Panaxia Overview
Panaxia Pharmaceutical Industries specializes in the research, development, and manufacturing of medical cannabis. The company's goal is to align medical cannabis with formulation technologies and the highest available pharmaceutical standards. Panaxia currently manufactures a variety of standardized medical cannabis products including sublingual and oral tablets, metered-dose inhalers, creams, and suppositories. The company's products, manufacturing facility, and production processes are subject to stringent quality assurance procedures. Panaxia is part of the Panaxia Medical Devices and Pharmaceuticals Group. Panaxia's R&D center is located in Israel and is managed by senior scientists and graduates of the Weizmann Institute of Science. Panaxia offers more than 600 medical products in over 30 international markets to treat a wide range of symptoms and conditions.
Cumulative Funding Raised Over Time ($)
$6.3MApr 2020
$6.6MJan 2024
$11.6MNov 2020
Latest News
Unknown
עמוס לוזון נסוג - ופנאקסיה תימכר למייסד תמורת מחיקת החוב
The text provided is in Hebrew and does not provide enough information for a complete analysis.
Unknown
growth-positive
Panaxia and Neuraxpharm to enter new medical cannabis markets in Europe
Neuraxpharm Group and Panaxia have signed an agreement to expand their collaboration into the Czech and Swiss markets for the distribution of medical cannabis products. The collaboration includes the marketing and distribution of advanced medical cannabis products, with Panaxia managing the manufacturing and Neuraxpharm responsible for marketing and distribution. The agreement strengthens the position of both companies in the European medical cannabis market, and they plan to expand the agreement to other countries. Neuraxpharm has created a dedicated business unit for medical cannabis and appointed a new head for the unit. The first sales of products in the Czech Republic and availability of scientific information in Switzerland are expected to begin by the end of 2022.
PartnersExpand
growth-positive
Panaxia announces production license of medical cannabis products in Malta
Panaxia Global has received an official license from the health authorities in Malta to manufacture finished medical cannabis products. This allows the company to start production in their local facility in Malta and export and market their products in accordance with European standards. The immediate largest markets for Panaxia are Germany, Poland, UK, and Brazil. The company is excited to have their products accessible to more patients in Europe. The license was obtained with the assistance of Malta Enterprise. Panaxia aims to target the British and Brazilian markets, as well as other countries that require registration of the products in the country of origin. The UK market is estimated to have around 1.4 million patients who can access medical cannabis. Panaxia is the first and only company to export and market inhaled medical cannabis extracts in Germany and Europe.
CustomersPartners
growth-positive
Panaxia's facility in Malta granted EU-GMP Standard
Panaxia Global has received official approval for the EU-GMP standard for its production facility in Malta from the EU Health Authority. This approval allows the company to export its medical cannabis products to EU countries. Panaxia now owns two facilities with the EU-GMP standard, making it the first and only medical cannabis company in Israel to have a facility in the European Union. The approval significantly increases the companys export capacity and allows it to enter new markets. Panaxia already has marketing permits in Germany and Cyprus and regularly exports its products to these countries from its facility in Israel. The company also obtained a marketing permit for cannabis extracts for vaporization in Germany and has a regulatory permit for the distribution of medical cannabis tablets in France.
PartnersCustomers
growth-positive
From vision to reality: Panaxia and Neuraxpharm are the world's first companies to sell medical cannabis extracts for inhalation in Europe
Panaxia Global, a global pharma company specializing in medical cannabis products, has announced the first commercial export of its medical cannabis extracts for inhalation to Germany. This marks a significant milestone for the company, as it is the first and only company with a permit to market cannabis extracts for inhalation in Germany and Europe. The products will be marketed under the Naxiva-Panaxol brand in collaboration with partner Neuraxpharm. Panaxia views this expansion into the German market as a strong growth opportunity and expects to capture significant market share in the coming years. The company also plans to register and market additional advanced products in partnership with Neuraxpharm. Panaxia is a subsidiary of Panaxia Pharmaceutical Industries and is a pioneer in the medical cannabis market in Israel.
