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‘Cannabis Is A World Of Mystery,’ Says A Nobel Prize Winner Working In Weed – Benzinga

Earlier this year, Israel-based pharmaceutical cannabis company Panaxia Pharmaceutical Industries appointed Nobel Prize winner in chemistry, Prof. Aaron Ciechanover (72) as a senior member on its advisory committee.

Prof. Ciechanover, an Israeli biologist, got the highest honor from the Nobel Foundation for discovering ubiquitin‐mediated protein degradation. He is now one of the very few Nobel Prize winners actually working in the cannabis space.

‘A World Of Mystery’

During an exclusive interview held a few weeks ago, Prof. Ciechanover said that, while he recognizes “cannabis is a world of mystery,” his decision to join Panaxia was not driven by “the mystic aspect” of the plant, but rather by his desire to help with the science behind the company’s products.

“I’ve also learned a great deal about traditional Chinese medicine, and it too can be used as a source of many treasures regarding the plant; and let’s not forget that commercial companies are investing heavily in research and development,” he added.

See also: Former Yahoo CEO Carol Bartz Shares Advice For Cannabis Entrepreneurs: ‘You Have To Have Some Cojones’

Panaxia will be seeking to promote collaborations with researchers and therapists around the world, as well as potential licensing agreements. Prof. Ciechanover will be assisting the team in these tasks.

From Chemistry To Cannabis

Prof. Ciechanover has a background in both biochemistry and medicine, with years of experience as a practicing physician. While he has no previous background in cannabis, his experience does consist of “consulting pharmaceutical companies and drug development.” The scientist is confident that, along with the cannabis experts in Panaxia’s committee, he’ll be able to “steer the company ahead.”

Interestingly, Prof. Ciechanover does not make a big fuss over his Nobel Prize.

“I don’t think the Noble Prize adds anything to my scientific-medical abilities; it has no magic or super-powers,” Prof. Ciechanover argued. “I hope that my scientific and medical knowledge together with that of my fellow experts in the committee, will assist the company in deciding on its fields of research and development.”

As mentioned above, Prof. Ciechanover does not embrace mysticism as he does science.

“This is the only way I know to be free of mysticism, and offer patients suffering from a wide range of medical conditions – some of which we have yet to discover – a real therapeutic treatment based on medical cannabis.”

See also: Putting Their Money Where Their Mouths Are: Meet 6 Ladies Behind This Women-Only Cannabis Fund

Adding to the Nobel Prize’s comments, Dr. Dadi Segal, CEO and founder of Panaxia, noted that having a “world-renowned scientist such as Prof. Ciechanover, places Panaxia in the ‘Big League,’ and acts as a vote of confidence in the company and its activity.”

Dr. Segal is confident that Prof. Ciechanover will be a significant contributor to the company’s research, as they seek to “make pharmaceutical cannabis accessible to a greater number of patients and a wider range of illnesses.”

A Bit About Panaxia

As Dr. Segal likes to say, “Panaxia has the DNA of a pharmaceutical company and a scientific added-value.” As the largest pharmaceutical cannabis manufacturer in Israel today, it manufactures more than 50,000 products per month to provide the Israeli market alone, and is responsible for 9 out of 10 pharmaceutical cannabis brands in Israel. The company was also the first company to receive a permit to manufacture a medication based on pharmaceutical cannabis (IMC-GMP standard) and has a permit to provide manufacturing and distribution services of pharmaceutical cannabis products in Israel.

See also: Thiel Capital’s Jason Camm Discusses Joining Psychedelics Company ATAI Following $24M Raise

The global pharmaceutical cannabis market is estimated to be worth $13 billion a year, and growing at a 30 percent yearly rate.

The company is currently researching the applications of cannabis for 15 different indications. Beyond Prof. Ciechanover, they are looking to collaborate with the academia in general, and they believe Prof. can be of great help in securing these partnerships.

Versión en Español en El Planteo: Este Ganador del Premio Nobel Trabaja con Cannabis: ‘Un Mundo de Misterios’

Follow Javier Hasse on TwitterInstagramFacebook and LinkedIn for up-to-date cannabis news and stories from the industry.

This article was originally published on Forbes, and republished here with permission.

Photo: Agência Brasil Fotografias / Antonio Cruz

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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