Panaxia
Panaxia is an Israeli pharmaceutical company focused on medical-cannabis products manufactured to pharmaceutical standards.
Last updated November 4, 2026
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Overview
Panaxia Pharmaceutical Industries, also referred to as Panaxia Global, is an Israel-based medical-cannabis company headquartered in Lod. It develops, manufactures, and markets cannabis-derived medicines and pharmaceutical preparations rather than positioning cannabis primarily as a consumer lifestyle product. Its stated focus has been on standardized formulations, controlled dosing, clinical evaluation, regulatory compliance, and international distribution. The business began in 2010 as the cannabis division of the Segal Pharma Group, a group with interests in pharmaceutical and medical-device activities. Panaxia initially concentrated on research and development in medical cannabis. In 2016, after the Israeli government announced a framework for the medicalization of cannabis products, Panaxia Pharmaceutical Industries was established as a separate company controlled by the Segal Group. Its founding team included Dr. Dadi Segal, Dr. Eran Goldberg, and Adv. Assi Rotbart. A production facility and the Israeli operating subsidiary were subsequently established in Lod. Panaxia’s products have included cannabis oils, tablets, suppositories, and inhaled preparations. The company has pursued dosage forms intended to provide more consistent administration than raw cannabis flower or smoking. Its research program included registration-oriented studies of sublingual tablets and metered-dose inhalers, as well as clinical work examining the absorption and safety of several formulations. The company reported in 2019 that its studies showed favorable absorption and safety results for tablets, suppositories, and inhaled extracts, and that its sublingual tablets had higher absorption and lower variability than Sativex in the comparison described in its public materials. Commercial development accelerated through partnerships. In 2018, Panaxia cooperated with Rafa Laboratories, an Israeli pharmaceutical company, to manufacture cannabis oils for Rafa under the Axiban brand. Panaxia also began distributing medical-cannabis products through Israeli pharmacies that year. In November 2018, the company was listed in connection with the Tel Aviv Stock Exchange and signed a memorandum concerning the merger of its Israeli operations into Herodium Investments. The available reference material does not establish that Panaxia itself became a separately listed issuer. International expansion became central to the company’s strategy. In June 2020, Panaxia announced that its Israeli operation had received EU Good Manufacturing Practice certification from an EU health authority. The certification was presented as enabling commercial production and export of medical-cannabis products for European markets. In July of the same year, Panaxia entered a partnership with Neuraxpharm to produce, market, and distribute cannabis-based medicines in Germany. Products developed under that relationship included the NAXIVA-PANAXOL brand in Germany and the NAXIVA-PANAXIR brand associated with the French medical-cannabis program. Panaxia reported its first commercial shipment to Australia in November 2020 with Seach Medical and its first commercial shipment to Germany in December 2020. In February 2021, it began initial retail sales to German patients and described itself as the first Israeli company to sell medical-cannabis products in Europe. The same month, it was selected by Cyprus to supply medical-cannabis products marketed under the PANAXIR name. In January 2021, Panaxia was selected as one of four principal winners in a French government tender for the country’s regulated medical-cannabis program, alongside Tilray and Aurora, with Neuraxpharm as its partner. The company also operates through international subsidiaries and partnerships. Panaxia USA was founded in 2016 and established a cannabis-pharmaceutical facility in Bernalillo County, New Mexico, producing smokeless medicines and related preparations. Ultra Health was identified as the distributor for products manufactured at that facility. By September 2021, Panaxia said it was shifting emphasis toward exports to Europe rather than prioritizing the domestic Israeli market. Its business therefore combines pharmaceutical manufacturing, product development, regulatory submissions, contract or partner manufacturing, and sales through national medical-cannabis systems.
