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REHOVOT, Israel and BETHESDA, MD, Nov. 8, 2022 /PRNewswire/ -- CNBX Pharmaceuticals Inc. (OTCQB: CNBX), a global leader in the development of cancer related medicine, announced today that it has acquired a controlling interest in TaGeza Biopharmaceuticals Ltd. The TaGeza research team remains committed to the company, and co-founder Prof. Benjamin Dekel (MD, PhD) will continue to serve as the company's Chief Scientist; CNBX Chairman, Gabriel Yariv, to assume the position of TaGeza Biopharmaceuticals CEO.
TaGeza was founded in 2014 by a medical team from Sheba Medical Center, Israel's largest hospital, led by Prof. Benjamin Dekel (MD, PhD), and under a research collaboration agreement with the Sheba Medical Center.
TaGeza is a developer of next generation immunotherapy and cancer-targeted therapies. The company is currently developing novel Antibody Drug Conjugates (ADCs) based on novel monoclonal antibodies (mAbs), targeting specific types of cancer by way of targeting the subpopulation of highly tumorigenic cancerous cells, known as Cancer Stem Cells (CSC) or Tumor Initiating Cells (TICs). Patients undergoing more conventional therapies such as chemotherapy enjoy a reduction in tumor size but can often relapse and even develop a more aggressive disease, in part due to the residual population of chemotherapy-resistant tumor cells are enriched by CSCs or TICs. Therefore, targeting CSCs/TICs can help improve patient outcome and reduce relapse caused by their aggressive self-renewal and tumorigenic properties as well as their resistance to more conventional therapies.
The usage ADC therapies is already well established, and growing, as they become increasingly noticeable in the oncological therapeutical global market with 11 Antibody Drug Conjugate therapies already cleared for marketing globally, and with 6 of which that have been cleared for marketing during the last 3 years alone. The main usage of ADCs today is in hematology and in solid tumor therapy. A Market analysis by Nature from August 2021, shows several of the available ADCs as having annual sales of over $1B, and a forecast that the combined annual sales of the currently marketed ADCs will surpass $16B by 2026.
Prof. Dekel (MD, PhD) is the Head of the Israeli Stem Cell Society, and heads the Pediatric Nephrology Division and the Pediatric Stem Cell Research Institute at the Sheba Medical Center. He is also Associate Dean for Clinical Research Innovation and Development and Director of the Center of Regenerative Medicine, at Tel Aviv University.
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CNBX Pharmaceuticals Inc. (OTCQB: CNBX) is a U.S. public company and a global leader in the development of cancer related cannabinoid-based medicine. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and cancer. For more information, please visit www.cnbxpharma.com. For the latest updates on CNBX Pharmaceuticals follow the Company on Twitter@cnbxpharma, Facebook@cnbxPharmaceuticals, LinkedIn https://www.linkedin.com/company/cnbx, and on Instagram @CNBX_Pharmaceuticals.
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Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our Company's management and are subject to significant risks and uncertainties. Actual results may differ from those outlined in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission including, without limitation, our latest 10-Q Report filed July 14th, 2022. We undertake no duty to update any forward-looking statement or any information contained in this press release or other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Cannabics Pharmaceuticals Inc., which are condoned by the Company, must emanate from the Company itself and bear our name as its source.
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