panaxie PNAXa cannabis-focused pharmaceutical company and European specialty pharmaceutical company Neuraxpharm Group announced on Thursday the signing of two addendums to their agreement to expand their cooperation to the Czech and Swiss markets.
What happened?
The collaboration includes Marketing and distribution of advanced medicinal cannabis products, including inhalation cannabis extracts, manufactured by Panaxia.
The move builds on the previous one cooperations between the companies in Germany and France.
The cooperation model will similar to Germany with the common branding Naxiva Panaxol.
Panaxia will lead the manufacture of the products, such as premium pharmaceutical grade medicinal cannabis oils and extracts for inhalation based on clinical data, while Neuraxpharm will be responsible for the marketing, distribution and commercialization of the products in the Czech Republic and Swiss markets will be responsible.
Why is it important?
“We are proud to extend our collaboration with our partner Neuraxpharm to the Czech Republic and Switzerland, two of Europe’s most advanced countries in terms of their medical cannabis policies.” dr Dadi Segal, CEO of Panaxia, said. “We are excited to bring our advanced medicinal cannabis products to patients in both countries and to expand the variety of products offered.”
In addition, Neuraxpharm has created a business unit for medical cannabis at corporate level and established its own sales organization in Germany. To this end, Neuraxpharm has appointed Rita Barataa former Tilray Brands, Inc.‘s TLRY executive, as the new head of specified corporate business unit for medicinal cannabis to accelerate time-to-market and drive growth at the European level.
Panaxia operates two EU-GMP facilities in Israel and Malta, allowing advanced medicinal cannabis products to be exported to most European countries.
What’s next?
First Sale of products in the Czech Republic and availability of scientific information in…
