One World Cannabis Pharmaceutical Research (OWCP) and mediq Innovation Experts have partnered to introduce OWCP’s cannabinoid-based topical psoriasis cream in Germany.
Germany-based mediq has extensive experience in assisting companies based in Israel enter European markets. Under the new agreement, mediq will support OWCP with both a scientific collaboration and in marketing its active cannabinoid-based topical psoriasis cream in Germany.
OWCP recently reported the initial results from a clinical trial evaluating the cannabinoid-based topical cream for the treatment of psoriasis. According to the results, the cream led to a 70 percent improvement in psoriasis-related inflammation parameters. Based on the promising study data, the company said it will expand the size and scope of its clinical trial.
In April, the company said it will provide more details of the study upon availability of final data, and completion of what it calls the full “Bio-Data IP Protection.”
“We’re looking forward to initiating our efforts on behalf of OWCP in Europe, starting in our home market of Germany,” Jan Wende, managing director of mediq, said in a press release. “Since German laws and regulations allow non-smokable forms of medical cannabis, we believe that OWCP’s proprietary cannabinoid-based topical psoriasis cream is the right product at the right time.
“Furthermore, Germany is the largest European healthcare market and therefore offers the perfect platform to gain local evidence and roll out the concept into other European countries,” Wende added. “Our initial focus for OWCP is on the German market, however, we’re excited about the long-term opportunities throughout Europe, a market with a population of over 740 million.”
Alon Sinai, managing director of One World Cannabis, said the German market is a great opportunity for OWCP.
“Germany, with its population of over 81 million and a gross domestic product of over US $3.36 trillion, is the largest economy in Europe,” Sinai said. “Also potentially beneficial to OWCP is Germany’s recent medical cannabis legislation, which currently limits the usage of smokable products, and which also provides for reimbursement for medical cannabis by the country’s healthcare system.”
Sinai said mediq is a “great partner” for OWCP. He said the company is looking forward to a long-term relationship with mediq for both the introduction of OWCP’s cannabinoid-based psoriasis cream in Germany “and for the prospects for scientific collaboration in the country.”