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EX-10.21 - OWC Pharmaceutical Research Corp.ex10-21.htm





Washington, D.C. 20549










Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of report (date of earliest event reported): December 29, 2016


(Exact Name of Registrant as Specified in its Charter)


Commission File No.: 0-54856


Delaware   98-0573566
(State of Incorporation)   (I.R.S. Employer Identification No.)


22 Shacham Street. P.O.B. 8324 Petach Tikva, Israel   4918103
(Address of Principal Executive Offices)   (ZIP Code)


Registrant’s Telephone Number, including area code: 972 (0) 3-758-2657


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 1.01. Entry Into A Material Definitive Agreement.


On December 29, 2016, OWC Pharmaceutical Research Corp. (the “Registrant”), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd. (‘OWC”), entered into a Research Agreement with Medical Research Infrastructure Development and Health Services Fund by Chaim Sheba Medical Center, a non-profit organization incorporated under the laws of the State of Israel (the “Fund”), a copy of which Research Agreement is attached as Exhibit 10.21. hereto.


Pursuant to the Research Agreement, the Fund shall perform a Phase I, double blind, randomized, placebo-controlled, maximal dose study (the “Study”) to determine the safety, tolerability of topical cream containing MGC (“Medical Grade Cannabis” or the “Study Drug”) in healthy volunteers, employing the services of Dr. Aviv Barzilay, Director of the Department of Dermatology- Chaim Sheba Medical Center, Tel Hashomer, Israel, to lead the Study (the “Investigator”). The Study shall be conducted in compliance with the following, as defined in the Research Agreement: (1) the Protocol; (2) the Ministry Guidelines; (3) the instructions and terms specified in the Helsinki Committee’s approval; (4) the ICH-GCP; (5) the Helsinki Declarations; (6) the applicable laws, rules and regulations regulating such studies which are applicable in Israel (the “Applicable Laws”); and (7) written instructions and prescriptions issued by the OWC and governing the administration of the Study Drug.


OWC undertakes to pay the Fund the amounts specified in the payment schedule set forth in the Research Agreement.


Item 9.01 Financial Statements and Exhibits.


(a) The following documents are filed as exhibits to this report on Form 8-K or incorporated by reference herein. Any document incorporated by reference is identified by a parenthetical reference to the SEC filing that included such document.


Exhibit No.   Description
10.21   Research Agreement between One World Cannabis Ltd and Medical Research Infrastructure Development and Health Services Fund by Chaim Sheba Medical Center dated December 29, 2016, filed herewith.




  OWC Pharmaceutical Research Corp.
  By: /s/ Mordechai Bignitz
  Name:  Mordechai Bignitz
  Title:  Chief Executive Officer


Date: January 12, 2017