OWC Pharmaceutical Research Corp. (OTC: OWCP), developer of cannabinoid-based therapies targeting a wide variety of different medical indications, recently announced the extension of its contract with Sheba Academic Medical Center to further conduct clinical trials targeting fibromyalgia to help advance better treatments to patients through medical cannabis.
“While fibromyalgia is a chronic widespread disease impacting the daily lives of individuals – from the loss of workdays and productivity, to a decreased capacity of mental clarity – we look to further gain compounding results to support existing preliminary data on the efficacy of cannabis treatment through our clinical trials,” said the trial’s lead investigator, Prof. Amital, in a recent press release.
The company expects to begin clinical trials during the middle of the third quarter, which will last for an estimated 12 to 15 months. Prof. Amital, an Internist and Rheumatologist, will perform the clinical trials, while the Helsinki Committee (“IRB”) should approve the study over the next month.
“Data already obtained from initial phases of fibromyalgia studies has already provided some promising evidence through the use of medical cannabis and will be crucial in finding further solutions and the development of more targeted treatments,” said Mr. Alon Sinai, the Company COO in the press release.
According to the 2014 National Pain Foundation and National Pain Report, participating patients reported high health care usage and frequent work limitations due to their fibromyalgia disability, with many patients experiencing significant disability, insomnia, depression, and cognitive dysfunction.
Shares of OWC Pharmaceutical Research Corp. jumped more than 2% in early trading on Wednesday, May 13, 2015 following the news release.
Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.