Carlsquare advised Panaxia Pharmaceutical Industries, specializing in medical cannabis R&D and manufacturing, on entering a strategic partnership with Boiron, an independent French pharmaceutical laboratory, specialized in the manufacture of very high-quality homeopathic medicines with deep expertise and strong relationships with healthcare professionals across France.
Medical cannabis represents a major therapeutic advancement for thousands of patients. Since 2019, both companies have been actively involved in the French pilot program, enabling 3,000 patients to gain access to regulated medical cannabis treatments. Within this framework, Boiron has had the privilege of distributing medicines manufactured to the highest pharmaceutical standards by Panaxia.
The momentum within the European medical cannabis market is undeniable, given that 21 out of 27 European countries have already legislated in favor of medical cannabis, and France is expected to follow shortly.
This marks a milestone deal for Carlsquare within the medical cannabis space.
Panaxia Pharmaceutical Industries specialises in the development, manufacturing of medical cannabis products. With c. 15 years of R&D supporting product differentiation, all products are manufactured under strict pharmaceutical EU-GMP authorised production facility in Malta. It provides patients with advanced pharmaceutical delivery methods such as sublingual tablets, extracts for vaporization, and medical cannabis oils. With current distribution in France, Germany, Poland, CH, CZ, Malta and Cyprus Panaxia is uniquely positioned to expand in the European markets for medical cannabis.
Boiron is an independent family pharmaceutical laboratory, specializing in manufacturing very high-quality homeopathic medicines. Present in more than 50 countries (20 subsidiaries), and with more than 2,700 employees, Boiron develops health projects with rigor and passion. Boiron has been actively involved in the distribution of the medical cannabis treatments during the experimentation phase in France.
Panaxia entered a strategic partnership with Boiron, where Panaxia receives an investment of EUR 3.2m from Boiron, providing Boiron with a call option to purchase majority stake in Panaxia by 2029.
Carlsquare acted as the exclusive financial advisor to Panaxia Pharmaceutical Industries.
