OWC Pharmaceutical Research Corp Signs Agreement With US Partner for Funding in Advance of Future Royalties

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OWC Pharmaceutical Research Corp Signs Agreement With US Partner for Funding in Advance of Future Royalties OWC Pharmaceutical Research Corp Signs Agreement With US Partner for Funding in Advance of Future Royalties Initial Focus Will Be Commercialization Of Company's Topical Psoriasis Treatment PR Newswire PETACH TIKVA, Israel, September 30, 2016 PETACH TIKVA, Israel, September 30, 2016 /PRNewswire/ -- OWC Pharmaceutical Research Corp. (OTCQB: OWCP), ("OWC" or the "Company"), an Israeli-based developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today announced it signed an agreement for $300,000 with Medmar LLC ("Medmar").      (Logo: http://photos.prnewswire.com/prnh/20150311/734965-a )      (Logo: http://photos.prnewswire.com/prnh/20150311/734965-b ) According to the terms of the agreement: The funds will be allocated to complete the development of the Company's proprietary psoriasis cream; Medmar will have exclusive right to manufacture, produce, publicize, promote and market OWC's Licensed Products in any state in the U.S; The loan is non-interest bearing and will be repaid from royalties generated by the sale of OWC licensed products. Commenting on his investment, Steve Weinstein, CEO of Medmar said, "Medmar has been anxious to advance cannabis as medicine, however US regulation makes it very difficult for companies here to actively pursue any type of development in the sector; fortunately, the environment in Israel is more favorable to the industry." Mr. Weinstein went on to say, "We learned about OWC as they are one of only a handful of companies taking a true clinical approach to the research and development of medical cannabis, and this was important to us. Once we saw the preliminary results for their clinical studies, particularly in the field of psoriasis, we decided to make an investment and partner with them." Mordechai Bignitz, OWC's Chairman and CEO, also commented on the announcement, "As we continue to make progress in our clinical trials for multiple myeloma, psoriasis and fibromyalgia, we are excited to partner with MedMar as we prepare to bring products to market. Their confidence in the potential for the commercialization of our research is clearly evident in the terms of this agreement." About OWC Pharmaceutical Research Corp.   &#16...

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