The Company
Kanabo is creating a new standard in the medical cannabis industry by improving the well-being of millions around the world. We focus on the distribution of Cannabis-derived products for medical patients, and non-THC products for CBD consumers. We have conducted extensive R&D in order to develop high-quality Cannabis extract formulas, innovative medical-grade vaporizers, and various non-smoking consumption solutions – making use easy and accessible for anyone in need of treatment. Clinical and validation activities, including safety and efficiency tests, are conducted in Israel – an established leader in the Cannabis industry.
The company is selling initial products in Europe already, and is ready to scale up to meet market demands and projected sales and revenues.
History of Cannabis in Israel
Israel is an established leader in Cannabis research and innovation. Israeli scientists became the first to isolate and identify the active compounds of cannabis in the 1960s, and later identified the endocannabinoid system in the 1990s.
After approving cannabis for medical use in the 1990s, the Israeli Ministry of Health initiated their state regulated medical cannabis program in 2007 and licensed farms to produce medical cannabis for patients suffering from approved conditions. In 2011, the country recognized the therapeutic use of Cannabis. Today, there are over 46,000 approved patients in Israel with 8 licensed farms producing and distributing medical cannabis to patients. Those numbers are expected to rise, with the Ministry receiving a reported 300 applications per day.
When compared to the German medicinal Cannabis market, which only began issuing prescriptions in 2007, there are already comparable numbers. While there are no centralized patient numbers in Germany, estimates from 2018 suggest that there are already 60,000 patients consuming cannabis in the country. While the local market remains small, over 100 cannabis companies are currently active in Israel, and some analysts believe the recent move to allow cannabis exports from Israel may unlock a US$4B market. Between 2013-2017, cannabis related Israeli startups have raised $76.4 million in equity. Israel is recognized as a global leader in cannabis research, cannabis healthcare, product innovation, and technology.
History of Kanabo
Kanabo was born out of Founder and CEO Avihu Tamir’s personal experience working with medical Cannabis patients in Israel – a pioneering leader in the field of medical Cannabis. Israel is the first country to allow medical and scientific research of Cannabis, and the first country to establish a national medical Cannabis program for patients. In Israel, a patient prescribed Cannabis is often directed to smoke their prescription – or even mix it with tobacco to ‘make it burn better.’ Concerned about the long-term health effects of smoking, Avihu began exploring and providing healthier options for Israeli medical cannabis patients and others, with a focus on vaporization.
At the time, Avihu found that there were no medical vaporizers for Cannabis patients available in Israel or around the world. He set out to change this, and became the first importer of vaporizers in Israel. He founded the vaporizer import company Teva Nature Ltd., which is still the leading importer and provider of vaporizers to the Israeli market. Avihu has now worked with hundreds of patients over the last several years to provide access to vaporizer devices, training, consultation, and support for patients using medical Cannabis. After learning the market and the different available alternatives, Avihu understood that there was a need for the development of medical grade vaporizer solutions.