History
Panaxia originated in 2010 as the medical-cannabis division of the Segal Pharma Group. The group operated in pharmaceutical and medical-device fields, and the new division began research and development into medical-cannabis products. In 2016, following the Israeli government’s announcement of a framework for the medicalization of cannabis products, Panaxia Pharmaceutical Industries was formed as a separate company under Segal Group control. Dr. Dadi Segal, Dr. Eran Goldberg, and Adv. Assi Rotbart are identified as its founders. Panaxia Israel was established in 2017 alongside the company’s first medical-cannabis manufacturing facility in Lod. The business pursued pharmaceutical formulations intended to offer more controlled administration than unprocessed cannabis. In 2018, Panaxia began working with Rafa Laboratories and manufactured cannabis oils for Rafa under the Axiban brand. It also started distributing medical-cannabis products to pharmacies in Israel. In November 2018, Panaxia was listed in connection with the Tel Aviv Stock Exchange and signed a memorandum concerning the combination of its Israeli activities with Herodium Investments. The reference material does not clarify the final corporate status of that transaction. Research and registration work expanded in 2019. Panaxia announced studies of sublingual cannabis tablets and metered-dose inhalers for submission to the Israeli Ministry of Health. The tablet study examined bioavailability and safety, while the inhaler program was intended to provide a measured dose of cannabis extract whose active-ingredient concentration was controlled through pharmaceutical production. Later in 2019, the company reported favorable results for the absorption and safety of tablets, suppositories, and inhaled extracts. It also reported that its sublingual tablets compared favorably with Sativex on absorption rate and variability. In June 2020, Panaxia announced EU GMP certification for its Israeli operation. The certification was important because EU pharmaceutical markets require compliant manufacturing for commercial production and exports. In July, Panaxia entered a partnership with Neuraxpharm covering the production, marketing, and distribution of cannabis-based medicines in Germany. Panaxia then reported its first commercial shipment to Australia in November 2020 with Seach Medical and its first German shipment in December 2020. The German products were associated with the NAXIVA-PANAXOL joint brand. The company’s European program broadened in 2021. In January, Panaxia was selected as one of four main winners in a French government medical-cannabis tender, alongside Tilray and Aurora. It planned to supply oils and tablets under the NAXIVA-PANAXIR brand with Neuraxpharm. In February, Panaxia reported initial retail sales to German patients and described this as the first sale of its products by an Israeli company in the European cannabis market. Cyprus also selected the company to provide products under the PANAXIR brand. Panaxia USA, founded in 2016, established a facility in Bernalillo County, New Mexico, for smokeless cannabis medicines and preparations. Ultra Health was identified as the distributor for the New Mexico operation. By September 2021, Panaxia said that it intended to focus more heavily on exports to Europe and less on the domestic Israeli market. Panaxia is also described as the controlling shareholder of Panaxia Labs Israel Ltd., a company traded on the Tel Aviv Stock Exchange. The available material does not provide sufficient information to determine later ownership, management, financial performance, or current product availability.
- 2021
French tender and European retail expansion
[1]Panaxia was selected for France’s medical-cannabis tender, began initial German retail sales, and was selected to supply Cyprus.
- 2021
Export-focused strategy announced
[1]Panaxia said it would prioritize exports to Europe over its domestic Israeli market.
- 2020
EU GMP certification announced
[1]Panaxia announced EU GMP certification for its Israeli operation, supporting European production and export activity.
- 2020
German partnership and shipments
[1]Panaxia partnered with Neuraxpharm and reported commercial shipments to Germany and Australia.
- 2019
Registration-oriented formulation trials announced
[1]The company announced studies of sublingual medical-cannabis tablets and metered-dose inhalers.
- 2018
Rafa Laboratories cooperation begins
[1]Panaxia began manufacturing cannabis oils for Rafa Laboratories under the Axiban brand and expanded pharmacy distribution in Israel.
- 2018
Tel Aviv Stock Exchange transaction announced
[1]Panaxia was listed in connection with the Tel Aviv Stock Exchange and signed a memorandum concerning the merger of its Israeli activity into Herodium Investments.
- 2017
Israeli subsidiary and Lod facility established
[1]Panaxia Israel was founded and associated with the company’s first medical-cannabis manufacturing facility in Lod.
- 2016
Panaxia established as a separate company
[1]Panaxia Pharmaceutical Industries was founded as a separate Segal Group-controlled company after Israel announced its medical-cannabis framework.
