Pharmocann

Company Overview

Snapshot

Founded in April 2008, Pharmocann operates with 1–10 employees and has raised $690K across one disclosed funding round. The company became public on TASE in December 2018 through a reverse merger with Medical Compression Systems.

Business overview

Pharmocann is an Israeli company focused on the development and production of medical cannabis. The company cultivates cannabis on its farm in the Jezreel Valley, Galilee, which includes hothouses for growth, propagation, and R&D of various cannabis strains. Pharmocann also develops cultivation centers and dispensaries, and has strategic partnerships with medical cannabis labs to produce GMP-manufactured products. Its product line encompasses oils, ointments, tablets, inhalers, suppositories, and pre-rolled cigarettes, serving over 3,000 patients monthly with an annual yield of approximately two tons of medical cannabis. The company is active in the Health Tech & Life Sciences sector, specifically within Pharma & Medical Biotechnology and Medical Cannabis.

Strategic signal

In November 2021, Pharmocann announced a collaboration with Shamir Institute to research 'magic mushrooms.' This strategic move signals the company's intent to diversify its product development beyond traditional cannabis, exploring new frontiers in psychedelic medicine and potentially expanding its therapeutic offerings within the health tech and life sciences sector.

Company Intelligence Q&A

When did Pharmocann become a public company?

Pharmocann became public on TASE in December 2018 through a reverse merger with Medical Compression Systems.

What was a significant partnership for Pharmocann in late 2021?

In November 2021, Pharmocann teamed up with Shamir Institute to conduct research on 'magic mushrooms', indicating an expansion into new areas of therapeutic development.

What was the outcome of Pharmocann's stock performance in September 2022?

In September 2022, Pharmocann's stock price experienced a significant decline, dropping by 27% following an issuance at what was described as 'end-of-season prices'.

What operational challenge did Pharmocann face in July 2022?

In July 2022, Pharmocann encountered an issue with fungus affecting its cannabis crops, which coincided with the unexpected departure of its CEO.

What was the nature of Pharmocann's partnership with WeedMD in November 2018?

In November 2018, WeedMD exported cannabis genetics to Pharmocann in Israel, establishing a collaboration for genetic material exchange.