24 February 2023, Israel: Canonic Ltd., focused on the development of medical grade cannabis products and a wholly owned subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN), today announced the completion of its launch of six second-generation hybrid cannabis products in Israel. The design and development of these new cannabis products leveraged Evogene’s GeneRator AI tech-engine to select desirable characteristics such as THC (tetrahydrocannabinol) content and certain terpene profiles.
Canonic’s second generation products are characterized by high levels of THC, the primary psychoactive ingredient in cannabis, at 23% and above; the highest THC percentage allowed in Israel being 24.4%. The six new products released into the market in Israel are named: Synergy (THC 24%), Combo (THC 24%), Mosaic (THC 23%), Two Stars (THC 24.2%), Mash Kush (THC 24.4%) and Blend Kush (THC 23.8%).
The new products were developed through breeding programs carried out by Canonic in parallel to the release in 2021 of Canonic’s first-generation two products: G200 (THC 19%) & G150 (THC 18%). The second-generation products were developed using proprietary sets of novel genetic markers developed in collaboration with Evogene, using its GeneRator AI tech-engine, specifically looking for a higher level of THCs and particular terpene characteristics. The use of novel genetic markers directed and accelerated the breeding process towards the unique cannabis lines with desired characteristics, based on market feedback. This made the entire product development process faster and more accurate in achieving the right characteristics in the designed variety.
Eyal Ronen, Chief Executive Officer of Canonic, commented, “Utilizing Canonic’s and Evogene’s advanced technologies for selecting novel genetic markers, allowed us to accelerate & direct the development of our advanced cannabis varieties. We are very proud to have completed the launch of six new products in the Israeli market, and we expect sales growth in 2023. Looking ahead, we will continue the development of our third-generation products, particularly with selecting new and unique terpenes. Furthermore, we intend to sell our products to broader markets starting with Europe.”
Canonic’s new investor presentation is available from Evogene’s investor relations website at https://evogene.com/investor-relations
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