Panaxia and Neuraxpharm extend their strategic collaboration to France with medical cannabis

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TEL AVIV, Israel, November 23, 2020 / PRNewswire / – Panaxia Global, majority owner of Panaxia Labs Israel Ltd. (“Panaxia Israel”), (TASE: PNAX), Israel the largest manufacturer of medical cannabis products, and its partner, Neuraxpharm, From Europe pharmaceutical leader specializing in the central nervous system (CNS) announced today that it is expanding its strategic collaboration in the French market and that it has signed a binding memorandum of understanding between Panaxia and its subsidiary Neuraxpharm France for the manufacture, marketing and distribution of advanced medical cannabis products by Panaxia in France, including exclusivity for Panaxia products.The commercial collaboration between the parties is based on a model similar to that Germany: Panaxia will be responsible for manufacturing the products it has developed to strict clinical standards, such as medicinal cannabis oils and tablets, in accordance with European Good Manufacturing Practice Guidelines (EU-GMP), and Neuraxpharm will be responsible for marketing, branding, distribution and sales of products to doctors, patients and pharmacies France.

As part of the collaboration, in a first phase, companies will submit a joint response to the call for tenders launched by the French government and the National Agency for the Safety of Medicines and Health Products (ANSM) for a pilot regulation of the medical cannabis industry in the country. . This is a prestigious pilot project that is expected to start in the next few months and continue for around two years, during which they will select a few companies that will provide medical cannabis products free of charge to 3,000 patients who meet the determined criteria.

At the end of the pilot, the French government will decide on a license to use and sell medical cannabis products in France. Subject to ANSM approval, Panaxia, which is currently the only Israeli company certified EU-GMP from a European agency for the production and export of medical cannabis according to European and international standards, will seek regulatory approval. to the French authorities for the marketing and distribution of products.

Dr Jörg-Thomas Dierks, Said the CEO of Neuraxpharm, “We are delighted to expand our strategic collaboration with Panaxia. As part of our commitment to finding new solutions to meet patient needs, we are very pleased to be pioneers in the emerging medical cannabis industry by France and expand our portfolio of CNS products for our patients. We believe that in the years to come, France will also join the accelerated trend of L’Europe  and embrace the use of medical cannabis for patients who meet the criteria for various indications. ”

Dr. So Segal, CEO of Panaxia Global, said: “We are proud to extend our collaboration with our partner, Neuraxpharm, as a European pharmaceutical leader specializing in CNS, by France as well as. France is a strategic market for Panaxia and reflects the process of regulatory change that has taken place in European countries in recent years. It shows a growing openness to the regulation of medical cannabis use and internalizes the benefits of using quality medical cannabis products according to scientifically substantiated standards. The collaboration with Neuraxpharm positions us as a leading and quality player in the medical cannabis market in France, which is poised to experience accelerated growth, both thanks to our capabilities and extensive experience in the development and production of processed and advanced cannabis products that comply with regulatory requirements and market leadership and Neuraxpharm’s marketing and sales forces. ”

About Panaxia Israel

Panaxia Labs Israel, Ltd. is a publicly traded company on TASE (TASE: PNAX). It is the largest Israeli manufacturer and home distributor of medical cannabis products, and the first to receive approval from the Israeli Ministry of Health for the manufacture of medicinal cannabis products (according to the IMC guideline- GMP) as well as EU-GMP Standard Certification required for the commercial production and export of medical cannabis and its products to L’Europe . The company manufactures more than 30 hemp-based medicines and has accumulated a large base of clinical experience based on tens of thousands of patients.

Panaxia is a subsidiary of the Segal Pharma group, owned by the Segal family and founded over forty years ago. The company manufactures more than 600 different pharmaceutical products which are distributed in more than 40 countries around the world.

Visit the Panaxia website at https://panaxia.co.il/

About Neuraxpharm – the European CNS specialist

Neuraxpharm is a leading European specialty pharmaceutical company specializing in the treatment of central nervous system (CNS) disorders with a direct presence in Germany, Spain, France, Italy, Czech republic, Poland, Austria, Suisse, Slovakia, UK, Hungary and Portugal. Neuraxpharm has had a unique understanding of the CNS market for over 35 years.

With a focus on the CNS, Neuraxpharm develops and markets value-added drugs, standard generics and consumer health products, for example probiotics and other nutraceuticals, and continually strives to offer a wide range of ” effective, high-quality and affordable CNS treatment options by L’Europe .

Present with its products in more than 50 countries, Neuraxpharm also manufactures pharmaceutical products and active pharmaceutical ingredients at its own manufacturing sites in Spain, Lesvi et Inke.

In September 2020, Permira, the global private equity firm, has announced that it has agreed to acquire Neuraxpharm from Apax Partners. The transaction is subject to customary closing conditions and is expected in the fourth quarter of 2020.

To learn more about Neuraxpharm, please visit: https://www.neuraxpharm.com

For more information:

Noa leviel
[email protected]

SOURCE Panaxia Pharmaceutical Industries

Related links

https://panaxia.co.il/

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