CustomersPartners
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $11.6M |
| Last funding | $270K |
| Stage | Public |
| Rounds | 3 |
| Investors | 7 |
Team Members
4
Employees: 51-200
Web & Social Links
| Website | panaxia.co.il |
| Careers | Careers page |
Locations
Bat Sheva St 1, Lod, Israel
Photos & Videos
1 item(s)
Panaxia Business
Business models
B2C, B2B
Product stage
Released
Employees
51-200
Sector
Health Tech & Life SciencesPharma & Medical BiotechnologyMedical CannabisTarget Customer
Healthcare & Life SciencesLife SciencesPharmaceuticalsCore Technology
Materials & SubstancesRaw MaterialsTags (7)
biotechnologypharmaceuticalsbiopharmaceuticalcannabispain-reliefmedical-cannabistopical-treatmentGeographic Markets
FranceGreeceIsraelEuropePolandMaltaPortugalAustraliaGermanyCyprusPanaxia Financials
$11.6M
Total funding
Undisclosed
Capital raised
$270K
Last funding
Public
Funding stage
3
Total rounds
7
Investors
Cumulative Funding Raised Over Time ($)
$6.3MApr 2020
$6.6MJan 2024
$11.6MNov 2020
Private Equity Funding
PIPE
Jan 2024
$270K
PIPE
Nov 2020
$5.03M
Undisclosed Investor(s)
PIPE
Apr 2020
$6.3M
Eran Goldberg, Ran Nussbaum, Dadi Segal, Israeli Institutional Investors, Assi Rotbart, Jonathan Kolber
Public Offering / Exit
MNAEvent
Mar 2024
Undisclosed
ReverseMergerEvent
Sep 2019
Undisclosed
Panaxia Lifecycle
Cumulative Funding Raised Over Time
$6.3MApr 2020
$6.6MJan 2024
$11.6MNov 2020
All Events
PIPE
Jan 2024
$270K
PIPE
Nov 2020
$5.03M
Undisclosed Investor(s)
PIPE
Apr 2020
$6.3M
Eran Goldberg, Ran Nussbaum, Dadi Segal, Israeli Institutional Investors, Assi Rotbart, Jonathan Kolber
MNAEvent
Mar 2024
Undisclosed
ReverseMergerEvent
Sep 2019
Undisclosed
Panaxia News
46 articles
Unknown
עמוס לוזון נסוג - ופנאקסיה תימכר למייסד תמורת מחיקת החוב
The text provided is in Hebrew and does not provide enough information for a complete analysis.
Unknown
growth-positive
Panaxia and Neuraxpharm to enter new medical cannabis markets in Europe
Neuraxpharm Group and Panaxia have signed an agreement to expand their collaboration into the Czech and Swiss markets for the distribution of medical cannabis products. The collaboration includes the marketing and distribution of advanced medical cannabis products, with Panaxia managing the manufacturing and Neuraxpharm responsible for marketing and distribution. The agreement strengthens the position of both companies in the European medical cannabis market, and they plan to expand the agreement to other countries. Neuraxpharm has created a dedicated business unit for medical cannabis and appointed a new head for the unit. The first sales of products in the Czech Republic and availability of scientific information in Switzerland are expected to begin by the end of 2022.
PartnersExpand
growth-positive
Panaxia announces production license of medical cannabis products in Malta
Panaxia Global has received an official license from the health authorities in Malta to manufacture finished medical cannabis products. This allows the company to start production in their local facility in Malta and export and market their products in accordance with European standards. The immediate largest markets for Panaxia are Germany, Poland, UK, and Brazil. The company is excited to have their products accessible to more patients in Europe. The license was obtained with the assistance of Malta Enterprise. Panaxia aims to target the British and Brazilian markets, as well as other countries that require registration of the products in the country of origin. The UK market is estimated to have around 1.4 million patients who can access medical cannabis. Panaxia is the first and only company to export and market inhaled medical cannabis extracts in Germany and Europe.
CustomersPartners
growth-positive
Panaxia's facility in Malta granted EU-GMP Standard
Panaxia Global has received official approval for the EU-GMP standard for its production facility in Malta from the EU Health Authority. This approval allows the company to export its medical cannabis products to EU countries. Panaxia now owns two facilities with the EU-GMP standard, making it the first and only medical cannabis company in Israel to have a facility in the European Union. The approval significantly increases the companys export capacity and allows it to enter new markets. Panaxia already has marketing permits in Germany and Cyprus and regularly exports its products to these countries from its facility in Israel. The company also obtained a marketing permit for cannabis extracts for vaporization in Germany and has a regulatory permit for the distribution of medical cannabis tablets in France.
PartnersCustomers
growth-positive
From vision to reality: Panaxia and Neuraxpharm are the world's first companies to sell medical cannabis extracts for inhalation in Europe
Panaxia Global, a global pharma company specializing in medical cannabis products, has announced the first commercial export of its medical cannabis extracts for inhalation to Germany. This marks a significant milestone for the company, as it is the first and only company with a permit to market cannabis extracts for inhalation in Germany and Europe. The products will be marketed under the Naxiva-Panaxol brand in collaboration with partner Neuraxpharm. Panaxia views this expansion into the German market as a strong growth opportunity and expects to capture significant market share in the coming years. The company also plans to register and market additional advanced products in partnership with Neuraxpharm. Panaxia is a subsidiary of Panaxia Pharmaceutical Industries and is a pioneer in the medical cannabis market in Israel.
