OWC Pharmaceutical Research Corp. (OTC: OWCP), a medical cannabis research and consulting company, recently announced that it signed a collaboration agreement with Sheba Academic Medical Center. As the largest hospital in Israel and in the Middle East, Sheba Academic Medical Center is an ideal partner for the company’s medical cannabis research efforts.

“We are very pleased to be working with a highly regarded academic-based medical facility, and in compliance with international regulatory protocols,” said OWC Pharmaceutical Research Corp. CEO Ziv Turner. “This collaboration supports the company’s goal to be in the forefront of research and development of cannabis-based treatments for diseases and medical conditions.”

Chief Science Officer Dr. Alan Shackelford will oversee an initial study conducted by Sheba Academic Medical Center’s Dr. Merav Leiba to explore the effect of several combinations of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”) on multiple myeloma. As the second most common hematologic cancer, multiple myeloma represents a market that’s in desperate need of better treatment options.

After receiving approval from the Sheba Academic Medical Center’s Internal Review Board (“IRB”), the company plans on proceeding with the knowledge that the clinical trial does not contradict the principles of the Helsinki Declaration, the Israeli Public Health Regulations, and the Israeli Medical Trials on Human Procedures. The approval could also make future clinical trials easier to initiate.

Shares of OWC Pharmaceutical Research Corp. were trading even in early hours on Wednesday, March 11, 2015 following the news release.

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