Tikun Olam - Cannbit will supply Gynica with research and development tools, create a production line for research at the company's factory and fund clinical trials for Gynica. The company will also provide Gynica with scientific consultation and medical cannabis raw materials.
Gynica, owned and founded by the Asana Bio Group, has worked to develop localized treatment for chronic menstrual pain and pain during sex.
The companies hope to offer new solutions to women's health problems that currently have no medical solution.
Among the products the companies seek to develop are vaginal suppositories and lubricants that contain cannabinoids.
"This is the first time ever that clinical trials will be held for a cannabis-based vaginal product," said DR Sari Sagiv, VP of research and development at Gynica, who went on to say that the products will treat gynecological problems that to this day do not have effective solutions.
"I am proud that soon we will be able to give a safe and effective solution to women who are suffering and not being helped."
"We will cooperate to develop precise cannabis-based products, intended for a market with a lot of potential including markets in Canada, Australia and the UK, where demand for these products is rising, and regulation enables it," said Tikun Olam - Cannbit CEO Avinoam Sapir.