PETACH TIKVA, Israel, November 3, 2016 /PRNewswire/ -- OWC Pharmaceutical Research Corp. (OTCQB: OWCP), ("OWCP" or the "Company"), through its Israeli based fully owned subsidiary, a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today announced it has inked agreement for a combined JV & Private Placement of $300,000 with Michepro Holding Ltd a private family investment company organized under the laws of the state of Cyprus ("The Investor\ partner "). (Logo: http://photos.prnewswire.com/prnh/20150311/734965-a ) (Photo: http://photos.prnewswire.com/prnh/20161103/435811 ) The Investor will be issued with 2,307,692 restricted shares of the Company's common stock (a price of $0.13 per share) with additional warrants to purchase 761,538 restricted shares at an exercise price of $0.25 per share for a period of 24 months, and additional warrants for 761,538 restricted shares at an exercise price of $0.40 per share for a period of 36 months. In addition to the investment, the parties will establish a joint venture, 75% to OWCP and 25% to Michepro Holding Ltd to promote, sell, market and distribute the Company's potential products in Europe, initially with the psoriasis treatment, to be followed with company's other therapies as they become available." The World Health Organization's 2016 Global Report on Psoriasis states that psoriasis is a serious global problem affecting at least 100 million individuals worldwide. The report indicates the prevalence of psoriasis ranges from 0.09% in countries with warmer climates to 11.43% in Norway, where a colder climate prevails. The European market for psoriasis is estimated to be 15-20 Million patients. Mr. Mordechai Bignitz, OWCP's Chairman and CEO, commented on the announcement, "We are excited to partner with Michepro Holding Ltd. The investment proceeds will be used to accelerate development of several of OWCP's products and support international marketing activities". Mr. Bignitz went on to say: "the recent activity in OWC stock has given rise to numerous investment proposals, but after reviewing the options we believe that Michepro Holding Ltd represents the best opportunity for the Company and our shareholders. Their EU business development experience and marketing expertise, as well as their enthusiasm about our future as a company are very encouraging, and it is the perfect follow-up to the agreement with signed with MedMar for the US." Mr. Bignitz competed, "We believe the European market represents a substantial opportunity. Medical cannabis is already administrated in some countries in Europe, with several markets indicating they are on the brink of approval. Our initial focus will be the Netherlands, Czech Republic, Italy, Germany and the UK." Commenting on his investment, Mr. Michael Brath a Director of Michepro Holding Ltd said, "OWC is the perfect match to our investment strategy; they are pioneers in the field of medical cannabis clinical research and we see incredible value in the work they are doing which is exactly what has been missing from thisMMJ market. We decided to invest and partner with them because I believe that our resources across the EU will significantly accelerate their ability to commercialize those efforts throughout that market - initially with the psoriasis treatment, and then with other therapies as they come online" Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression. Skin cells in patients with psoriasis grow at an abnormally fast rate, causing a buildup of lesions that tend to burn and itch. While the real cause of psoriasis is not known, genetics are believed to play a major role in its development.