CustomersPartners
growth-positive
השאיפה של פנאקסיה מתגשמת; היא תחלחל גם לשורה התחתונה?
Israeli cannabis company, Panaxia, has received permission from the Ministry of Health to market unique cannabis extracts for inhalation outside of Israel. The company does not grow cannabis itself but focuses on its processing. Panaxias product already has marketing approval in Germany and a marketing agreement with pharmaceutical company Neuraxpharm, so marketing of the products will begin soon. Panaxia is also applying for product approval in other European countries. The company is traded at a value of 188 million shekels.
ExpandCustomersPartners
growth-positive
Panaxia and Neuraxpharm Expands Strategic Collaboration to Poland
Panaxia Labs Israel and Neuraxpharm have expanded their strategic collaboration into the Polish market. They have signed an exclusive agreement for the manufacture, commercialization, and distribution of Panaxias advanced medical cannabis-based products in Poland. This collaboration strengthens their position 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, allowing the export of medical cannabis products to most European countries. Initial sales in Poland are expected in the first half of 2022, subject to regulatory approvals. The medical cannabis market in Poland has significant growth potential, with approximately 300,000 potential patients eligible for medical cannabis treatments.
PartnersCustomers
growth-positive
Panaxia & AxioNovo GmbH will market cannabis-based products in Germany
Panaxia Labs Israel and AxioNovo GmbH have signed an agreement for the marketing, sale, and distribution of a new series of medical cannabis products in Germany. The products, designed for oncology patients, will be manufactured by Panaxia under European standards and distributed by AxioNovo. This partnership is part of Panaxias collaboration with Neuraxpharm. The agreement is for 5 years and the products are expected to be available in Germany in the 3rd quarter of 2021, pending regulatory approval. Panaxia is a global pharma company specializing in medical cannabis products, while AxioNovo is a German pharmaceutical company focused on oncology.
Partners
growth-positive
פנאקסיה נכנסת לתחום האונקולוגיה בגרמניה
Israeli medical cannabis company Panaxia has announced an exclusive agreement with European pharmaceutical company AxioNovo GmbH, a leader in oncology and chemotherapy in Germany, for the distribution, marketing and sale of a new series of medical cannabis oils. The agreement was signed as part of Panaxias collaboration with pharmaceutical company Neuraxpharm GmbH in Germany. The agreement is for a period of 5 years and as part of it, Panaxia will produce the products while complying with European regulation (EU-GMP), and will work to register them for marketing according to regulatory requirements in Germany.
PartnersExpand
growth-positive
Panaxia Israel continues growth trend in the first quarter of 2021: reports record revenues of 19.7 million
Panaxia Labs Israel, Israels largest medical cannabis company, has published its financial results for the first quarter of 2021. The company reported record revenues of 19.7 million, a growth of 62% compared to the previous year. The gross profit for the quarter was 822,000. Panaxia Israel is focused on implementing its global strategy, including the development, production, and export of its brands to premium markets. The company plans to expand its product supply and start marketing and sales of advanced products in the future. Panaxia Israel is the only company in Israel with EU-GMP certification, allowing it to export to Europe. The company aims to establish exclusive partnerships with global pharmaceutical companies. Panaxia Labs Israel is a subsidiary of Panaxia Pharmaceutical Industries and operates in multiple countries.
CustomersPartners
growth-positive
Panaxia and Leriva announced: Exclusive collaborations in Greece
Panaxia Labs Israel has announced a binding agreement with Leriva Group for the manufacture, commercialization, and distribution of medical cannabis products in Greece. Panaxia will develop and manufacture the products, while Leriva will market, sell, and distribute them to patients. This partnership allows Panaxia to enter the Greek medical cannabis market, which has not yet seen any products receive marketing authorization. Panaxia is expected to be among the first companies to register its products for marketing in Greece. The agreement is set to take effect upon the completion of product registration. Panaxia also exports and markets its products in Germany, France, and Cyprus. The first sales of Panaxias products in Greece are anticipated in 2022.
Partners
growth-positive
Panaxia sells Israeli cannabis pharmacy to focus on exports
Panaxia Israel is selling its pharmacy and distribution business to IMC for NIS 20 million. The sale is seen as a profitable mini-exit for Panaxia. The company plans to focus on developing new products and expanding its export activity. Other Israeli cannabis companies are buying pharmacies to own the whole value chain. Panaxia recently announced revenue growth of 56% in Q1 2021. The European market represents a bigger opportunity for Panaxia than the Israeli market. Tikun Olam-Cannbit has signed a significant agreement for the sale of cannabis oils to the UK market.
