SECURITIES AND EXCHANGE COMMISSION
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): July 24, 2017
PHARMACEUTICAL RESEARCH CORP.
(Exact Name of Registrant as Specified in its Charter)
Commission File No.: 0-54856
|(State of Incorporation)||(I.R.S. Employer Identification No.)|
|30 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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 24, 2017, OWC Pharmaceutical Research Corp. (OTCQB: OWCP), hereinafter, the “Registrant”), appointed Dr. Stanley Hirsch to serve as Chairman of the Board of Directors of the Registrant. In connection with the appointment of Dr. Hirsch as Chairman, Mr. Mordechai Bignitz, who has served as Chairman and CEO of the Registrant and its wholly-owned Israeli subsidiary, One World Cannabis Ltd., since July 2014, shall continue to serve as a member of the Registrant’s Board of Directors and as CEO of the Registrant and of One World Cannabis Ltd.
Dr. Stanley Hirsch, age 59, Chairman : Dr. Hirsch has extensive executive and board level experience for more than the past 25 years in private and publicly listed companies in biopharmaceutical and agricultural biotech industries, among others, including direct experience in raising capital and leading M&A activity together with multi-cultural management skills, having managed companies in Israel, Brazil, UK, China and the United States.
From May 2016 to the present, Dr. Hirsch has served as Chairman of the Board of Directors of Foamix Pharmaceuticals Ltd (NASDAQ: FOMX), an Israeli-based clinical-stage specialty pharmaceutical company in late-stage clinical development and commercializing two proprietary products for the treatment of acne, rosacea and other skin conditions. Foamix collaborates with leading global pharmaceutical companies in the creation and commercialization of its advanced skin treatment products.
From August 2007 to the present, Dr. Hirsch has served as Group CEO of FuturaGene Limited and its predecessor company, FuturaGene Plc, which was listed on the AIM-London Stock Exchange, prior to acquisition by Suzano Pulp and Paper of Brazil (SUZB, BOVESPA, Sao Paulo) in July 2010. FuturaGene Limited is a world leader in the development of environmentally friendly solutions that improve and protect crop yields, engaged in the development and delivery of sustainable genetic solutions for global forestry, biopower, biofuels, and agricultural markets.
Dr. Hirsch’s educational experience includes a D.Phil in Cell Biology and Immunology from Oxford University, UK, in 1982, a B.Sc. degree with honors in Medical Biochemistry from the University of Capetown, South Africa in 1979, among other academic honors and awards from Oxford University and University of Capetown .
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.
|99.1||Press Release dated July 25, 2017, filed herewith.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|OWC Pharmaceutical Research Corp.|
|By:||/s/ Mordechai Bignitz|
|Title:||Chief Executive Officer|
Date: July 24, 2017
OWC Pharmaceutical Research Corp Appoints Dr. Stanley Hirsch as its active chairman
Hirsch has extensive scientific, executive and board level experience, directly related to OWCP’s current
scientific and business development efforts.
PETACH TIKVA, Israel, July 25th, 2017 /PRNewswire/ --
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today announced the appointment of Dr. Stanley Hirsch as its active chairman of the board of directors .
Dr. Stanley Hirsch, age 59, has had extensive scientific, executive and board level experience for more than the past 25 years in private and publicly listed companies in biopharmaceutical and agricultural biotech industries, among others, including direct experience in raising capital and leading M&A activity together with multi-cultural management skills, having managed companies in Israel, Brazil, UK, China and the United States.
Mr. Mordechai Bignitz Chief Executive Officer, commented on the appointment, “I am proud and honored to have Dr. Hirsch agreeing to join OWC and assume the role of active chairman. I have known Dr. Hirsch for many years and cooperated with him in the past. Dr. Hirsch brings with him a unique set of skills, both scientific and business, that are in the exact scope of our operations. I am sure that his contribution to our growth will be of major significance.
Dr. Stanley Hirsch commented on his new role “I feel privileged to have received the invitation to serve as OWCP’s active chairman. I have known Mr. Bignitz for more than 20 years and we cooperated extremely successfully in the past. I received an in depth scientific overview from OWCP’s CSO, Dr. Yehuda Baruch and I am sure OWCP’s intellectual assets and scientific achievements position it most advantageously to become a world leader in the field of Cannabis based scientific products.
About OWC Pharmaceutical Research Corp.
OWC Pharmaceutical Research Corp., through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., (collectively “OWC” or the “Company”) conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines.
OWC is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. All OWC research is conducted at leading Israeli hospitals and scientific institutions and led by internationally renowned investigators. The Company’s Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids and cannabis-based products for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.
For more information visit: http://www.owcpharma.com/ .
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, filing patent applications, product development, and business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in OWC Pharmaceutical Research Corp. (OTCQB: OWCP) periodic reports filed from time-to-time with the Securities and Exchange Commission.
Mordechai Bignitz, Chief Executive Officer – OWC Pharmaceutical Research Corp,