- 2010
Medical-cannabis division established
[1]Panaxia began as the cannabis division of the Segal Pharma Group and started research and development in medical cannabis.
Products and positioning
Pharmaceutical-grade medical cannabis centered on standardized dosing, clinically evaluated delivery formats, regulatory compliance, and export-oriented manufacturing.
Medical cannabis · 2018
Medical cannabis oils and extracts
Panaxia develops and manufactures cannabis oils and extracts for medical use. The company’s pharmaceutical approach emphasizes controlled concentrations and reproducible dosing. Its cooperation with Rafa Laboratories included production of cannabis oils marketed under the Axiban brand, while later European programs used Panaxia-related brands such as PANAXIR and NAXIVA-PANAXIR.
Medical cannabis delivery system · 2019
Sublingual medical-cannabis tablets
These tablets were developed as a measured, smokeless method of administering medical cannabis. Panaxia announced a registration-oriented study in Israel to evaluate their bioavailability and safety. The company later reported favorable absorption results and described the tablets as having higher absorption and lower variability than Sativex in the comparison reported in its materials.
Medical cannabis delivery system · 2019
Metered-dose inhaled cannabis extract
Panaxia’s inhalation system used a vaporizer and a measured cannabis extract rather than relying on variable cannabis flower. The company presented the format as a way to deliver a more precise and repeatable quantity of active ingredients. A registration-oriented clinical trial was announced in 2019, with later company-reported data addressing absorption and safety.
Branded medical cannabis products · 2020
NAXIVA-PANAXOL
NAXIVA-PANAXOL was the joint brand associated with Panaxia and Neuraxpharm for the German market. The product series was included in Panaxia’s first reported commercial shipment to Germany in December 2020 and formed part of the companies’ effort to introduce pharmaceutical cannabis products through European medical channels.
Branded medical cannabis products · 2021
NAXIVA-PANAXIR
NAXIVA-PANAXIR was associated with Panaxia and Neuraxpharm in the French government medical-cannabis program. The planned supply included oils and tablets for participating patients. The brand illustrates Panaxia’s strategy of entering national regulated markets through pharmaceutical partners and public tenders.
Branded medical cannabis products · 2021
PANAXIR
PANAXIR was the brand identified for Panaxia medical-cannabis products supplied to Cyprus. The company was selected by the Cypriot government in February 2021 to provide products for patients, although the available reference material does not specify the full product range or subsequent commercial performance.
Brand decisions
2021
Shift toward European exportsStrategyBackground
Panaxia had begun building commercial relationships and regulatory access in European medical-cannabis markets.
Action taken
The company announced that it would focus primarily on exporting cannabis products to Europe instead of concentrating on Israel’s domestic market.
Aftermath
The stated strategy increased the importance of European partners, national tenders, and regulated patient channels to Panaxia’s commercial model.
2020
EU-compliant export platformStrategyBackground
European medical-cannabis markets require pharmaceutical manufacturing standards and regulatory compliance.
Action taken
Panaxia pursued and announced EU GMP certification for its Israeli operation, then used partnerships to enter Germany and other European markets.
Aftermath
The certification was followed by reported commercial shipments to Germany and expansion discussions or programs in France, Cyprus, and other markets.
2018
Memorandum concerning Herodium InvestmentsM&ABackground
Panaxia sought a corporate structure connected with the Tel Aviv Stock Exchange as its Israeli medical-cannabis activity expanded.
Action taken
The company signed a memorandum to merge its Israeli activity into the publicly traded company Herodium Investments.
Aftermath
The available reference does not establish the final terms or completion status of the proposed transaction.
Recent events
Reported
IM Cannabis announces acquisition of Panaxia retail and online pharmacy activities[2]
IM Cannabis announced that its Israeli subsidiary and Panaxia entities had signed a definitive agreement for IMC to acquire Panaxia's trading house and in-house pharmacy activities, including its online pharmacy business, customer service center, certain distribution assets, and an option to purchase a pharmacy.
Sources2 sources
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