InnoCan Pharma Launches Trading on OTCQB Venture Market
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As many countries around the world vaccinate and begin to end restrictions on wearing masks outdoors, InnoCan Pharma is expected to continue its current pattern of steady growth. Since the start of the new year, major stock indexes including the Dow Jones, S&P and NASDAQ have already regained a great deal of their COVID-era losses. Now is the time that stock traders and investors are keeping a keen eye on emerging companies entering the market, especially biotechnology companies that adapted due to the pandemic and prospered last year.
Earlier this month, InnoCan Pharma (OTC: INNPF) became the latest Israeli start-up company to be listed on the American market, launching common shares trading on the OTCQB Venture Market. Over the past few years, InnoCan has rapidly evolved from its original focus on researching cutting-edge solutions for cell repair mechanisms by leveraging cannabinoid (CBD) technology into a company commencing commercialization of its pain relief, therapeutic and cosmetic products throughout North America, the European Union, and the United Kingdom. InnoCan’s uplisting to the OTCQB Market can be seen as a major achievement, and places it in the next stage of its multi-year plan to attract investment and become a leading player in large and strategic global markets.
The rising company was founded by an experienced team of pharmaceutical executives and is guided by a strategic research and commercial plan. InnoCan’s founders include CEO and Co-Founder Iris Bincovich, Executive Chairman Ron Mayron (former CEO of Teva Israel), as well as Yoram Drucker, a founder of Pluristem and Brainstorm (both biotech companies traded on NASDAQ). InnoCan also maintains important partnerships with world-class Israeli research institutions including Ramot of Tel Aviv University and The Hebrew University of Jerusalem in developing its targeted drug-delivery systems and cannabinoid-loaded products.
During the COVID-19 crisis, InnoCan utilized its partnership with Ramot, Tel Aviv University’s renowned technology transfer company, to pioneer therapeutic solutions to treat victims of the pandemic. The parties have been engaged in joint research of CBD-loaded exosome-based smart delivery systems, which are able to target and heal damaged cells in the lungs and central nervous system (CNS). In response to the pandemic’s global outbreak, the partners sought to develop their CBD-loaded Exosomes (“ICLX”) to produce cell therapy solutions that can detect COVID-19 and potentially other coronavirus infections in the central nervous system (CNS) in order to cure damage induced to lung cells by applying CBDs and other anti-inflammatory elements.
Currently, InnoCan has tens of thousands of ready units of CBD pain relief and cosmetic products in the United States and in Portugal, including its SHIR and Relief & Go CBD Spray. After gaining significant approvals from the U.S. Food and Drug Administration (FDA) in addition to those of European commercial regulators, the company has quickly positioned itself to introduce its Synony and SHIR product lines into these large prospective markets.
Last month, InnoCan signed an important distribution agreement with the long-standing European distributor, Polyflame, a partnership that will only increase the availability of the pharma start-up’s products to investors, consumers and potential clients across the continent. As InnoCan’s therapeutic products are featured at select pharmacies in North America and the EU, customers and investors will be able to evaluate and further endorse the healing and skin-enhancing products.
InnoCan Pharma has steadily continued to make important progress in its research and development program; this week, the company announced that a test conducted on its CBD-loaded liposome platform technology (“LPT”) in partnership with The Hebrew University of Jerusalem produced positive results. In March, InnoCan expanded into the spray-based pharma market, pursuing an international patent application for a CBD-based anti-itch spray aimed to treat insect bites, rash, burns, cuts, in addition to potentially allergenic exposure.
InnoCan Pharma’s recent entrance into the OTCQB, created by the OTC Markets Group (formerly the “Pink Sheets''), is a moderately sized over-the-counter (OTC) stock trading market for early-stage U.S. and foreign companies. This uplisting stands as a major catalyst for those looking to capitalize on an early-stage opportunity to invest in a growing biotech company managed by a top-tier team. InnoCan’s stock ticker (INNPF) will also be eligible for electronic clearing through The Depository Trust Company (“DTC”), thus accelerating investors’ ability to trade its shares on a more extensive base of brokerage firms in the United States. The company is also currently traded on the Canadian Securities Exchange (CSE) as “INNO” as well as the Frankfurt Stock Exchange as “IP4.”
As the promising Israeli pharmaceuticals company enters into the OTCQB market, analysts anticipate the move to benefit InnoCan Pharma in more than just attracting new investment. In order to be listed on the OTCQB, a developing company must uphold high financial, technological, and regulatory standards. By undertaking this step, the OTCQB uplisting provides InnoCan Pharma with a platform for projecting further transparency and giving shareholders deeper insights into the company’s progression.In the coming months, InnoCan’s pain-relieving lotions, creams, oils, and more will be on select pharmacy shelves in European and North American markets, giving millions of potential consumers their first opportunity to test and approve of its healing and skin-enhancing products. Moreover, this represents an important benchmark in providing InnoCan Pharma’s investor-base in the United States with the ability to closely monitor the company’s promising market trajectory in the future.