CustomersPartners
growth-positive
https://www.jpost.com/israel-news/how-did-one-company-take-charge-of-israels-medical-cannabis-market-665033
Israeli medical cannabis company Panaxia reported a record growth of at least NIS 19 million in revenue for the first fiscal quarter of 2021, a 56% growth compared to the corresponding quarter last year. The growth is attributed to the companys regulatory planning and export strategy, as Panaxia became the first Israeli company to receive approval to commercially export medical cannabis abroad. They have since begun exporting to Australia, Germany, France, and Cyprus. The success is not due to a rise in demand for medical cannabis or a technological edge, but rather the ability to meet the standards required by the EU-GMP license. Panaxias growth is in contrast to other major Israeli medical cannabis companies that have seen financial losses.
PartnersCustomers
growth-positive
Ocean Grown Ventures breaks into CBD with Tikva
Ocean Grown Ventures has partnered with Panaxia Pharmaceuticals to offer Tikva, a line of CBD products manufactured to strict pharmaceutical standards. The partnership aims to provide safe, consistent, and efficacious CBD solutions. The products are manufactured at a U.S. facility with the same standards as Panaxias Israeli laboratories. Tikvas product line includes tablets, creams, oils, and bath balms. Panaxia Pharmaceuticals, an Israeli-based manufacturer, has a decade of experience in the industry, giving Tikva products an advantage in the U.S. market.
Partners
growth-positive
פנאקסיה הוציאה משלוח ראשון של מוצרי קנאביס רפואי לצרפת
Israeli medical cannabis manufacturer, Panaxia, has announced its first shipment of medical cannabis products to France as part of a government program. The shipment, under the brand NAXIVA-PANAXIR, marks the first time an Israeli company has exported medical cannabis products to France. Panaxia is expected to continue shipments to France in the coming years. The company was also recently selected as a primary supplier, along with its partner Neuraxpharm, for a pilot program in Frances medical cannabis sector. The program will involve around 3,000 patients who will receive medical cannabis treatment for various conditions. Panaxia is planning to expand its business in the European market, with upcoming shipments to Cyprus and Germany.
CustomersPartners
growth-positive
פנאקסיה קיבלה היתרי יצוא ראשונים לצרפת
פנאקסיה מעבדות ישראל, יצרנית מוצרי הקנאביס הרפואי, קיבלה היתרי יצוא מסחרי ראשונים לצרפת ממשרד הבריאות. החברה נבחרה כספקית ראשית בפיילוט של ממשלת צרפת והסוכנות הלאומית הצרפתית לבטיחות תרופות ומוצרי בריאות (ANSM) לאסדרת ענף קנאביס רפואי בצרפת. הפיילוט יכלול 3,000 מטופלים ויימשך כשנתיים. פנאקסיה תספק את מוצרי הפרימיום שלה מסדרת Naxiva-Panaxir. משלוחים ראשונים צפויים לצאת ממתקן החברה בתחילת מרץ.
PartnersCustomers
growth-positive
Government of Cyprus selects Israeli company Panaxia: Will purchase its premium oils for the country's medical cannabis patients
Panaxia Labs Israel has been selected by the government of Cyprus to supply premium oils for medical cannabis patients in the country. The company has received final approval for an order and import permits for the products. Panaxia will initially export two types of medical cannabis oil in different concentrations, produced according to EU-GMP requirements and pharmaceutical standards. The option of expanding the product range will be considered in the future. The government of Cyprus has permitted the use of cannabis for medical purposes since 2016, and Panaxia is the largest manufacturer and distributor of medical cannabis products in Israel. Panaxia is a subsidiary of the Segal Pharma Group.
Partners
growth-positive
https://www.jpost.com/health-science/israeli-medical-cannabis-company-selected-for-exclusive-french-pilot-657204
Panaxia Pharmaceuticals, along with its European partner Neuraxpharm, has been selected as one of only four suppliers for a pilot program by the French government and the French National Agency for Medicines and Health Products (ANSM). The pilot program, which will include 3,000 patients and last about two years, aims to register and issue medical cannabis prescriptions to patients with certain diseases. Panaxia will provide four products under the Naxiva-Panaxir brand, including two types of medical cannabis-based oils and two types of sublingual tablets. At the end of the pilot, a decision will be made on whether Panaxia will receive a permit for the use and sale of medical cannabis products in France. Panaxia sees this opportunity as a potential for high earnings in the future.
