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    PNAX   IL0011043630

PANAXIA LABS ISRAEL LTD

(PNAX)
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Panaxia Labs Israel Ltd. and AxioNovo GmbH to Market Cannabis-Based Products in Germany

07/29/2021 | 08:03am EDT

Panaxia Labs Israel Ltd. and AxioNovo GmbH announced the signing of an agreement. The agreement, a part of Panaxia's collaboration with Neuraxpharm, is for the marketing, sale and distribution of a new series of medical cannabis products, with a unique formulation, designed and being used in Israel for oncology patients. These formulations will be distributed in Germany as pharmaceutical intermediates for magistral preparations. The agreement was signed for 5 years, during which Panaxia will be responsible for manufacturing the products under the European standard (EU-GMP), and their registration according to regulatory requirements in Germany. AxioNovo GmbH will be in charge of marketing, sale and distribution of medical cannabis-based products by Panaxia to cancer patients through direct purchase in pharmacies, following prescriptions from oncologists at cancer specialized clinics in Germany. These products are designed and currently being used in Israel for various medical indications, such as Cancer Pain, Loss of appetite and other side effects, related to Cancer treatments. The new series of products, under the brand Naxiva Panaxol Onko, is characterized by designated formulations and new extracts adapted for oncology patients in Israel. The products were developed based on extensive clinical data accumulated in Panaxia for over a decade and its comprehensive experience in treating cancer patients in Israel. First sales of the products in Germany are expected in the 3rd quarter of 2021, subject to obtaining a regulatory approval from the German authorities for marketing and distribution of the products. This collaboration is in addition to Panaxia's collaboration in Germany with Neuraxpharm in the field of traditional CNS, regarding marketing Panaxia's products to patients since early 2021.


ę S&P Capital IQ 2021
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Financials
Sales 2019 16,7 M 5,20 M 5,20 M
Net income 2019 -81,3 M -25,4 M -25,4 M
Net cash 2019 0,60 M 0,19 M 0,19 M
P/E ratio 2019 -2,85x
Yield 2019 -
Capitalization 207 M 64,4 M 64,5 M
EV / Sales 2018 -
EV / Sales 2019 2,77x
Nbr of Employees -
Free-Float 32,0%
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Managers and Directors
Dadi Segal Chief Executive Officer & Director
Gil Benyamini Chief Financial Officer
Jonathan B. Kolber Chairman
Eran Goldberg Chief Technology Officer
Tamar Hinenzon Meiri Vice President-Operations
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