Current Report Filing (8-k)
November 13 2019 - 9:01AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): November 13, 2019
OWC
Pharmaceutical Research Corp.
(Exact
Name of Registrant as Specified in its Charter)
Commission
File No.: 0-54856
Delaware
|
|
98-0573566
|
(State
of Incorporation)
|
|
(I.R.S.
Employer Identification No.)
|
2
Ben Gurion Street, Ramat Gan, Israel
|
|
4514760
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
Registrant’s
Telephone Number, including area code: 972 (0) 3-758-2657
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities
registered pursuant to Section 12(b) of the Exchange Act:
Title
of each class
|
|
Trading
Symbol
|
|
Name
of each exchange on which registered
|
None
|
|
None
|
|
None
|
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
8.01 Other Events.
OWC
Pharmaceutical Research Corp (“OWC”) and Stenocare A/S (“Stenocare”) have signed a strategic Memorandum
of Understanding (MoU) to develop and commercialize new cannabis-based medical products. The new relationship will provide market
access to OWC’s technologies and will accelerate Stenocare’s long term strategy to supplement its high quality generic
medical cannabis products with differentiated products that are formulated to target specific patient groups suffering from specific
conditions.
The
companies wish to cooperate in order to jointly develop and promote the sale and distribution of products within Stenocare’s
current core markets (Denmark, Ireland) and potentially in new territories to be targeted by Stenocare. The nature of the cooperation
is highly synergistic:
●
|
Stenocare
will provide its high-quality cannabis raw materials and extensive knowledge, reputation and experience relating to supply
and distribution of medical cannabis-based products in Denmark and Ireland;
|
●
|
OWC
will provide its expertise in medical research and clinical trials for cannabis-based novel therapeutic products and treatments,
backed by its extensive intellectual property portfolio.
|
The
first product candidate for the partnership will be a sublingual tablet with specified medical cannabis ratios designed to meet
specific needs of patients according to their diagnosis and responses to treatment. It is expected that such jointly developed
products can be launched, subject to obtaining relevant approvals and licenses during 2021 and 2022.
OWC
Pharmaceutical Research’s CEO Mordechai Bignitz, commented: “Stenocare is a strong match for OWC with its unique focus
on pharma-grade production and distribution of medical cannabis in interesting markets. This is fully aligned with OWC’s
approach to develop and commercialize products for millions of patients.”
Stenocare’s
CEO, Thomas Skovlund Schnegelsberg, commented: “The prospects of working with OWC on new medical cannabis products marks
an important milestone for executing our strategy. OWC has a strong track record for product development and together we have
the basis for strong synergies and a fast forward opportunity towards our goal of building a leading medical cannabis brand and
preferred supplier of “pharma” standard medical cannabis.”
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
OWC
PHARMACEUTICAL RESEARCH CORP.
|
|
|
|
|
By:
|
/s/
Mordechai Bignitz
|
|
Name:
|
Mordechai Bignitz
|
|
Title:
|
Chief Executive Officer
|
|
|
|
Dated:
November 13, 2019
|
|
|
OWC Pharmaceuticals Rese... (CE) (USOTC:OWCP)
Historical Stock Chart
From Aug 2024 to Sep 2024
OWC Pharmaceuticals Rese... (CE) (USOTC:OWCP)
Historical Stock Chart
From Sep 2023 to Sep 2024