GC Group is an Israeli pharmaceutical R&D firm engaged in development of several new generic drug products of different types.
As part of the deal, GC Group will develop cannabinoid-based oil formulations that will be tested with unique delivery methods.
The deal will see OWC continue its R&D efforts aimed at identifying cannabinoid-based therapies targeting a variety of different indications that incorporate the delivery methods.
One World Cannabis Research and Regulatory Affairs director Dr Yehuda Baruch said: "We are very excited to about the work we are doing with the experts at G.C. Group.
"This collaboration acknowledges our focused research efforts not only on novel formulations of cannabinoid-based therapies, but also on novel delivery mechanisms."
OWC will continue to collaborate with other industry partners as well as academic medical centers, to develop, clinically research, produce and commercialize new cannabinoid-based therapies targeting several different indications and effectively help patients in need.