A first-of-its-kind permit to export cannabis oil from the US to Israel was granted to Panaxia and its partner Ultra Health
Ryan Allway
March 26th, 2020
News
Panaxia Israel has just imported from the US hemp extracts from which it will manufacture CBD-rich cannabis products
Essence extraction was conducted in a facility jointly operated by Panaxia and Ultra Health located in New Mexico, US
Dr. Dadi Segal, Panaxia CEO: “We are pleased to be able to extend care to our patients in Israeli who are in acute need of this service, among whom is a large group of children diagnosed with epilepsy or the autistic spectrum”
TEL AVIV, Israel and ALBUQUERQUE, N.M., March 23, 2020 /PRNewswire/ — Panaxia (TelAviv: PNAX), the largest manufacturer and distributor of pharmaceutical cannabis products in Israel, and its partner Ultra Health have announced the arrival in Israel of the first shipment of hemp extract, having been awarded a first-of-its-kind permit to export cannabis oil from the US to Israel.
This unique license was granted to the companies in light of their recent qualification to manufacture and distribute at their joint New Mexico (Bernalillo) facility, including hemp extracts of particularly low (<0.3%) THC concentrations. The companies have recently been licensed to manufacture products at the New Mexico facility and distribute them throughout the US. The facility was designed by Panaxia US and is operated by it while Ultra Health supplies raw materials and distributes the products. Manufacturing had begun this month, and the extracts delivered to Israel will be used in the manufacture of CBD-rich medicinal cannabis products under the premium brand of Axiban.
Panaxia aims to produce within a short period of time an inventory large enough to satisfy several months of demand of all Israeli patients requiring this care. The products are designated for the Israeli market only and may not be distributed outside of Israel. Panaxia’s CBD-rich oil is targeted at specific group of patients that require a miniscule dose of THC (categories C20, C24) among whom is a large group of children suffering from epilepsy or autism spectrum disorder (ASD).
Dr. Dadi Segal, Panaxia CEO: “We are pleased to be able to extend care to our patients in Israeli who are in acute need of this kind of medicinal cannabis care. Panaxia’s superb R&D capabilities combined with the added value of a high-quality strategic company such as Ultra Health prove themselves time and again, especially with regard to the high quality of the products and stringent regulatory compliance.”
Duke Rodriguez, President and CEO of Ultra Health
We are grateful to the New Mexico Environment Department and the New Mexico Department of Agriculture, who had a key role in making all of this happen,” said Duke Rodriguez, CEO, and President of Ultra Health®. “Based upon the success of this historical export and import, today we have agreed to buy 1,000 pounds more of New Mexico-produced hemp to begin expanding production further.
About Ultra Health
Ultra Health is New Mexico’s #1 Cannabis Company and the largest vertically integrated medical cannabis provider in the United States. The provider currently operates 20 dispensary locations statewide, with another 10 stores slated to open by the second quarter of 2020. Ultra Health provides unparalleled medical cannabis care by producing accurately dosed, smokeless cannabis products such as sublingual tablets, oils, pastilles, suppositories and more through its partnership with Israeli pharmaceutical group Panaxia. Ultra Health has been at the forefront of patient-rights issues and continues to fight for adequate supply and rural access in the New Mexico medical cannabis market.
About Panaxia Israel
Panaxia Israel (www.panaxia.co.il) is part of the pharmaceutical group of the Segal family, operating for over four decades, and manufacturing over 600 different pharmaceutical products, which it distributes in over 30 countries. Panaxia was founded by Dr. Dadi Segal, Dr.Eran Goldberg and Assi Rotbart, LL.b, and constitutes the Group’s cannabis division. In addition, the sister-division of North America manufactures over 60 pharmaceutical products based on medical cannabis, including sublingual tablets, oral tablets, oils, inhalers, and more, intended to treat conditions such as post-traumatic stress, cancer, chronic pains, epilepsy, anorexia, burns, and many other medical conditions. Panaxia employs around 90 employees and all clinical experiments are conducted by the company.
For further info: Email – robyn@panaxiapharmaceutical.com/ Tel (305) 933-4646
SOURCE Panaxia Pharmaceutical Industries
Related Links
View original content to download multimedia:http://www.prnewswire.com/news-releases/a-first-of-its-kind-permit-to-export-cannabis-oil-from-the-us-to-israel-was-granted-to-panaxia-and-its-partner-ultra-health-301027620.html
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Tim has over 22 years of investment experience as a portfolio manager, asset allocator, and capital markets professional across multiple asset classes, geographies, and platforms. Tim has built and operated two hedge funds, a broker dealer, and raised over $1Bn in capital for his combined businesses. Tim remains a recognized voice within the investment community […]
Alan Brochstein’s 420 Investor is the go-to community for investors to learn, explore, and profit from the marijuana companies. The main goal of 420 Investor is to provide real-time, objective information about the top marijuana companies in the market in order to help investors capitalize on cannabis.
NanoSphere Health Sciences is a biotechnology company that has developed and is commercializing its patent-pending NanoSphere Delivery SystemTM, a ground breaking platform using nanotechnology for the delivery of biological agents such as cannabinoids, supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond.
EuroMed Therapeutics is building the ninth Israeli licensed producer to capitalize on the domestic medical marijuana market and Europe’s nascent export market — worth upwards of $66 billion.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
