OWC Pharmaceutical Research Corp. (OTC: OWCP), a developer of medical cannabis treatments and provider of regulatory consulting services, recently announced that it began a basic science study several weeks ago at the Sheba Academic Medical Center Multiple Myeloma Research Lab in accordance with the Sheba Internal Review Board approval that it received earlier this year.

“We are excited to see our vision materialize into a scientific study conducted at the leading academic medical center in Israel, and headed by one of the worldwide leaders in Multiple Myeloma research,” said One World Cannabis COO Alon Sinai in a recent press release highlighting the company’s execution on its plans.

The move comes shortly after the company announced the signing of a collaboration agreement with the medical center in early March. Under the agreement, the company is exploring the effects of several combinations of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”) on multiple myeloma, beginning with the basic science study on multiple myeloma cell cultures in the lab.

Dr. Merav Leiba, Head of the Multiple Myeloma Research Lab, is leading the research as a specialist in Internal Medicine and Hematology. Dr. Leiba has participated in numerous clinical trials and investigational studies aimed at developing novel drugs for multiple myeloma. With the promising results seen across many other indications, the team is hopeful that cannabis will help treat the condition.

Multiple myeloma accounts for 10% of all hematologic malignancies and is the second most common hematologic cancer, representing 1% of all cancer diagnoses and 2% of all cancer deaths worldwide.

OWC Pharmaceutical Research Corp. shares rose 15% in early trading on Wednesday, April 15, 2015 following the news release.

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