Medical Cannabis Firm Chaired By Ehud Barak Raises $12 Million

The Israeli medical technology company InterCure, now known as Canndoc Pharma after acquiring medical cannabis firm Canndoc, announced last week that it raised $12 million in a new funding round. Half of the funds were invested by InterCure controlling shareholder Alex Rabinovich, and the other half by GMF Capital founder Gary Fegel.

In September, InterCure announced that announced the appointment of former prime minister Ehud Barak as chairman of the board.

Barak appeared at a conference hosted by InterCure last week at the Tel Aviv Stock Exchange (TASE), telling the audience: “I’ll do everything I can to help the company, in financing rounds for InterCure and Canndoc and in development activity and production in Israel and abroad.”

He also said he has “never encountered such great interest and such a big dream, which seems to have behind it both science and broad movement.”

Globes reported that since the company appointed Barak as chairman, its share price has risen 900 percent, and its value has doubled. The Israeli business daily also reported that Fegel is a close associate of Barak’s and is invested in a number of companies in which he is involved.