This morning (October 31st, 2018), InterCure's Ltd management opened the trading session on the Tel-Aviv Stock Exchange (TASE) celebrating the addition to TASE indices.
InterCure has been listed on TASE since 2007 and up until recently operated as a holding company in the biomed sector. Intercure is the first and only company listed on TASE with a valid license for the whole value chain of pharma grade medical Cannabis (IMC Medical Grade), of the ten companies that have announced their entry into the medical cannabis sphere. InterCure is the only one to post significant revenues from sales of its products, and it is therefore also the first company in the medical cannabis sphere to join TASE indices.
Ehud Barak, Chairman of InterCure: “I am proud to open the trading this morning together with the management of InterCure and CANNDOC.I am pleased to have the opportunity to be part of this elite band that is integrating vision with focused endeavor in a field which has both business potential and also a significant positive medical impact. I am still learning the field and, though I have never inhaled or even exhaled cannabis, it is clear to me that the medical benefits of cannabis warrant qualitative and substantive investment in the field. The innovative science and research that currently stands behind the development of medical products for treating a variety of ailments, and the stringent regulatory governance that is currently being rolled out around the world, signal that the business, government and medical segments understand the significant potential of cannabis in treating complex medical conditions and in bringing about an improvement in the life and quality of life of various patients. InterCure’s CANNDOC is the first and only public company on TASE to hold an active license for the entire value chain of medical-use cannabis; CEO Roei Zerahia and controlling shareholder Alex Rabinovich have extensive knowledge and comprehensive expertise in the fields of developing pharma grade medical-use cannabis products and biotechnology, as well as with regard to the business and economic factors needed to realize the company’s vision to become the leader in this field. We have established a global company and, with this in mind, we are currently examining the possibility of applying for a listing on NASDAQ and are taking steps to scaling up the company’s production and marketing capabilities in Israel and overseas.”
Yaniv Hirsch, from TASE’s Indices Unit: “CANNDOC is one of only eight companies in Israel to have been granted an active license from the Ministry of Health to cultivate medical cannabis and to distribute it to thousands of patients in Israel, and in fact it is the only one of them that is also a public company. The company operates under the most stringent regulatory rules and regulations (IMC-GAP), which allows it to distribute its medical cannabis products in pharmacies and is fully prepared to enter the export market if and when this is approved by the regulator. Since the moment that the company announced that it was expanding its operations into the medical cannabis sphere and following Mr. Ehud Barak joining as the new chairman of the board (which also contributed considerably to the public’s faith in the company) the return on the company’s share has risen more than 1,000%. More than 50% of the company’s investors are institutional bodies and the general public. We believe that the company joining the TA-AllShare Index, the TA-Growth Index, the TA Global-BlueTech Index and the TA-Biomed Index will assist the company to grow for the benefit of its investing public, as well as for the benefit of its patients. We hope that the company will serve as an example for additional biomed companies to realize that TASE can act for them as a growth engine that will enable them to develop and grow.”
Pictured (from right to left): Yaniv Hirsch, TASE’s Indices Unit; Iris Dolev, Deputy President of CANNDOC; Omer Zerahia, VP Strategic Partnerships of CANNDOC; Roei Zerahia, CEO of CANNDOC; Ehud Barak, Chairman of InterCure; Avner (Neri) Barak, Founder and President of CANNDOC; Ittai Ben-Zeev, CEO of TASE.
Photo credit: Liat Mendel, for no financial consideration.
