BYND Cannasoft Enterprises Inc. BCAN BYND announced its Israeli subsidiary signed an agreement with Globus Pharma Ltd, a subsidiary of Israeli-based Together Pharma Ltd TGTR, for the cultivation, production, and distribution of medical cannabis products that are expected to generate significant revenues for the company before costs of manufacturing and distribution fees.
The manufacturing of the medical cannabis products will adhere to BYND Cannasoft's instructions and stringent standards. These products will be exclusively marketed and distributed by BYND Cannasoft in Israel through Globus Pharma. Due to their safety profile and strong therapeutic efficacy, the products are based on strains developed by Together Pharma and selected exclusively by BYND Cannasoft.
BYND Cannasoft’s agreement with Together Pharma will take effect upon the issuance of a full license by the Medical Cannabis Unit at the Ministry of Health of the State of Israel. While BYND Cannasoft has received initial approval from the MCU to engage in medical cannabis without direct contact with the substance, there is no guarantee that it will receive a full license.
Yftah Ben Yaackov, CEO and director of BYND, stated, “The medical cannabis arena is being commercialized rapidly in Israel, and we expect to see more development in Israel and worldwide. Many of today's decision-makers in the pharmaceutical industry and the medical community understand the benefits produced by specific cannabis strains."
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