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October 22, 2016 / 20 Tishri, 5777

Posts Tagged ‘Wall Street’

Israeli Marijuana Companies Smoking Up Wall Street

Tuesday, December 16th, 2014

The Israeli-based One World Cannabis (OWC) company is going to be traded over the counter on Wall Street after the Dynamic Applications merges with it, Globes business newspaper reported.

Other Israel companies on Wall Street and involved in the marijuana industry are Therapix, Cannabics Pharmaceuticals and Breed It.

Many Wall Street analysts predict that marijuana will become legal throughout the United States and will be a multi-billion dollar industry. Israel has approved allowing family doctors to prescribe medicinal marijuana.

One World Cannabis which deals in research and development of cannabis-based treatments for diseases, including treatments for diabetes, Parkinson’s disease and epilepsy.

There is no evidence to substantiate that smoking marijuana can cure Parkinson’s Disease, but studies show that cannabis can be useful in treating it.

One World Cannabis intends to generate clinical data for various medical conditions based on the development of specific cannabis strains, the combinations of the cannabinoids THC and CBD, and optimal dosages.

The company’s first clinical trials are to be for fibromyalgia, psoriasis/basal cell carcinoma, Post Traumatic Stress Disorder (PTSD) and seizures. The company’s second set of clinical trials, which have not yet begun and are not yet funded, are anticipated to focus on the development of cannabis medicines for Crohn’s Disease, Parkinson’s Disease, Tourette’s Syndrome, migraines, chronic pain, Alzheimer’s Disease, pediatric epilepsy, prostate cancer and diabetes.

One World Cannabis recently raised $2 million and is discussing with several Israeli hospitals the possibility of carrying out clinical trials.

It also plans to set up a non-profit organization on behalf of the use of marijuana for the medical use.

Cannabics Pharmaceuticals is focused on developing and marketing drugs, therapies and food supplements based on the active ingredients found in unique strains of the cannabis plant.

Its main product is Cannabics SR, a sustained release medical cannabis capsule designed for cancer patients as a palliative care treatment.

Cannabics recently received from the Israeli Health Ministry permission to establish an advanced R&D laboratory for medical research in the field of cannabinoid science.

The company says its aim is to be one of the first and few companies in the world to commercialize indication specific and clinically tested cannabis-based medical products.

Dr. Zohar Koren, CEO, stated, “The exciting scientific field of cannabinoid research has been largely neglected throughout most of the 20th century due to a total ban on this field of research. Thus, the available scientific knowledge regarding active cannabinoids and their mechanisms of action in various disease pathways is dramatically lacking in comparison to other therapeutic fields. There is a huge space of uncharted territory to explore with regards to the potential therapeutic roles of this class of compounds for diverse indications.”

Therapix Biosciences Ltd is a specialty pharmaceutical company focused on synthetic cannabinoid-based therapies and has invested $1.5 million in medical cannabis company LaraPharm, which is developing a formulation of THC, the active ingredient in cannabis to work in an inhaler.

Therapix Bio (vegan trade Over the Counter in New York in October.

BreedIT Corp, through its Israeli subsidiary BreedIT Ltd,  develops sophisticated agro-breeding solutions for plant breeders and researchers.

Colorado-based Dr. Alan Shackelford, a practicing physician and expert in cannabinoid medicine, is a member of the company’s scientific advisory board. He was one of the two physicians who prescribed the marijuana strain which has become known as Charlotte’s Web to a six-year old girl, who suffered from 20 to 60 seizures per day from the incurable genetic disorder, Dravet Syndrome, with seizures being reduced to one or two per month.

Tzvi Ben-Gedalyahu

Eric Cantor Joins Wall Street Investment Bank

Tuesday, September 2nd, 2014

Former U.S. House Majority Leader Eric Cantor is joining a Wall Street investment bank as vice-chairman and managing director.

Cantor, 51, who served as the Republican congressman for Virginia’s 7th Congressional District, also will be elected to the board of directors of the global investment bank, Moelis & Company, the bank announced Tuesday.

He will be based in the bank’s New York office and is scheduled to open an office in Washington.

“Eric has proven himself to be a pro-business advocate and one who will enhance our boardroom discussions with CEOs and senior management as we help them navigate their most important strategic decisions,” Ken Moelis, chairman and CEO of Moelis & Company, said in a statement.

After a career in the Virginia legislature, Cantor was elected to the U.S. House of Representatives in 2000 and was made chief deputy whip just two years later, before his 40th birthday.

Cantor, who was the sole Jewish Republican in Congress, was as majority leader the most senior Jewish lawmaker in U.S. history and had ambitions of becoming speaker of the U.S. House of Representatives.

