What Panaxia Pharmaceutical Industries does

Panaxia Pharmaceutical Industries is an Israeli pharmaceutical company specializing in the development, manufacture, and commercialization of pharmaceutical-grade medical cannabis products. Founded in 2010 as the cannabis division of the Segal Pharma Group, the company operates under dual EU-GMP and Israeli IMC-GMP certifications, an arrangement that has made it the first and only Israeli producer cleared to commercially export medical cannabis to Europe. Its product portfolio spans multiple smokeless delivery systems including oral and sublingual tablets, sublingual drops, oils, pastilles, rectal and vaginal suppositories, topical creams, transdermal patches, and standardized inhalation extracts, marketed under the Panaxol, Panaxir, CANNDOC, Tikva, Ultra Health, and SALUS brands.

The company's business model is a B2B pharmaceutical structure that combines direct sales to pharmacies in Israel with partnership-based distribution across Europe, anchored by a flagship relationship with Neuraxpharm covering Germany, the Czech Republic, and Switzerland under the Naxiva-Panaxol joint brand. Revenue is also generated through direct government procurement contracts (Cyprus, French ANSM pilot serving 3,000 patients) and a network of regional distributors (STENOCARE in Denmark, Leriva in Greece, Seach Medical in Australia). The company operates manufacturing facilities in Lod, Israel and Hal Far, Malta, both holding EU-GMP certification, which positions it as a dual-source European supplier. Following the 2021 divestiture of its Israeli pharmacy to IMC, Panaxia has refocused on export-led growth, supported by clinical partnerships with major medical centers and an advisory committee that includes Nobel laureate Prof. Aaron Ciechanover.

Name

Panaxia Pharmaceutical Industries

Legal name

Panaxia Pharmaceutical Industries

Website

https://panaxia.co.il

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Panaxia Pharmaceutical Industries is an Israeli EU-GMP-certified pharmaceutical manufacturer of medical cannabis products, exporting smokeless delivery systems (tablets, oils, suppositories, inhalers) to Israel and Europe through distributor and government channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Lod

HQ country

Israel

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Medical Cannabis Product Sales: Sale of pharmaceutical-grade medical cannabis products including tablets, suppositories, oils, extracts in Israel and international markets
2. Export Revenue: Initial revenues from medical cannabis oils export from Israel beginning Q4 2020; exports to Germany, Cyprus, France

Go-to-market motion2 records

Distribution channels5 records

Marketing channels3 records

Core offering

Panaxia Pharmaceutical Industries manufactures pharmaceutical-grade medical cannabis products under EU-GMP and IMC-GMP certifications. The company develops and produces a portfolio of smokeless cannabis delivery formats including sublingual tablets, oral tablets, sublingual drops, pastilles, suppositories, topical creams, transdermal patches, and purified inhalation extracts marketed under the Panaxol, CANNDOC, TikvaCBD, Ultra Health, and SALUS brands. Products are sold to pharmacies, government health programs, and pharmaceutical distribution partners across Israel, Germany, France, Cyprus, Czech Republic, Switzerland, and other European markets.

Product overview

Panaxia Pharmaceutical Industries is a pharmaceutical cannabis company that develops, manufactures, and markets advanced medical cannabis products of pharmaceutical quality under multiple brands including Panaxol, CANNDOC, Tikva, Ultra Health, and SALUS. The company offers a diverse portfolio of smokeless cannabis delivery systems including oral tablets, sublingual tablets and drops, medical oils, concentrates, pastilles, suppositories (rectal and vaginal), topical creams, pain relief patches, and inhalation extracts. Panaxia's products are designed for chronic patients who cannot or prefer not to use medical cannabis via smoking, offering pharmaceutical-grade consistency and standardization. The company operates under EU-GMP and Israeli IMC-GMP certifications and serves patients in Israel, Germany, France, Cyprus, Czech Republic, Switzerland, and other European markets through strategic distribution partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• Panaxir: Premium medical cannabis oils brand marketed in Europe
• Naxiva
• Panaxol
• Tikva
• CANNDOC
• Ultra Health

Products and services

• Panaxol Medical Cannabis Product Line

Quantifiable outcome

• Sublingual tablets have better absorption rate and lower variance than industry gold standard Sativex
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, flagship and minor.

