Panaxia was selected as a supplier in a pilot in France – the capital market

Medical Cannabis Company

Panaxia Israel
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It is reported to have been selected as one of the four main winners in the French Government’s pilot tender for the regulation of the medical cannabis industry. As part of the pilot, the company and its partner Neuraxpharm will provide patients with oily and cannabis-based tablets. In the company’s estimation, the scope of the expenses of participating in the pilot is negligible. The company’s share is up about 4.5% in trading against the background of the announcement.

The pilot, for which the participating companies will not receive compensation, is expected to begin in early March and continue for about two years, when it will include 3,000 patients, and as part of which 4 products of the company that met the ANSM quality standard will be provided. These will be given, among others, to patients with cancer, epilepsy, multiple sclerosis and incurable diseases, as well as to sufferers of pain who do not respond to conventional treatment. According to Panaxia, in France there are about 700,000 relevant patients who meet the criteria and may later be eligible for a prescription for medical cannabis treatment.

At the end of the pilot, a decision will be made by the French government regarding a permit for the use and sale of medical cannabis products and if it is indeed more, Panaxia, will apply for a regulatory marketing permit to the French authorities, for commercial marketing and product distribution. “In our view, the French market is expected to become one of the most advanced medical cannabis markets in the world, preventing significant growth for Panaxia,” he said. Dr. Dedi Segal, CEO of Panaxia.

Other winners as main suppliers alongside Panaxia are Canadian Tillrey and Aurora and Australian Little Green Pharma, three companies considered to be industry leaders. The French government also selected the Australian companies Althea and the British Emmac Life Sciences as pilot suppliers.

Panaxia is an exporter, manufacturer and operator of in-house distribution of medical cannabis products. The company holds the approval of the Ministry of Health for the production of medical cannabis-based drugs (GMP-IMC standard) and the European EU-GMP production standard from the European Health Authority. The company has about 30 medical cannabis-based pharmaceutical products.