- Canonic, a wholly owned subsidiary of Evogene (NASDAQ:EVGN) has signed its first commercial agreement with a licensed medical cannabis cultivator, Telcann Ltd, for the provision of plant growth services in Israel to Canonic.
- With this agreement, Canonic has completed requirements for the production infrastructure of its medical cannabis products, MetaYield and Precise in Israel.
- Canonic is expected to commercialize its first products under its own label from MetaYield program, beginning 2022.
- Under the agreement, Canonic expects to deliver a first batch of its medical cannabis seedlings to Telcann during 2021.
- These seedlings are expected to be grown to maturity, harvested and processed by Telcann and later transferred to a third-party GMP production facility for further processing and preparation for marketing.
- EVGN up 4% premarket.