Former Israeli prime minister turns to cannabis

Ehud Barak, former Prime Minister of Israel between 1999 and 2001, has just been appointed president of one of Israel's largest medical cannabis companies: InterCure. He will be responsible for business development and establish a strategy for the company's global expansion. All this for the modest sum of 10,000$ per month and only 40 hours per month. What's more, the contract includes 5% of the company in convertible shares.

A partnership aimed at the global market

This announcement once again sent the stock market into a frenzy (the shares of’InterCure on the Tel Aviv Stock Exchange jumped after this appointment) because it signals the clear intention of’InterCure to take its place at the forefront of the international medical cannabis scene. In fact, the company plans to list on NASDAQ very soon, and will become Canndoc Pharma. “I intend to lead the company's international expansion strategy and actively participate in its development with the aim of making Canndoc Pharma one of the world leaders in the sector.‘ said the former prime minister.

InterCure a acquis Canndoc which has an active license covering the entire cannabis production chain, from research to marketing, enabling it to develop independently. The company's products meet government standards of quality and safety, and are therefore suitable for sale in Israeli pharmacies.

InterCure also has 17.25% of Regenera Pharma, a laboratory that develops new drugs and is currently testing medicines for people who have suffered optic nerve trauma and for Alzheimer's patients. In addition, the company also owns 9.3% of Novellusdx which develops technologies to improve cancer treatments by anticipating disease mutations using molecular signals.

Israeli leadership in research and development

It goes without saying that’InterCure has already established itself as a major player in the medical cannabis sector. The recent appointment of Ehud Barak, whose international address book is well-stocked (notably with American contacts), will enable the Israeli company to flood the world market. Israel is already a world leader in cannabis R&D With effective means of exporting, the country is likely to dominate this emerging market.

The medical cannabis market is estimated to be worth $150 billion a year within 10 years. The plant's medicinal virtues are becoming increasingly widely recognized, and it is beginning to be legitimized around the world: «medical cannabis has proven its ability to help and improve the lives of many patients around the world, and more and more Western countries are adopting it and recognizing it as a legitimate medical treatment».» said Ehud Barak. The gradual legitimization of medical cannabis is attracting more and more investors and entrepreneurs. In fact, this is not the first time that politicians have turned to cannabis. This summer, it was former President of Mexico, Vincente Fox, who has been appointed to the Board of Directors of Khiron Life Sciences.