Partners
growth-positive
https://www.jpost.com/health-science/first-commercial-medical-cannabis-export-from-israel-lands-in-germany-653275
Panaxia, Israels leading medical cannabis company, has completed its first commercial export of medical cannabis products to Germany. Germany has the worlds fastest growing medical cannabis market outside of the United States, with 120,000 patients already being treated using medical cannabis products. Panaxia expects the German market to expand to 800,000 patients over the next four years. They will sell premium oil-based medical cannabis products in Germany under the Naxiva-Panaxol brand, in partnership with Neuraxpharm. This strategic partnership is crucial for Panaxias success in Germany. Panaxia has also received commercial medical cannabis export permits to Australia and Portugal, giving them an advantage over their Israeli competitors. However, delays in export permits due to political issues in Israel may further solidify Panaxias lead in the market.
CustomersPartners
growth-positive
Panaxia and Neuraxpharm Expand Strategic Collaboration to France with medical cannabis
Panaxia Global and Neuraxpharm are expanding their strategic collaboration into the French market. They have signed a memorandum of understanding for the manufacture, commercialization, and distribution of Panaxias medical cannabis products in France. Panaxia will handle manufacturing while Neuraxpharm will handle marketing and distribution. The collaboration includes a joint response to a tender issued by the French government for a pilot program to regulate the countrys medical cannabis industry. At the end of the pilot, the French government will decide on a permit to use and sell medical cannabis products in France. Panaxia is the only Israeli company with EU-GMP certification for production and export of medical cannabis. Neuraxpharm is a leading European pharmaceutical company specialized in CNS.
PartnersCustomers
growth-positive
https://www.jpost.com/israel-news/israels-first-commercial-medical-cannabis-export-lands-in-australia-649474
Panaxia, in partnership with Seach Medical Group, has successfully exported medical cannabis flowers and products to Australia, marking the first commercial export of medical cannabis from Israel. Panaxia received its export license from Israels Health Ministry and is the first company to be approved for export. The export market had been frozen due to a failed reform in the medical cannabis market, but a pilot program initiated by Health Minister Yuli Edelstein and Deputy Health Minister Yoav Kisch aims to lower prices and ensure steady supplies before allowing companies to export. Panaxia also received approval to send medical cannabis products to Portugal in partnership with Canndoc. The company sees this export as the first of many and aims to bring additional value to its investors.
PartnersCustomers
growth-positive
פנאקסיה גייסה 17 מיליון ש"ח ממוסדיים בדיסקאונט שערורייתי של 57%
Panaxia Israel, a medical cannabis manufacturer, has raised around 17 million NIS through a private allocation of restricted shares and option warrants. The funds will be used to implement the companys strategic plans, including exporting to Germany and expanding to other countries. In addition to the amount raised, the company will receive a non-recurring commitment from the controlling shareholders to invest a minimum of an additional 8 million NIS in exchange for restricted shares and option warrants.
InvestmentExpand
growth-positive
Panaxia is the first Israeli company to receive a marketing permit for medical cannabis products in Germany
Panaxia Labs Israel, the largest medical cannabis manufacturer in Israel, has received final regulatory approval from health authorities in Germany for the marketing and distribution of a line of medical cannabis premium products. The approval allows Panaxias partner, Neuraxpharm, to market the products in Germany to authorized physicians for the treatment of various diseases. Panaxia is the first Israeli company to receive a marketing permit for medical cannabis products in Germany. Panaxia is a subsidiary of the Segal Pharma Group and manufactures over 600 different pharmaceutical products distributed worldwide.
PartnersCustomers
growth-positive
Panaxia Global Reports: Panaxia Israel Continues to Grow
Panaxia Labs Israel, the largest manufacturer of medical cannabis products in Israel, reported its financial results for the second quarter and first half of 2020. The company experienced significant growth, with revenues increasing by over four times compared to the previous year. The growth was attributed to increased demand for their quality products and the expansion of their home delivery service. Panaxia also received EU-GMP certification, positioning them as a leader in the global cannabis industry. The company plans to export and sell to Europe by the end of 2020. Additionally, Panaxia raised capital through a private issuance of blocked stock and warrants, with investors including MORE Investment House and an anonymous investor. The companys cash and cash equivalents also increased. Overall, the article has a positive impact on the companys growth and highlights their financial success and expansion plans.
CustomersInvestment
https://www.news1.news/en/2020/07/panaxia-has-signed-a-final-agreement-with-the-german-pharmaceutical-company-neuroxpharm.html
growth-positive
Green Light: EU grants Panaxia certification for exporting medical cannabis
Israel-based Panaxia Pharmaceutical Industries Ltd. has received EU-GMP certification, allowing it to export medical cannabis to EU member countries. This makes Panaxia the first publicly held medical cannabis company in Israel to receive the standard. The certification is broader than any previously granted to Israeli companies active in the European market, enabling Panaxia to produce and export medical cannabis products in various forms. The potential revenues of cannabis exports from Israel to all target countries is estimated to be around $1 billion a year for the first four years of export.