Little-known college professor, David Brat Cantor, who had the national backing of the insurgent Tea Party movement, defeated Cantor in the primary in June. Brat accused Cantor of betraying conservative principles on spending, debt and immigration.

Cantor stepped down from his position as House majority leader and from his congressional seat on Aug. 18.


Goldman Sachs Chief: Rabbi, Jewish Groups Helped Me Succeed

Tuesday, December 3rd, 2013

Goldman Sachs chief Lloyd Blankfein recalled the role of his rabbi and Jewish organizations in helping him realize he could succeed despite growing up in a working-class neighborhood.

“The only person I knew who put on a suit everyday was our rabbi,” Blankfein told a crowd of 1,700 fellow Wall Street insiders and guests Monday night at a $26 million record-breaking fundraising dinner for UJA-Federation of New York.

“Growing up [in public housing in the East New York section of Brooklyn], every family I knew struggled. I thought every Jewish father either drove a cab or worked in the post office. I didn’t know anyone whose father was a doctor, lawyer or other professional,” the Goldman Sachs chairman and CEO said upon receiving the Gustave L. Levy Award at the event at the Hilton New York.

“Today many of you may not know a Jewish family that is struggling, you don’t see them, but there are. There are thousands of families not more than three miles away from here.”

Blankfein credited his rabbi and his involvement in federation-funded afterschool programs and summer camp for helping him “to think about the world beyond East New York,” ultimately leading to his decision to attend college.


Another Israel Pharmaceutical Firm Goes to NASDAQ

Wednesday, October 9th, 2013

Kitov Pharmaceuticals accounted it plans to apply for listing on the NASDAQ exchange, joining Israel-based Teva and Kamada that are traded on Wall Street.

Kitov is hoping for approval from the U.S. Food and Drug Administration (FDA) after its Phase III clinical trial of a combination drug for the treatment of hypertension and pain relief.

The drug has a potential market of $10 billion, and the company’s stock in Israel has climbed almost 10-fold this year.

It also is developing a combination drug for the treatment of osteoarthritis, with the risk of hypertension and other side effects associated with current treatments, Globes reported.

Jewish Press News Briefs

Another Israeli Start-Up to Raise Money on Wall Street

Monday, September 9th, 2013

Israeli start-up Outbrain, which provides a digital content management and storage solution,  sis going to Wall Street to raise $100-200 million in a public stock offering.

The company’s decision to go public rather than sell out to foreign companies puts it in company with Wix, Matomy Media and Fifty One Inc., now called Borderfree, all of which are in the process of offering shares to raise money.

Outbrain’s content recommendations engine is based on what reader’s prefer and is aimed at keeping readers on a news site for a longer time, enabling the site  to sell more advertising.

Its customers include Reuters and The New York Post as well as with companies such as General Electric, which market items on websites.

Tzvi Ben-Gedalyahu

Another Israeli Firm Files for Wall Street IPO

Tuesday, June 4th, 2013

The Israeli-based Wix website developer company has filed for a $75 million initial public offering (IPO) to raise the company’s value to $400 million.

Last week, the Israeli-based Kamada medical treatments company completed an IPO prior its stock trading on NASDAQ last week. Software developer Babylon also has filed for IP, and Caesarstone Sdot Yam Ltd., a maker of quartz-based countertops raised slightly more than $84 million in its IPO a year ago.

Wix, founded in 2006 by CEO Avishai Abrahami, his brother Nadav and Giora Kaplan, has developed an online platform for people to quickly and easily create their own websites.

Wix’s success has resulted in one million new users each month. Altogether, 28 million people have used its services and created 26 million websites. Wix employs approximately 400 people, most in Tel Aviv.

Wix’s business model is based on payments from users for its various premium services, such as larger storage space or options to add sale elements on websites. Users can choose among hundreds of website templates, and choose the colors, size, and other features as they see fit.

Business Insider earlier this year ranked Wix 65th in its Digital 100 list of the world’s 100 most valuable private tech companies, alongside companies such as Twitter and Dropbox.

Jewish Press News Briefs

Exile on Wall Street (Podcast)

Wednesday, February 20th, 2013

Mike Mayo, finance analyst and author of Exile on Wall Street, has been named on Worth Magazine’s list of the most powerful people in finance. On the Goldstein on Gelt show, Mike talks about the changes that need to be made in the world of finance, the recent world finance crisis, and what’s happening on Wall Street today.

Doug Goldstein, CFP®

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/exile-on-wall-street-podcast/2013/02/20/

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