• BoironcoreStrategic or Co-development Partner · 16 April 2026Strategic partnership with French pharmaceutical homeopathic company specializing in homeopathic medicines. Boiron invested EUR 3.2 million and received call option to acquire majority stake by 2029. Both companies active in France's medical cannabis pilot program since 2019. Partnership enables access to French market and regulatory expertise.
• NeuraxpharmflagshipChannel Partner/ Reseller/ Distributor · 6 October 2022Strategic distribution partnership covering Germany, Czech Republic, and Switzerland markets. Panaxia manufactures products under EU-GMP while Neuraxpharm handles marketing, distribution, and commercialization. Joint branded products under Naxiva-Panaxol trademark. Expansion from initial Germany partnership to broader European coverage including Czech Republic and Switzerland. Neuraxpharm established dedicated medical cannabis business unit with sales force in Germany.
• Malta EnterprisecoreOthers · 19 May 2022Malta's economic development agency assisted and accompanied Panaxia through establishment stages in Malta until production license was obtained. Partnership enabled Panaxia to become one of first companies to obtain LOI from Malta Enterprise for medical cannabis sector operations.
• AxioNovo GmbHminorChannel Partner/ Reseller/ Distributor · 29 July 2021Marketing partnership for cannabis-based products in Germany alongside Neuraxpharm distribution.
• LerivaminorChannel Partner/ Reseller/ Distributor · 19 May 2021Exclusive collaboration for distribution of medical cannabis-based products in Greece following successful launches in Germany, France, and Cyprus.
• Seach Medical GroupminorChannel Partner/ Reseller/ Distributor · 19 November 2020Partnership for Australia's first commercial medical cannabis export from Israel. Seach Medical Group is one of Israel's largest medical cannabis manufacturers. Panaxia provides EU-GMP processing for export to Australia.
• Ultra HealthminorChannel Partner/ Reseller/ Distributor · 17 March 2020US partnership for hemp-based products with distribution and manufacturing license in New Mexico. First-of-its-kind license to manufacture and distribute products throughout the US. Panaxia US and partner Ultra Health received distribution and manufacturing license after passing NMED audit.
• STENOCAREminorChannel Partner/ Reseller/ Distributor · 12 March 2020Distribution agreement for Danish market. STENOCARE is largest distributor of medical cannabis stock in Denmark. First distribution agreement for Israeli medical cannabis products in Danish market.
• Ocean Grown VenturesminorChannel Partner/ Reseller/ Distributor · 4 December 2019US market partnership granting rights to produce and distribute Panaxia's proprietary THC formulations across California. Also global distribution rights for hemp-based CBD formulations. Ocean Grown Ventures operates following good manufacturing practices with precise scientific standards.
• PlantEXT Ltd.minorStrategic or Co-development Partner · 1 May 2019Joint development of first medical cannabis suppositories for inflammatory bowel disease (IBD/Crohn's/colitis). Israeli-Canadian medical cannabis company. Suppositories contain proprietary composition of precise cannabis active ingredients targeting intestinal inflammation.
• Rafa PharmaceuticalscoreStrategic or Co-development Partner · 4 March 2019Co-development partnership for medical cannabis products including clinical research on metered-dose inhaler delivery. Rafa is Israeli pharmaceutical company. Collaboration for cannabis concentrates for inhalation targeting cancer patients. Products marketed under Rafa's medical cannabis brand.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Canopy Growth Corporation: One of the largest Canadian cannabis companies with significant European medical cannabis presence through Spectrum Therapeutics. Competes with Panaxia in the broader medical cannabis category with greater scale but broader portfolio focus.
• GW Pharmaceuticals (Jazz Pharmaceuticals): GW Pharmaceuticals, acquired by Jazz Pharmaceuticals, developed Sativex (the industry gold standard for medical cannabis sublingual spray referenced by Panaxia). A leading pharmaceutical-grade cannabis company that established the benchmark Panaxia competes against in clinical credibility and physician adoption.

Direct peers

• Little Green Pharma: Australian medical cannabis manufacturer and the fourth winner in the French government pilot alongside Panaxia. Comparable as a smaller, focused medical cannabis producer competing for European market entry via pharmaceutical-grade products and government tenders.
• STENOCARE: Denmark's largest medical cannabis distributor and Panaxia's distribution partner for the Danish market. Comparable as a European-focused medical cannabis company operating in the same regulatory framework and serving similar patient populations.
• Aurora Cannabis: Aurora is another Canadian cannabis major selected alongside Panaxia in the French government pilot. Both companies target European medical cannabis markets with EU-GMP certified products and compete for the same pharmacy and government procurement channels.
• Rafa Pharmaceuticals: Israeli pharmaceutical company and Panaxia's co-development partner for medical cannabis products including the metered-dose inhaler for cancer patients. Comparable as an Israeli pharma company operating in the medical cannabis space with similar regulatory positioning.
• Tilray Brands: Tilray is a major Canadian cannabis company also selected as one of four winners in the French government medical cannabis pilot program alongside Panaxia. Both companies compete directly for European medical cannabis tenders and pharmacy distribution contracts with pharmaceutical-grade products.

Others

• Neuraxpharm: European specialty pharmaceutical company and Panaxia's flagship distribution partner for Germany, Czech Republic, and Switzerland. Comparable as a CNS-focused pharma company that markets medical cannabis in Europe, providing a channel for Panaxia's products rather than competing directly.
• Boiron: French pharmaceutical homeopathic company that invested in Panaxia and holds a call option to acquire majority stake by 2029. Strategic partner providing French market access and regulatory expertise rather than a direct competitor.

Regional players

• Schweizerische Medikamente AG (Medropharm): European medical cannabis producer serving Germany and Switzerland with EU-GMP certified products. Comparable as a competing European medical cannabis manufacturer targeting the same pharmacy channels in German-speaking markets where Panaxia also operates.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/panaxia-pharmaceutical-industries-ltd.

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panaxia Pharmaceutical Industries