CustomersPartnersExpand
growth-positive
Panaxia To Use R&D Facility In Malta To Market Cannabis Across Europe
Panaxia Labs Israel has announced a contractual agreement to use a Maltese R&D facility for expanding its offerings to the European market. The company plans to manufacture medical cannabis products such as oils, inhalers, tablets, and suppositories in the facility. Panaxia expects to launch its Maltese activity within a few months and aims to start selling in Denmark and Germany, with plans to expand to other European countries. This move marks Panaxia as the first Israeli company in the field of medicinal cannabis to enter the EU market.
PartnersExpand
growth-positive
Panaxia Raises Over $6M In Capital For European Expansion - Benzinga
Panaxia Labs Israel has finalized a private placement of common stock and warrants, raising a total of 23 million ILS ($6.3 million) in gross proceeds. The funds will be used to support strategic projects, including marketing, export, and sales in Europe. The private placement was completed successfully despite the challenging financial market conditions and the COVID-19 crisis. Panaxias chairman, CEO, CTO, general manager, and managing partner were among the investors who participated in the offering. The company plans to penetrate and expand into the European market while continuing to grow its business in Israel.
Investment
growth-positive
A first-of-its-kind permit to export cannabis oil from the US to Israel was granted to Panaxia and its partner Ultra Health
Panaxia Israel, the largest manufacturer and distributor of pharmaceutical cannabis products in Israel, has imported hemp extracts from the US to manufacture CBD-rich cannabis products. The company has been granted a first-of-its-kind permit to export cannabis oil from the US to Israel. The extracts will be used to produce CBD-rich medicinal cannabis products for specific groups of patients, including children with epilepsy or autism spectrum disorder. Panaxia aims to produce enough inventory to meet several months of demand in Israel. The companys partner, Ultra Health, operates the manufacturing facility in New Mexico. The partnership between Panaxia and Ultra Health has been successful, and they have agreed to expand production further.
PartnersCustomers
growth-positive
Hemp-based products of Panaxia US and partner Ultra Health receive distribution and manufacturing license: Having passed the New Mexico NMED audit, Panaxia US received a first-of-its-kind license to manufacture and distribute products throughout the US
Panaxia US and its strategic partner Ultra Health have been granted a license to manufacture and distribute hemp-based products in New Mexico and the US. The license allows the companies to produce and distribute their products throughout the US, expanding beyond local distribution. Panaxia US will manufacture sublingual tablets, oral tablets, sublingual drops, and plans to expand to include inhalable products, ointments, and creams. The partnership between Panaxia US and Ultra Health has been successful in terms of product quality and regulatory compliance. This joint venture is focused on low-THC and high-CBD medicine and aims to innovate the cannabis industry globally.
Partners
growth-positive
BRIEF-Stenocare Signs Agreement With Panaxia
StenoCare has signed an agreement with Panaxia, a leading Israeli company, to source medical cannabis products for Denmark and the companys international markets. The partnership aims to extend to StenoCares international markets, which are currently being evaluated and prepared. The agreement is in pursuit of product approval for THC oil, mixed CBD+THC oil, and a CBD oil. The impact of the article on StenoCare is growth-positive.
Partners
growth-positive
Panaxia Announces Positive Top-Line Results From Its Clinical Trial In Leading Medical Cannabis Products
Panaxia Labs Israel announced positive results in its clinical trial evaluating bioavailability and safety of medical cannabis products. The trial successfully met its primary objectives and showed potential for a significant breakthrough compared to industry flagship products. The company plans to seek regulatory approval and market its products in Israel and Europe. The results indicate that Panaxias products have better characteristics and efficacy compared to Sativex. The company is considering conducting a larger clinical trial to achieve statistical significance. Panaxia is part of the pharmaceutical group of the Segal family and manufactures over 600 pharmaceutical products distributed in over 30 countries.
CustomersPartners
Growth-Positive
Herodium and Cannabis Company Panaxia Complete Merger
Tel Aviv-listed shelf company Herodium Investments Ltd. has completed its merger with Israel-based medical cannabis products manufacturer Panaxia Pharmaceutical Industries Ltd. The merger was made possible by a $4.25 million investment round in September. Panaxia ended the first half of 2019 with revenues of $1.63 million, up year-over-year, and a loss of $4.16 million.
InvestmentAcquired-by
growth-positive
Cannabis Company Panaxia Raises NIS 11.5 Million in Shelf Offering
Panaxia Pharmaceutical Industries Ltd., an Israel-based cannabis outfit, has raised NIS 11.5 million (approximately $3.25 million) in a shelf offering. The offering was done through a merger with Tel Aviv-listed shelf company Herodium. Herodium, with a market cap of NIS 54.3 million (approximately $15.4 million), issued 19.5% of its shares at NIS 4 (approximately $1.13) per share, representing a 9.8% premium over its share price. The company had intended to raise NIS 15 million (approximately $4.25 million).
