Cannabotech, an Israeli biomedical startup that develops botanical solutions for integrative oncology and preventive medicine, set a new strategic partnership with go NXT LVL. This agreement will allow Cannabotech's integrative oncology products to be developed and manufactured at go NXT LVL's facilities in accordance with the California Medical Cannabis Regulations. The move marks the next phase in Cannabotech's efforts to bring its products to market, with sales of its products to oncologists and integrative caregivers expected to start in Q4 of 2022 in California.
Cannabotech also intends to make the scientific information it has accumulated accessible to Californian physicians and caregivers, including the research it is currently conducting in Israel on the nine products designed to help patients with breast cancer, colon cancer, pancreatic cancer, lung cancer, prostate cancer and chemotherapy side effects such as neuropathic and inflammatory pain.
In addition, Cannabotech intends to leverage the Forum of Experts it has established, including several senior Israeli oncologists, to recruit senior oncologists and therapists in California to recommend incorporating its integrative oncology products as part of the conventional anti-cancer treatment they currently prescribe.
In parallel with the sale of its products, Cannabotech's personalization technology is also expected to hit the market in late Q4 of 2022. This technology is designed to help ensure higher clinical efficiency by allowing patients to find the most effective medical solutions for them depending on the subtype of cancer they suffer from, the anti-cancer treatment chosen by their physicians, and the patient's genetic setup or tumor.
go NXT LVL has licenses for the production and distribution of medical cannabis products and has been operating for several years in the development and production of high-quality cannabis products. go NXT LVL's production and distribution facilities are located in Desert Hot Springs, an area exempt from municipal cannabis taxes. California cannabis taxes may reach around 50% of the final product price per customer and constitute a significant barrier for many consumers who cannot afford paying for it. go NXT LVL's location exemption from the municipal tax thus enables them to produce cannabis products at competitive prices.
Additionally, go NXT LVL has a distribution network for medical cannabis products through which it advises patients, provides them with medical prescriptions, and delivers products to their homes. Cannabotech plans to use this distribution network as part of its California market penetration strategy. Moreover, go NXT LVL has extensive experience in using Nano-Emulsion technology which improves formulae's stability, increases the bioavailability of cannabinoids in the body, and shortens the time required from the moment of use to medical effect.
Following the launch of their products in California, Cannabotech also hope to bring their products to market in the UK and Israel.