For more than 50 years, Israeli scientists have been researching the medical benefits associated with cannabis and the country’s pro-cannabis standpoint has made it attractive to several cannabis-focused biotech firms.
Although the Israeli cannabis research and development efforts are unmatched by any country, the growth of the North American cannabis industry has caught Israel’s attention.
The Canadian recreational cannabis movement has been the story of the year so far, but Israel is not too far behind as its cannabis initiatives are starting to gain traction in some of the world’s largest markets.
Israeli Cannabis Company Continues to Expand
Tikun Olam is one of Israel’s leading suppliers of medical cannabis and has been operating under a license from Israel’s Ministry of Health since 2007. From plant to patient, Tikun Olam is a vertically integrated company and the founder of the world’s first professional cannabis nursing clinic.
The company has been capitalizing on the United States legal cannabis market and Tikun Olam plans to enter Nevada’s cannabis market and continue to expand its presence in the United States following the completion of its pilot program in Delaware.
Tikun Olam will enter the Nevada market and will be licensed to sell its products through a non-exclusive agreement with CW Nevada and its chain of dispensaries. The nature of the agreement will enable Tikun Olam to increase its market share within Nevada and enter new dispensaries as the state’s cannabis market continues to grow.
T.O. Global LLC CEO Bernard Sucher said, “Tikun Olam is the gold standard for pharmaceutical grade medical cannabis production in both Israel and Canada. The U.S. cannabis market is becoming more sophisticated, looking beyond high-THC content to demand medically-proven, quality products for therapeutic cannabis use as part of a healthy lifestyle.”
A Global Focus
From Israel to the United Sates, from Canada to Australia, Tikun Olam has been executing on the burgeoning global cannabis industry.
In 2014, Tikun Olam entered a partnership with MedReleaf, a licensed Canadian medical cannabis producer. The partnership has been successful and is focused on treating Canadian patients.
Last year, Tikun Olam expanded into the United States and established a subsidiary, Tikun Olam USA. The company also recently said it would be working with Medifarm of Australia, which is Queensland’s first medical cannabis cultivation license.
A Company to Watch
Tikun Olam is privately held and we think this is a company to watch as it continues to execute on its business plan and increase it leverage to the rapidly growing legal cannabis market, which is the fastest growing in industry in the world.
Although cannabis is a cash crop, companies like Tikun Olam are learning about the plant’s incredible ability to treat medical ailments and debilitating diseases.
Authored by: Michael Berger