Panaxia Is Preparing for European Sales: Announces an Agreement for Temporary Use Rights in an R&D Facility in Malta for the Commercial Production and Marketing of Its European Cannabis Products in Europe

April 6, 2020 | Yahoo Finance

Dr. Dadi Segal, Panaxia CEO: “Using the Malta facility is a significant stepping stone as we enter the European market. We believe this makes Panaxia the first company in Israel in the field of medicinal cannabis to begin selling in the EU. We are in progressive stages of registering and certifying our advanced products – starting in Germany and Denmark and other countries to follow. We aim forward to realize Panaxia’s vision to bring our patients in Israel as well as new patients in Europe a broad variety of advanced reproducible and safer medicinal cannabis products, meeting groundbreaking pharmaceutical standards not currently found in the market.”

Pharmaceutical company Panaxia Labs Israel Ltd. (Panaxia Israel) (TASE: PNAX), the largest manufacturer of medical cannabis products in Israel, announced today its contractual agreement with the holder of controlling interest, Panaxia Pharmaceutical Industries, to use the research and development of the holder of controlling interest in Malta for the production and extraction the company’s advanced products (such as oils, inhalers, sublingual tablets, suppositories) designated for the European market.

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