Biomedical startup Cannabotech has partnered with the Californian corporation go NXT LVL in a move which will enable it to manufacture cannabidiol products in California.
Specifically, the agreement will allow Cannabotech’s integrative oncology products to be developed and manufactured at Go NXT LVL’s facilities in accordance with the California Medical Cannabis Regulations. The move has been made as the next phase in Cannabotech’s efforts to bring its products to market. The company now hopes to begin sales of its products to oncologists and caregivers in Q4 of 2022, in California.
Cannabotech also intends to make the scientific data it has accumulated so far available to Californian physicians and caregivers. This will include research it is conducting in Israel on nine CBD-based products for various cancers and their side effects. The company is also looking to recruit senior oncologists and therapists in California to recommend incorporating its integrative oncology products as part of the conventional anti-cancer treatment they currently prescribe.
In parallel with the sale of its products, Cannabotech’s personalisation technology is also expected to hit the market in late Q4 of 2022. This technology is designed to help ensure higher clinical efficiency by allowing patients to find the most effective medical solutions for them depending on the subtype of cancer they suffer from, the anti-cancer treatment chosen by their physicians, and the patient’s genetic setup or tumour.
Go NXT LVL has licenses for the production and distribution of medical cannabis products and has been operating for several years. Go NXT LVL’s production and distribution facilities are located in Desert Hot Springs, an area that is exempt from municipal cannabis taxes. California cannabis taxes may reach around 50% of the final product price per customer and constitute a significant barrier for many consumers who cannot afford it.
Go NXT LVL’s location exemption from the municipal tax thus enables them to produce cannabis products at competitive prices.
Additionally, Go NXT LVL has a distribution network for medical cannabis products through which it advises patients, provides them with medical prescriptions, and delivers products to their homes. Cannabotech plans to use this distribution network as part of its California market penetration strategy.
Cannabotech CEO, Elhanan Shaked, said: “This is a significant milestone in Cannabotech’s growth, allowing us entry into the world’s largest cannabis market, with unique medical solutions that will be specific and distinct from all other players in this arena. We are excited about finding such a professional partner as go NXT LVL, with their ability to develop and manufacture Cannabotech’s complex formulae while adhering to local medical cannabis regulations. The vision and path we established three years ago are now becoming a reality, and we are very proud of building a solid intellectual property in Israel and starting to commercially sell our products in the world’s largest cannabis market before the end of this year.”