Panaxia Labs Israel Ltd. announced May 19, 2021, a binding agreement of manufacture, commercialization and distribution of medical cannabis finished products, developed by Panaxia for medical cannabis patients in Greece. Under the agreement, Panaxia will be responsible for registering the products, while complying with the European standard requirements, including EU-GMP; developing and manufacturing new and advanced products, including tablets, suppositories (candles) and inhalation products. Leriva, whose clients include physicians, hospitals and pharmacies, will market, sell, and distribute Panaxia's premium products under the Panaxir brand to patients, following a doctor's prescription for labeling prevention and treatment of nausea as a result of taking Anti-Neoplastic drugs; Neuropathic Pain and Cancerous Pain and Spasticity caused by Multiple Sclerosis. To the best of the companies' knowledge, up to this date, no medical cannabis product has received a marketing authorization in Greece, despite the fact that the Greek government has approved the regulation of the country's medical cannabis market in May 2017. Thus, Panaxia, which is the only Israeli company with a European Standard EU-GMP, is expected to be the first company, or among the pioneer companies, to register its products for marketing in Greece. Panaxia and Leriva anticipate first sales of Panaxir products in Greece during 2022, subject to the completion of the products' registration for marketing and distribution in Greece. This is in addition to the Panaxia's premium products export and marketing activities in Germany, France and Cyprus, which began earlier this year. The agreement will enter into force upon completion of the registration of the first product in Greece. Leriva Group, based in Athens, Greece, is a diversified health care enterprise, which manufactures, distributes and markets a vast range of health care products, equipment and services. The company is constituting of four legal entities and conducts operations through several business units. With an impressive array of business collaborations and alliances with both established and emerging companies, that are at the forefront of innovation with novel products and services, Leriva is active in numerous health care market segments and product categories in Greece, Cyprus and Albania. The company's customer roster includes public and private hospitals, outpatient diagnostic clinics and laboratories, industrial companies, research institutions, pharmaceutical wholesalers and pharmacies.