Investment
growth-positive
Herodium raising NIS 17.5m ahead of Panaxia merger
Panaxia, a private cannabis products company, is moving towards a merger with Herodium Investments. Herodium is raising NIS 17.5 million in a share offering, with NIS 11.5 million raised through a shelf prospectus. The merger will result in a valuation of NIS 280 million for the merged company. The investors in the public offering include Murchinson Financial Services, Dana Aviv, and a company controlled by Amos Luzon. Real estate tycoon Eli Michel Ruimy is investing NIS 6 million separately. Panaxia, known for its expertise in cannabis processing, has reported a loss of NIS 14.5 million in the first half of the year, with NIS 10 million attributed to merger costs. The merger will provide Panaxia with the means to expand into the European market.
InvestmentAcquisition
growth-positive
Senior Wall Street investment banker joins Panaxia Pharmaceutical: Orit Freedman Weissman, former partner at Goldman Sachs New-York, has been appointed Director
Panaxia Pharmaceutical Industries, the largest pharmaceutical cannabis company in Israel, has appointed Orit Freedman Weissman, a senior Wall Street investment banker, as Director. Freedman Weissman brings extensive knowledge of global markets and is expected to assist Panaxia in becoming a leading company in the global pharmaceutical cannabis sector. The appointment is seen as a vote of confidence in Panaxias abilities and business potential. Panaxia manufactures and distributes over 600 different pharmaceutical products in over 30 countries. The companys cannabis division focuses on medical cannabis products, including tablets, oils, and inhalers, for various medical conditions. Panaxia employs around 90 employees.
Management Changes
growth-positive
Jonathan Kolber appointed Chairman of Panaxia Pharmaceutical
Panaxia Israel Pharmaceutical Industries has announced the appointment of Jonathan Kolber as Chairman of the merged company, Panaxia Israel-Herodium Investments. Kolber is a partner and senior consultant in the private equity fund Viola Growth. He has extensive experience in launching international investments and actively running public companies. The appointment is subject to approval by Herodium board of directors and compensation committee, and to completing the merger between Panaxia and Herodium Investments. Panaxia CEO and founder, Dr. Dadi Segal, sees Kolbers joining as a strategic step towards the companys growth as a global pharmaceutical company. Panaxia Israel manufactures medical cannabis treatments and distributes them in over 30 countries.
Management Changes
growth-positive
Barak Rosen, Luzon investing NIS 17.5m in Panaxia
Panaxia Israel, a cannabis company, will be merged into stock exchange shell Herodium through a NIS 17.5 million investment led by Barak Rosen. The investment group also includes Canadian fund Murchinson, Dana Aviv, and Eli Michel Ruimy. Herodium will raise NIS 4 million from Luzon Real Estate and Finance. The investment will allow Panaxia to complete preparations for exporting to Europe and continue expanding its business activity. The investment in Cannabit by Rosen and his partners is also mentioned, with a paper profit of 550% on their investment. The merger will give the merged company a value of NIS 290 million, which could increase to NIS 480 million if cannabis exports from Israel are approved.
AcquisitionInvestment
growth-positive
Cannabit to sell cannabis to Panaxia if it can
Cannabit has signed an agreement with Panaxia, a cannabis-processing plant in Israel, to supply six tonnes of raw material for export. Panaxia will buy the raw material and use it to produce cannabis oil for export to Europe. Cannabits revenue from the agreement is expected to reach NIS 30 million. The agreement is dependent on Cannabit obtaining the necessary permits. This agreement is significant for Panaxia as it secures raw material for export, which is currently in short supply in the Israeli cannabis market. The agreement also indicates that Cannabit is seen as a reliable supplier of raw material in the sector.
Partners
growth-positive
Panaxia, Rafa, PlantEXT to co-develop next-gen medical cannabis products
Panaxia Pharmaceutical Industries Israel has signed a collaboration agreement with PlantEXT Ltd., a medical cannabis company, to co-develop medical cannabis products for patients with Inflammatory Bowel Disease. The products will be delivered through medical cannabis suppositories, offering a targeted solution to decrease inflammation in the intestine. This collaboration aims to increase accessibility of medical cannabis treatment for eligible patients. Panaxia has previous experience with cannabis suppositories in the American market. The agreement is seen as a milestone in revolutionizing the accessibility of medical cannabis in Israel. The collaboration will utilize traditional pharmaceutical delivery systems, making it more accessible to a wider range of patients.
