The companies Panaxia and Neuraxpharm are reported to have signed an agreement for the distribution of advanced medical cannabis-based products in Poland. First sales are expected during H1 of 2022
TEL AVIV, Israel– Panaxia Labs Israel Ltd. (TASE: PNAX), a global pharma company, specializes in developing, manufacturing and marketing advanced medical cannabis products in pharmaceutical quality and its partner, Neuraxpharm, Europe’s leading Pharma Company focused on the treatment of Central Nervous System (CNS) disorders, announced today expanding their strategic collaboration into the Polish market. The companies signed an exclusive agreement to the manufacture, commercialization, and distribution of Panaxia’s advanced medical cannabis-based products in Poland, a large market with significant growth potential in European and global standards, after a former successful collaboration in Germany and France.
Dr. Dadi Segal, CEO of Panaxia Israel: “We are thrilled to deepen our strategic collaboration with Neuraxpharm and enter a new market for us in Europe. The Polish market is eagerly awaiting progressive cannabis-based solutions for thousands of patients all over the country. This market has a substantial growth potential in relation to both the European and the Global market.”
The commercial collaboration between both companies will be executed in a similar model to their cooperation in Germany: Panaxia will be responsible for the manufacturing of the products, developed under strict clinical standards. The products will include premium oils, and inhaled extracts, complying with European standards (EU-GMP). Neuraxpharm will be in charge of the branding, distribution and marketing of the products to doctors, patients and pharmacies in Poland.
This agreement strengthens the establishment of Panaxia and Neuraxpharm as key players in the European medical cannabis market and is expected to expand to other countries.
Panaxia is the only company in Israel with an EU-GMP approved plant from the European Health Authority, which allows the export of all types of medical cannabis products to most European countries.
Initial sales of the products in Poland are expected during the first half of 2022, subject to the completion and receipt of the regulatory approvals and registrations of the Polish authorities for marketing and distribution and the export permits from Israel.
(This information is primarily sourced from Panaxia Labs Israel Ltd. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).