Nabis Holdings contemplates joint venture with Panaxia Pharmaceutical

Nabis Holdings Inc., is apparently thinking of inking a joint venture (JV) with the Israel company Panaxia Pharmaceutical Industries, Ltd. Reportedly, the MOU signed between the two companies mandates Panaxia to offer proprietary pharma grade cannabis-based products, whose demand has soared in several other states in the U.S., including Colorado, New Mexico and California.

People with the knowledge of the matter believe that the products are expected to be produced in Arizona in the first operating EU GMP facility, situated in Nabis Camp Verde facility, under Nabis licenses. The production is said to be in a 44,000 square foot cultivation, fulfillment and production facility.

The onus of distribution, sales, and marketing via the established dispensary and wholesale channels that cater over 50% of Arizona dispensaries is on Nabis. In addition, the company will provide raw materials for the production, while the responsibilities for the quality, production and clinical affairs will lie on Panaxia.

Shay Shnet, CEO and Director at Nabis, expressed his delight in partnering with Panaxia to introduce a range of new, high quality, pharmaceutical grade products underpinned by EU GMP standards. Elaborating on the deal, Shnet stressed that the Joint Venture is in line with the vertically-integrated cannabis portfolio and they are ready to keep up with the evolving needs of patients by creating new innovative products to provide long-term value to shareholders and already established Arizona customer base of more than 36,000 patients.

Prominently, all products of the JV will be sold under the Panaxia brand (Nabis owns 50% in Arizona). The MOU will leverage both the companies to expand their JV in other states in the U.S.

About Nabis Holdings

Canada-based Nabis Holdings is an investment company that invests in strategic and high quality cash flowing assets across cannabis sector, especially in limited license states in the U.S.

About Panaxia

Panaxia Pharmaceutical Industries, Ltd. is apparently the first company to receive the nod from the Israel Ministry of Health to produce medical cannabis-based drugs. The company provides over 600 medical products across 30 international markets and does home-delivery distribution of medical cannabis products in Israel.

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https://finance.yahoo.com/news/nabis-holdings-inc-enter-joint-080010486.html