“we are looking forward to working with the ADVA team, a team that brings experience of many years in development of bioreactors at the highest level of mesenchymal stem cell production in various companies. The uniqueness of the mesenchymal stem cell production unit to be developed by ADVA under the LOI and the Exosome Production Agreement is expected to provide Innocan with full control of many important parameters of the exosome production process, allowing Innocan and Prof. Offen’s team to optimize the exosome and production system.”Iris Bincovich, CEO of Innocan
- InnoCan Pharma Corporation (CSE: INNO) (FSE: IP4) (the “Company” or “Innocan”) announces that its wholly-owned subsidiary, Innocan Pharma Ltd. (“Innocan Israel”), has entered into a letter of intent (“LOI”) with Adva Biotechnology Ltd. (“ADVA”) dated May 21, 2020.
- The Exosome Production Agreement will provide a framework for the production of exosomes and related development services by ADVA. As part of Innocan’s research and development activities with the Tel Aviv University led by Prof. Daniel Offen.
- Innocan intends to load the produced exosomes with CBD (“CLX”) to be used towards its efforts to develop a treatment for COVID-19 and additional central nervous system indications.
“we are very pleased to collaborate with Innocan and Prof. Offen’s team on the CLX project. Our technology is an excellent fit to Innocan’s needs and the ability of having full control and high flexibility at the production process may lead to better, faster and high yield production of the exosomes and cells.”Dr. Ohad Karnieli, ADVA founder and CEO
- The services to be provided by ADVA will be provided in three stages:
- Stage 1: pilot study involving producing exosomes from 4 to 6 production runs according to the specifications of Innocan, expected to be completed in 6 to 8 weeks.
- Stage 2: production of exosomes from 4 to 5 different donors, conducting comparable tests, production process optimization and characterization of the final exosome product.
- Stage 3: upscaling the finalized exosome product for commercial production.
Pursuant to the LOI, the requirement to complete Stage 1 of the services is immediately binding on the parties. Innocan is required to make certain payments to ADVA
- within 5 days following the signing of the LOI
- upon the successful completion of Stage 1. The immediate impact of the LOI is that ADVA will commence production of the exosomes, thereby accelerating the research and development of CLX prior to entering into the Exosome Production Agreement.
About Adva Biotechnology Ltd.
ADVA is an Israeli based private company focused on developing technologies for cell therapy manufacturing. ADVA developed an automated, controlled and simple to use platform for cell manufacturing – initially for immune cell therapies (ICT) such as Chimeric Antigen Receptor (CAR T), T Cell Receptor (TCR), Natural Killer cells (NK) and T infiltrating Lymphocytes (TIL’s). The automated platform is designed to allow autologous manufacturing of additional types of cells with a change in the disposable chamber allowing efficiency and flexibility with a long pipeline of products.
About Innocan Pharma Corporation
The Company, through its wholly-owned subsidiary, Innocan Israel, is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”) with other pharmaceutical ingredients. Innocan and Ramot at Tel Aviv University are collaborating on the development of a new exosome-based technology that targets both central nervous system indications and the COVID-19 Coronavirus. The Company believes that CBD-loaded exosomes may hold the potential to provide a highly synergistic effect of anti-inflammatory properties and help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.
Innocan Israel has entered into a worldwide exclusive research and license agreement with Yissum Research and Development Company, the commercial arm of the Hebrew University of Jerusalem to develop a CBD drug delivery platform based on a unique-controlled release liposome to be administrated by injection. The Company, together with Prof. Berenholtz, Head of the Laboratory of Membrane and Liposome Research of the Hebrew University, plans to test the liposome platform on several potential indications. The Company is also working on a dermal product integrating CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of InnoCan have commercially successful track records in the pharmaceutical and technology sectors in Israel and globally.
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