In a share purchase agreement with Xinteza API Ltd, IM Cannabis Corp has invested in a unique biosynthesis technology

In a share purchase agreement with Xinteza API Ltd, IM Cannabis Corp has invested in a unique biosynthesis technology

IM Cannabis Corp, one of the world ‘ s pioneers and innovators in the field, is pleased to announce that it has invested in a unique biosynthesis technology through the conclusion of an agreement between Xinteza API Ltd and medical cannabis companies operating in Israel and throughout Europe on 26 December 2018. For consideration of up to US$ 1.7 million, the company will acquire 25 percent of the outstanding common shares of Xinteza. Investment from IMC will be financed by existing cash.

Xinteza develops advanced proprietary technologies related to disruptive plant genetics and metabolomics research under an exclusive license by the Yeda Research & Development Company Ltd., a trading group in Professor Asaph Aharoni’s Weizmann Institute of Science, one of the world’s leading multidiscipline fundamental science and science research institutes.

In the Israeli cannabis research and development sector, IMC invests in the production of cannabis medicines and medical equipment, both on the local and international markets.

This investment provides IMC with an excellent opportunity to deliver on its strategy’s research and innovation component. The country has been one of the world’s leading researchers and developers of cannabis-based innovation for decades and has achieved very significant intellectual property at the WEIZMANN Institute of Science.

IMC is an international medical cannabis company and a popular Israeli medical cannabis brand. In Europe, IMC has initially established its distribution subsidiary in Germany as a medical cannabis operation and has increased its focus through Strategic Agreements with EU-GMP Standard Certified Providers, making it one of the few fully integrated European medical cannabis companies.

IMC’s core Israeli business involves providing Israel’s market for medical cannabis with branding, know-how, and other intellectual property services. Their main assets in Israel include trade agreements with licensed producers and an option to buy licensed companies. IMC has been engaged in developing and investing in innovative technology to enhance the reputation and expertise of global medical cannabis users in their operations.