Canonic Received Approval for Propagation of Medical Cannabis from the Israel Medical Cannabis Agency

This approval will allow Canonic to proceed with the execution of its commercialization plan

REHOVOT, Israel, Nov. 11, 2020 /PRNewswire/ — Canonic, a wholly owned subsidiary of Evogene Ltd. (NASDAQ: EVGN), (TASE: EVGN) focused on the development of medical cannabis products, announces today receiving an IMC-GAP approval from the Israel Medical Cannabis Agency for the commercial operation of its propagation farm. This approval will allow Canonic to proceed with the execution of its commercialization plan of medical cannabis products.

Canonic’s propagation farm, which was established during 2020 and is now fully operational, is designed for the propagation of cannabis seedlings from its R&D greenhouses. These seedlings are expected to be further cultivated by third-party certified medical cannabis growers. The company intends to establish a value chain from genomics to the end-product, with certain parts of the value chain outsourced to sub-contractors. The company intends to…