Raphael Pharmaceutical is an early-stage drug research and development company focused on cannabinoid-based treatments for inflammatory and autoimmune diseases. Raphael has no approved products, no employees, no manufacturing facilities, and no revenue. Its operations consist entirely of funding and sponsoring pre-clinical and clinical research conducted by third parties. Raphael's lead program targets rheumatoid arthritis, built around a proprietary high-CBD cannabis strain called CBD-X, which research partner Rambam Health Care Campus in Israel has shown reduces pro-inflammatory cytokines in human immune cells and mouse models. In December 2024, Raphael completed a small proof-of-concept clinical study in 12 RA patients, showing a 19.2% reduction in a standard RA disease activity score over 8 weeks. Secondary programs include asthma, where pre-clinical research has been published, and COVID-19, where clinical trial activity has slowed. Oncology is a longer-term ambition. In August 2025, Raphael launched a dietary supplement brand, RaphaWell, as an interim commercial step that bypasses FDA drug approval requirements. The long-term business model targets a licensing and royalty model: if any candidate receives regulatory approval, Raphael intends to license its formulas to third-party manufacturers and distributors rather than producing or selling products itself. Raphael owes Rambam a 6% royalty on net sales from jointly developed IP, and CBD-oil supplier Way of Life Cannabis is entitled to a 15% royalty on net income from products developed at Rambam. The path to drug approval remains long, with no IND application yet filed with the FDA.