Partners
growth-positive
Revolutionizing Breakthrough for those suffering from chronic pain: a clinical research with medical cannabis sublingual tablets is currently on its way
Panaxia, in collaboration with Rafa, has started a clinical trial for registration at the Ministry of Health to make medical cannabis accessible through sublingual tablets. The trial aims to examine the bioavailability and safe consumption of the tablets. If successful, the registration of Panaxias medical cannabis products will revolutionize medical cannabis treatment. The tablets are particularly beneficial for patients suffering from chronic pain. Panaxia plans to launch the new products in Israel this year. The clinical trial will enable patients to receive medical cannabis treatment without smoking. The development of medical cannabis tablets will provide a precise and consistent adjustment of the treatment for patients.
Customers
growth-positive
Cannabis Outfit Recruits Israeli Nobel Laureate for Board
Israeli cannabis-based pharma company Panaxia has announced the appointment of Israeli biologist Aaron Ciechanover to its board. Ciechanover, a Nobel laureate, will join the company as it merges with Tel Aviv-listed shelf company Herodium. Panaxia develops cannabis-based pharmaceuticals and is a leading manufacturer and distributor of medical cannabis brands in Israel. Ciechanover initially hesitated to join a commercial venture but was convinced by Panaxias managements openness to his scientific input.
Management Changes
growth-positive
Israeli co Panaxia to set up 4 US cannabis factories
Israeli company Panaxia has signed a contract with Canadian Bioceutical Corporation to set up four more medical cannabis plants in the US. Panaxia will build and manage the factories, while Bioceutical will finance the project, provide the cannabis, and market the products in selected states. The new plants will be located in Arizona, Nevada, Maryland, and Massachusetts. Panaxia already operates a plant in New Mexico, which has been operating at full capacity and producing 10,000 units a month. The company plans to expand its operations in the US and is also set to launch a cannabis products factory in Israel. Panaxia aims to produce controlled products with a uniform composition for patients.
PartnersExpand
growth-positive
http://www.jpost.com/Business-and-Innovation/Health-and-Science/Israeli-New-Mexican-partners-open-first-US-pharmaceutical-cannabis-production-site-483072
Panaxia Pharmaceutical Industries Ltd. and Ultra Health have opened a pharmaceutical cannabis production lab in New Mexico. Panaxia is providing smokeless cannabinoid dosage and treatment protocols to produce medications for various illnesses. The lab will manufacture sublingual and oral tablets, suppositories, cannabis oil, pain relief patches, and topical creams. The products can be used to treat conditions like PTSD, chronic pain, cancer, epilepsy, and HIV/AIDS. The partnership between Panaxia and Ultra Health aims to provide better delivery systems for patients and physicians. Due to federal laws, Panaxia plans to establish small production facilities in each state. The construction of the New Mexico facility was completed in six months, and the partners are planning for their next facility in Nevada.
Partners
growth-positive
Israeli medical cannabis co to build New Mexico plant
Panaxia, an Israeli generic drugs and medical devices company, has signed an agreement with Ultra Health to build a cannabis processing plant in New Mexico. The six-month pilot project includes a commitment to buying merchandise for $250,000. Panaxia is also negotiating similar agreements with other US growers. The company has developed a method of extracting precise dosages of medical cannabis, which is seen as a growth-positive impact for the company. Panaxia is preparing for clinical trials of its cannabis products and views the current restrictions on conducting clinical trials in the US as an advantage.
PartnersCustomers
growth-positive
Ultra Health Announces Cannabis Joint Venture With Panaxia, An Israeli Pharmaceutical Company
Ultra Health, the largest medical cannabis operator in New Mexico, has announced a joint venture with Panaxia Ltd, a pharmaceutical company based in Israel. The two companies will be building a production facility to manufacture state-of-the-art smokeless cannabis products to treat a number of illnesses. The new products will provide better delivery systems for patients and physicians with regard to safety and dosage. The U.S. legal cannabis market is expected to grow by 25% in 2016 to $6.7 billion, and it is estimated that nearly one third of the market will likely be smokeless cannabis products. Ultra Health aims to provide superior-quality and affordable medical grade cannabis to New Mexico patients.
Partners
Panaxia Team
Employee Info
| Employees (range) | 51-200 |
| Exact count | 54 |
| Team members | 4 |
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Panaxia Internal
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Admin Info
| Confidence | 90/100 |
| Missing | markets, not claimed |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 514326206 |
| Crunchbase | panaxia-pharmaceutical-industries |
| Phone | +972722744144 |
| Creator | Fredrik Liljedahl |
| Creator email | fredrik.liljedahl@sncentral.org |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2022-11-04T00:00:00.000Z |
| Created | 2017-05-09T00:00:00.000Z |
| Status detail | Acquired by Barak Investment House on Mar, 2024 |