Synaptogenix, Inc. (SNPX) has entered into a collaboration with Cannasoul Analytics Ltd., a company founded by the Technion Research & Development Foundation and the renowned cannabis key opinion leader and researcher Professor Dedi Meiri of The Technion. As a biopharmaceutical company focusing on neurodegenerative disorders and with approximately $33 million in cash as of June 30, 2023, Synaptogenix aims to support the research and development of pharmaceutical therapeutics.
Under the investment agreement, Synaptogenix has gained the right to fund the further research and commercialization of specific intellectual property, technology, and future products developed by Cannasoul and licensed from The Technion.
Professor Peretz Lavie, the 16th president of the Technion and a board member of Cannasoul, expressed his enthusiasm for the collaboration, saying, “Cannasoul is pleased to welcome Synaptogenix as a key partner in our development of groundbreaking therapeutics derived from natural compounds. Together with Synaptogenix, we look forward to advancing our leadership in developing effective cannabis and psilocybin-based treatments that will be easily accessible to patients worldwide.”
Professor Meiri, the head of the Laboratory of Cancer Biology and Cannabinoid Research at The Technion’s Faculty of Biology, also shared his excitement about the partnership. He stated, “We are very excited to partner with Synaptogenix and believe that Synaptogenix’s expertise in pharmaceutical development will enable us to advance the development and commercialization of Cannasoul’s current intellectual property and engage in new projects based on the exciting research being conducted in my lab at The Technion.”
Cannasoul, founded by Meiri and The Technion in 2018, focuses on the development of cannabinoid-based and other therapeutics for various indications and vertical markets. The company has made significant progress in disease markets such as leukemia, epilepsy, and sleep disorders.
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The collaboration between Synaptogenix and Cannasoul represents an exciting development in the field of cannabis research and pharmaceutical development. With Synaptogenix’s expertise and financial support, Cannasoul can accelerate the development and commercialization of groundbreaking therapeutics derived from natural compounds. As the cannabis industry continues to grow, investors should keep a close eye on emerging opportunities and stay informed about the latest advancements in the field.