Israel’s Nextar setting up medical cannabis incubator

Nextar, one of Israel’s leading companies in the development of formulations for drugs, is expanding into medical cannabis formulations. The company will invest in setting up a development center and incubator for medical cannabis products. The incubator, to be called Nextage, will probably accept six companies a year and initially invest $100,000-400,000 in each company, with an option for more later on. The incubator will receive various services from Nextar, including pharmaceutical, laboratory, analytic testing, business development, and clinical trial management services.

In addition to the companies founded in the incubator, which can be cannabis formulation companies or companies with a relevant medical device, Nextar will also provide cannabis development services to external companies and overseas companies, and will develop independent cannabis products. The company will invest $5 million in the venture, and will also raise capital from external parties. An initial cooperative agreement has already been signed with ... read more at: