London, United Kingdom, June 03, 2017 –(PR.com)– CiiTECH, a cannabis biotech startup, emerges from stealth to announce their development of unique therapeutic products based on scientific and clinical research in Israel.
Globally recognized as the epicenter of cannabis research lead by Professor Mechoulam for over fifty years, Israel’s supportive regulatory environment and collaborative healthcare ecosystem place the country at the vanguard of medical cannabis. Israel presents one of the best environments globally to conduct clinical and pre-clinical trials for all drug-related products due to their highly developed public health system and infrastructure, expert physicians plus over twenty years of experience in hosting human clinical trials. With full support of their Health Ministry together with start-up nation culture, approvals can be expedited to test the efficacy of cannabis-based products. The Hebrew University of Jerusalem recently established the Multidisciplinary Center on Cannabinoid Research to channel and progress further research in this field.
Focusing initially on obesity and other metabolism-related disorders, CIITECH will create a portfolio of products including neurological and dermatological-related conditions such as ADHD, migraines, psoriasis and eczema.
This range of research-supported cannabinoid products will be crafted in the UK initially for its home market, where import, export, production and sale of non-psychoactive cannabinoids is legal. The MHRA, the UK’s medicines and healthcare products regulatory body, is currently regulating the cannabinoid CBD as a “dietary supplement” with medicinal value. Aside from the scheduled, psychoactive cannabinoids such as THC, over one hundred other molecules exist in the plant and are yet to be researched for medicinal purposes.
Momentum for nutraceuticals is fueled by a paradigm shift in healthcare from treatment to prevention, encouraging clinicians and consumers to think differently about health and lifestyle-related diseases. With the annual global market expected to be worth over US$250 billion by 2024, nutraceuticals are gaining prominence and becoming part of the average consumer’s daily diet to keep lifestyle diseases such as diabetes, high blood pressure, cholesterol and obesity at bay. An increase in life expectancy increased healthcare costs and a trend towards “clean” natural, plant-based products are other driving factors. The UK has emerged as a key test market for nutraceuticals, resulting in a high frequency of product launches.
“Largely overlooked until now by the cannabis industry, we believe the UK can become a significant market for cannabis-based wellness products and a gateway to Europe,” says CIITECH’s CEO Clifton Flack, former founder of iCAN and industry conference CannaTech. “GW Pharma has already blazed trails in the UK for regulation, R&D and capital markets, laying the groundwork for a vibrant cannabis hub.”
Clifton Flack will be speaking on the global market for cannabis-based nutraceuticals at Israel’s international medical cannabis conference Cann10, taking place 4-6 June 2017 in Tel Aviv.
 Functional Foods Market Size, Growth & Trends Industry Report, Grand View Research, November 2016
 Global Nutraceutical Industry: Investing in Healthy Living, Frost & Sullivan