Canonic Ltd., focused on the development of medical grade cannabis products and a wholly owned subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN), today announced the launch of its second-generation products in Israel. The design of the new products leverages market feedback since Canonic’s launch of its first-generation products in Israel in September 2021. The first new product from the second-generation product-line is expected to debut for patients in early October 2022. The rest of the second-generation product line will follow during the last quarter of the year through the first quarter of 2023.
Canonic’s second-generation products are characterized by high THC and unique terpene profiles. THC is the primary psychoactive ingredient in cannabis. Terpenes are plant compounds known to have complementary medicinal benefits, including anti-inflammatory, analgesia, anxiolytic, antidepressant, anti-insomnia and more. They also influence aroma and scent of the cannabis inflorescence.
The new products were developed through breeding programs carried out by Canonic in the last two years and include the use of proprietary sets of novel genetic markers developed in collaboration with Evogene using its GeneRator AI tech-engine. The use of genetic markers directs and accelerates the breeding process in reaching unique cannabis lines that meet market requirements.
Arnon Heyman, Chief Executive Officer of Canonic, commented, “We are happy to have reached this milestone, representing the fruits of our development work over past years. We have succeeded in increasing the cannabinoid and terpene concentration, known to relieve many symptoms and improve overall well-being, meeting patient demands within a concise timeframe. This was enabled using advanced computational technology, in combination with proprietary sets of novel genetic markers and other advanced breeding methods, developed by Canonic and Evogene. In addition, the announcement we published last week regarding the licensing agreement for the commercialization in Europe of two next-generation cannabis lines by GroVida, is supporting proof of the uniqueness and commercial potential of the new generation of products developed by Canonic.”