Panaxia announces production license of medical cannabis products in Malta

Following the adaptation of the European production standard EU-GMP, Panaxia will start production in a facility in Malta

Dr Dadi Segal, CEO of Panaxia
Dr Dadi Segal, CEO of Panaxia

Medical cannabis pharma company Panaxia Global has received an official license from the health authorities in Malta to manufacture finished medical cannabis products.

Production in Malta, following the adaptation of the EU-GMP standard for the facility in January by the European Health Authority, will allow immediate export from Malta of medical cannabis products.

Malta Enterprise assisted Panaxia in the stages of its establishment in Malta.

Obtaining this license alongside the recently adopted EU-GMP standard will allow Panaxia to produce medical cannabis-based products at a facility in Malta.

The largest and most immediate new markets to which the company is targeting are the British market and the Brazilian market. These exports currently cannot be made from Israel to those countries, in light of the regulations in Israel, which do not allow the registration of such advanced products in Israel.

The UK is one of the most promising markets in Europe, a significant market estimated today with around 1.4 million patients who can have access to medical cannabis.

Panaxia is the first and only company that exports and markets inhaled medical cannabis extracts in Germany in particular, and in Europe in general. The company's premium oils are also regularly marketed in Germany and Cyprus.

Dr Dadi Segal, CEO of Panaxia said: “Obtaining the license will allow us to export from the facility in Malta our advanced medical cannabis products, such as the tablets and extracts for inhalation, and market them in various European countries. We are excited to have reached this long-awaited moment as well as the fact that we will now be able to have our products accessible to many more patients all over Europe.”

Kurt Farrugia, CEO of Malta Enterprise said Panaxia is one of the first companies to obtain a letter of intent from Malta Enterprise. “Together we embarked on a steep learning curve that saw us reaching this very important moment for Panaxia. Through such accomplishments, Malta is confirming its emergence as a hub for manufacturing and research in the cannabis eco-system. We are very proud to be part of Panaxia’s journey and look forward to seeing the company grows and thrives locally.”