Ultra Health forms cannabis joint venture with Israeli firm Panaxia

31-Mar-2016

Pharmaceutical grade cannabis products to be manufactured in New Mexico facility

Ultra Health, a New Mexico medical cannabis producer, has formed a joint venture with Panaxia, a pharmaceutical company based in Israel, to manufacture smokeless cannabis products at a planned US$1m facility in Bernalillo, which is expected to be in operation later this year.

Ultra Health's new line of medical grade cannabis products (available in 5mg and 10mg dosages, including packets of 30 tablets) will include tablets, rectal and vaginal suppositories, and oral spray inhalers.

The firms said the new smokeless cannabis products will provide better drug delivery for patients and doctors with regard to safety and dosage. They are expected to be beneficial for patients with chronic conditions requiring ongoing dosing such as post-traumatic stress disorder (PTSD), chronic pain, cancers, neuropathy pain, epilepsy, anorexia and HIV/AIDS.

The US legal cannabis market is expected to grow by 25% in 2016 to US$6.7bn. It is estimated that nearly one third of the market will likely be smokeless cannabis products.

We are happy to move forward into bringing smokeless, exact and reproducible dosing capabilities for medical cannabis products to the US market

Dr Dadi Segal, Business Development Manager at Panaxia said the firm is part of an organisation that has been active in the Israeli and global pharmaceutical industry for more than 40 years.

'Since we established Panaxia, in 2010, we constantly strive to bring the strictest protocols and most advanced technology available in the pharma industry to the production of our cannabis based products,' he said.

'At Panaxia, we believe that medical cannabis products should be developed and manufactured under the highest standards and quality assurance levels like any other pharmaceutical product.

'We are happy to move forward into bringing smokeless, exact and reproducible dosing capabilities for medical cannabis products to the US market.'

Ultra Health is a turnkey solutions provider for the speciality healthcare cannabis industry, with operations and facilities in Arizona, New Mexico and Nevada. The firm has partnerships with a broad spectrum of businesses and Tribal Nations to design, formulate and manage cannabis-related economic development opportunities that are profitable, scalable and mutually beneficial.

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Panaxia is a research and development company as well as a manufacturer of medical devices and pharmaceuticals.

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