Israel's Leading Distributor To Begin Supplying Israel's Rapidly Growing Medicinal Cannabis Industry with MGC's Cutting Edge U.S. Technology
BEVERLY, Mass., April 29, 2019 /CNW/ -- Medicinal Genomics Corp. (MGC), a pioneer in genomics and blockchain technology that improves the yield, safety and transparency of cannabis, today announced it has signed a product distribution and sales agreement with Eldan, Petach-Tikva, Israel, the country's leading medical devices and life sciences distributor and a member of the Neopharm Group. The distribution agreement gives Eldan access to the full range of Medicinal Genomics' proprietary cannabis testing platforms for the detection of cannabis genes, genotypes, microorganisms, pests and pathogens on or in cannabis, as well as MGC's full complement of genomics solutions, including the recently announced cannabis pan-genome project.
"We are honored to have Eldan represent MGC in the Israeli market," said Medicinal Genomics' CEO, Brendan Mckernan. "They are, without a doubt, the leading and most respected medical equipment and life sciences distributor in that part of the world. We look forward to working with them to raise the production standards for cannabis yield, safety and research."
The Israeli market has long been known for its role in pioneering cannabis research, beginning with one the giants in the field, Dr. Raphael Mechoulam, the "Father of Cannabis Research," who is also a Medicinal Genomics advisor and frequent speaker at the company's CannMed Conference. As signs that the country's cannabis industry is moving towards normalization, recently Israel voted to decriminalize recreational use, passed approval of cannabis exports, and saw a cannabis technology conference in Tel Aviv draw over 1,000 participants from 45 countries. A survey in 2017 showed that 27 percent of Israelis between the ages of 18 and 27 consumed cannabis in the prior year, one of the highest rates of consumption in any country. Currently, about 35,000 Israelis hold medical cannabis licenses, but usage is expected to jump with the passing of this latest legislation.
"Patient demand in Israel and Europe is big and getting bigger every day. We believe that by making Medicinal Genomics' products available to these growing markets, we can help provide a safer, more consistent product for those who need it most," said Moshe Ben-Simon, SVP of Eldan's Life Science's Division. "We look forward to a long and successful relationship with Medicinal Genomics in Israel and beyond."
Signing Eldan Electronics as its distributor in Israel is the latest in a series of technology licensing and distribution agreements executed by Medicinal Genomics. Other, similar relationships are being forged in South America, Australia, the Far East and the Nordic Countries, as part of a concerted effort by MGC to expand its global footprint.
About Medicinal Genomics Corporation Medicinal Genomics Corporation is a pioneer in advancing the genomics of cannabis to build a stronger scientific foundation for cannabis-based products. The company's unmatched expertise in genetic science helps cultivators, dispensaries and testing laboratories characterize and understand the quality and consistency of cannabis to ensure patients and consumers access to consistently safe, high quality cannabis. To support this work, Medicinal Genomics also produces CannMed, a gathering of cannabis leaders, dedicated to furthering the state of the art in medicinal cannabis, and Kannapedia, the world's most complete public cannabis strain database. For more information, please visit www.medicinalgenomics.com.
About Eldan Established in 1960, Eldan is a leader and one of the most experienced distributors in the Israeli medical devices and life science industries. Eldan is a member of the Neopharm Group, amongst the largest and most substantial corporations operating across the Israeli healthcare sector. We serve as the local partner and distributor for a variety of international corporations. Eldan offers a complete platform for its partners seeking expansion in the Israeli market.