Ms. Iris Bincovich reports

INNOCAN PHARMA'S CLINICAL STUDY IN THE US INDICATES THAT MORE THAN 90% OF PARTICIPANTS EXPERIENCED PAIN REDUCTION AFTER USING INNOCAN'S RELIEF & GO OTC PAIN RELIEF SPRAY

Innocan Pharma Corp. has provided an update on a clinical study conducted by Dr. Josef Geldwert and the Center for Podiatric Care & Sports Medicine in New York. The study indicates that more than 90 per cent of participants experienced reduction in pain after using Innocan's Relief & Go over-the-counter (OTC) pain relief spray. The clinical study was conducted on 18 participants: 10 participants with chronic pain and eight participants with pain associated with other circumstances. Most participants described their pain before using the spray as throbbing and uncomfortable and a few described their pain as distressing. The location of the pain varied from the upper extremities of the back to the lower extremities and feet.

After 20 minutes, 83 per cent of participants noticed immediate improvement in pain.

After 60 minutes, 95 per cent of participants noted relief from pain.

After 24 hours, almost 90 per cent noted relief from pain.

Fifteen of the 18 participants would recommend the Relief & Go pain relief spray.

The Center for Podiatric Care & Sports Medicine in New York specializes in treating chronic problems resulting from sports injuries and active lifestyles.

Dr. Geldwert has over 40 years of experience in foot surgery, biomechanics and sports injuries. In addition, he has been a medical authority to numerous professional sports teams.

In addition, Dr. Geldwert serves as adviser on Innocan Pharma's scientific advisory committee.

Innocan Pharma's Relief & Go pain relief spray is a patent-pending over-the-counter solution designed to relieve pain by combing three different mechanisms in one product: menthol and methyl salicylate with CBD (cannabidiol) and magnesium.

Dr. Geldwert stated: "I have been following up with patients who I have been seeing for foot- and ankle-related problems that have been using Relief & Go pain relief spray, and their responses have been positive. I am impressed by how well patients have been doing with a non-prescriptive OTC pain relief spray."

"We are thrilled that our clinical test yielded such promising results," said Iris Bincovich, chief executive officer of Innocan. "Our unique approach and deep experience is exemplified in these impressive results that I'm certain are only the beginning."

About Innocan Pharma Corp.

Innocan Israel, a wholly owned subsidiary of the company, is a pharmaceutical tech company that focuses on the development of several drug delivery platforms containing CBD. Innocan Israel and Ramot at Tel Aviv University are collaborating on a new, revolutionary exosome-based technology that targets both central nervous system (CNS) indications and the COVID-19 coronavirus using CBD. CBD-loaded exosomes hold the potential to help in the recovery of infected lung cells. This product, which is expected to be administrated by inhalation, will be tested against a variety of lung infections.

Innocan Israel signed a worldwide exclusive licence agreement with Yissum, the commercial arm of the Hebrew University of Jerusalem, to develop a CBD drug delivery platform based on a unique controlled-release liposome to be administrated by injection. Innocan Israel plans, together with Prof. Berenholtz, head of the Laboratory of Membrane and Liposome Research of the Hebrew University of Jerusalem, to test the liposome platform on several potential indications. Innocan Israel is also working on a dermal product that integrates CBD with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals, including, but not limited to, topical treatments for the relief of psoriasis symptoms as well as the treatment of muscle pain and rheumatic pain. The founders and officers of Innocan Israel each have commercially successful records in the pharmaceutical and technology sectors in Israel and globally.

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