Wize Pharma, Inc. (OTCQB: WIZP) a clinical-stage biopharmaceutical company focused on the treatment of ophthalmic disorders, announced today that the Company and Cannabics Pharmaceuticals (OTCQB: CNBX) have together created and adopted a business plan for their joint venture (JV), a new entity focused on the research and development of cannabinoid formulations to treat ophthalmic conditions. Creation and approval of a business plan for the JV was a condition for the planned venture to move forward.

“We are very pleased to have jointly created and approved a plan that will support our pursuit of a significant opportunity to create ophthalmic treatments that leverage the therapeutic power of cannabis. Having assessed the regulatory pathway for eyedrops containing cannabinoids or cannabinoid strings, we are eagerly engaging in technology development and clinical advancement. Cannabics, a world leader in the development of cannabinoid-based therapies for cancer, and with a state of the art laboratory that has received approval from the Israeli Ministry of Health to conduct research with Cannabinoids and Cancer is an ideal partner for Wize,” stated Wize’s CEO Noam Danenberg.

SOURCE Wize Pharma, Inc.