Yissum, the technology transfer office of Hebrew University of Jerusalem, has signed an exclusive license and collaboration agreement with PhytoTech Medical on a delivery system aimed at medical cannabis.

The two will work together on the development, manufacturing, and marketing of a delivery system which will enhance the bioavailability of cannabidiol (CBD) and tetrahydrocannabinol (THC) – the two active ingredients in cannabis.

The move comes after PhytoTech became the first medical cannabis company to flout on the Australian Securities Exchange last week, raising $4.7m at $0.20 per share.

Yaacov Michlin, Yissum’s CEO, said: “We are very pleased to collaborate with PhytoTech in developing the inventions of Professors Domb and Hoffman for the purpose of delivering the active components in cannabis. Medical cannabis is increasingly being used for a variety of indications, such as reducing nausea during chemotherapy and relieving pain and muscle spasticity in MS patients. Development of state-of-the-art delivery systems for the active ingredients will undoubtedly pave the way for a wider variety of clinical indications for these types of drugs.”