s capability in achieving higher bioavailability and desired results in the body using lower, and controlled, dosing when compared to other routes of administration, according to the press release.
The agreement with
Focusing globally on the cannabis ecosystem, iCAN operates a global platform for distribution of cannabis products through its iCAN Serve unit and works with a portfolio of like-minded companies, including but not limited to CannRx, CMTREX, CannaTech and endoCRO.
“I am very excited about the prospect of offering
“I am pleased to announce our partnership with iCAN,” says Aitan Zacharin, CEO of GCAN. “Saul [Kaye, iCAN CEO] is an industry leader who is at the forefront of everything tech in cannabis. His desire to partner with us is a testament to the strength of our technology and its capabilities. We are excited to establish this important partnership in the medical and adult-use cannabis industry. We are focused on transactions that will accelerate the commercialisation of our products, and the iCAN deal does that globally.
Cannabis in Malta
Views on cannabis have been transforming globally in recent years. Many countries have made measures of decriminalisation, allowing medical usage and some even legalising recreational usage to a certain extent. Malta has already made steps towards decriminalisation and medical usage, in 2015 and 2018, respectively.
New policies were introduced in 2015 in Malta to decriminalise cannabis, though simple possession is still considered as an “arrestable offence”, according to press reports. People caught with quantities smaller than 3.5g of cannabis are subject to fines ranging between €50 and €100, but they do not need to appear in court but before a Justice Commissioner. However, police are allowed to detain people caught with small quantities for up to 48 hours to interrogate them for information to fight drug trafficking.
The Maltese legislation is more lenient towards cannabis than any other drugs. An individual caught possessing small quantities of drugs other than cannabis for the second time in two years will need to appear before the Drug Offenders Rehabilitation Board and attend due rehabilitation. However, in the case of cannabis, offenders are exempted from appearing before the board, regardless of how many times they are caught.
At the same time, pressure had appeared to be growing in terms of the
In 2018, Malta officially legalised medical cannabis. After its third and final reading, amendments to the Drug Dependence Act were enacted by Parliament on the 26th of March. The law allows family doctors to prescribe non-smoking forms of medicine available at pharmacies for patients, after the Superintendent of Public Health has approved of a control card, according to another report by Malta Today.