Panaxia and Neuraxpharm have signed an agreement that will see the distribution of advanced medical cannabis products in Poland.
Global pharmaceutical company Panaxia Labs Israel, which specialises in the development, manufacture and marketing of medical cannabis products, and partner Neuraxpharm, a leading European pharmaceutical company focused on the treatment of central nervous system disorders, are expanding their strategic collaboration to bring products to the Polish market.
The agreement strengthens the establishment of Panaxia and Neuraxpharm as key players in the European medical cannabis market, with expectations of expansion into other countries.
Advanced products for Polish patients
The Polish medical cannabis market is based on imports as the law prohibits cannabis cultivation in the country, and the medicine can be issued by any doctor. Poland currently has no definite list of medical indications for which it can be registered.
The exclusive agreement will enable the manufacture, commercialisation, and distribution of Panaxia’s advanced products in Poland after a successful collaboration in Germany and France.
Panaxia will be responsible for the manufacturing of the products, including premium oils and inhaled extracts, complying with European standards, and Neuraxpharm will lead the branding, distribution and marketing of the products to doctors, patients and pharmacies.
CEO of Panaxia Israel, Dr Dadi Segal, commented: “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.”
Panaxia is currently the only company in Israel with an EU-GMP approved plant from the European Health Authority. 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.
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