Issue link: https://maltatoday.uberflip.com/i/1468438
maltatoday | SUNDAY • 22 MAY 2022 13 COMMERCIAL Panaxia announces production license of medical cannabis products in Malta FOLLOWING the adaptation of the European production standard EU-GMP, Panaxia will start production in the lo- cal facilit y in Malta. Obtaining the license allows immediate start of export and marketing of finished medical cannabis products in Europe- an standard from Malta. The immediate largest markets are Germany, Poland, UK and Brazil. Dr. Dadi Segal, CEO of Panaxia: "Obtaining the li- cense will allow us to export from the facility in Malta our advanced medical cannabis products, such as the tablets and extracts for inhalation, and market them in various European countries. We are excited to have reached this long-awaited moment as well as the fact that we will now be able to have our products ac- cessible to many more patients all over Europe". Kurt Farrugia, CEO of Malta Enterprise: "Panaxia is one of the first companies to obtain an LOI from Malta Enterprise, in order to be able to operate in the Medical Cannabis Sec- tor. Together we embarked on a steep learning curve that saw us reaching this very im- portant moment for Panaxia. Through such accomplish- ments, Malta is confirming its emergence as a hub for manufacturing and research in the Cannabis eco-system. We are very proud to be part of Panaxia's journey and look forward to seeing the company grows and thrives locally". Panaxia Global, the con- trolling owner of Panaxia Malta (operations) Ltd., a global pharma company that develops, manufactures and markets advanced medical cannabis products of pharma- ceutical quality, announced today that it has received an official license from the health authorities in Malta to manu- facture finished medical can- nabis products. Production in Malta, follow- ing the adaptation of the EU- GMP standard for the facility in January by the European Health Authority, will allow immediate export from Malta and marketing of the compa- ny's finished medical cannabis products in accordance with the standards accepted by the European Authorities for the production of medical canna- bis products. Malta Economic Develop- ment Agency, Malta Enter- prise, assisted and accom- panied Panaxia in the stages of its establishment in Malta until the long-awaited license was obtained. Obtaining this license along- side the recently adopted EU-GMP standard will allow Panaxia to produce medical cannabis-based products at a facility in Malta, which for marketing to certain countries in the world requires regis- tration of the final product in the country of origin as well. Thus, the facility in Malta will allow the export of products also to countries that require registration of the advanced products (e.g., tablets and inhalation products) in the country of origin as a finished products. The largest and most immediate new markets to which the company is tar- geting are the British market and the Brazilian market. These exports currently can- not be made from Israel to those countries, in light of the regulations in Israel, which do not allow the registration of such advanced products in Israel. Thus, the advanced products have been submitted for reg- istration in Malta and will be exported from Malta to the destination countries requir- ing registration in the country of origin. Dr. Dadi Segal, CEO of Panaxia (PRNewsfoto/Panaxia Pharmaceutical Industries) Atlas Insurance opens new branch in Naxxar ATLAS Insurance has opened a new branch in St George's Street, Naxxar, from which Tea- mAtlas will offer the company's full range of products and ser- vices including motor, home, travel, and business insurance. The Naxxar branch was official- ly opened on 2 May 2022 and is located in a prominent area, within close proximity to Naxx- ar's Parish Church and Tal-Balal Road. Keith Tanti, Chief Officer - Personal Insurance Opera- tions, said: "Atlas Insurance is growing its branch network in line with its commitment of being a leader in customer experience when it comes to insurance services. This new branch offers the facility of on-the-spot vehicle damage in- spections following an accident and therefore will also serve as a surveying hub. We have al- so enhanced our digital pres- ence to allow clients to manage their insurance needs online, through our live chat or phone service. No matter our clients' needs, we are here to help." Atlas Insurance also has branches in Ta' Xbiex, Birkir- kara, Cospicua, Mosta, Paola, Rabat, San Gwann, Skyparks in Luqa, St. Paul's Bay and Ħaż-Żebbuġ. A social gath- ering was also organized to commemorate the opening of Atlas' eleventh branch in Mal- ta, during which TeamAtlas welcomed Anne Marie Muscat Fenech Adami, Naxxar May- or and Fr David Gauci, Parish Priest, to the branch. "We look forward to welcom- ing new customers from the Naxxar community and near- by areas to our latest branch as well as existing clients who will find it more convenient to re- ceive our services from this lo- cation," said Julian Somerville, Senior Associate - Personal In- surance, who mans the Naxxar branch. "Together with my colleages at TeamAtlas, we are commit- ted to remain close to our cus- tomers and ensure that manag- ing their insurance needs is a simple, easy and pleasant expe- rience," he said. The new Naxxar branch is open Monday to Friday be- tween 8:30 am and 1:00 pm and from 3:30 pm to 6:15 pm, as well as every last Saturday of the month between 8:30am and 1:00 pm. For enquiries, customers are kindly asked to contact Tea- mAtlas on 2343 5800 or send an email at naxxar@atlas.com. mt From left: Keith Tanti, Claudia Formosa, Julian Somerville (Atlas Insurance), Anne Marie Muscat Fenech Adami (Naxxar Mayor), Fr David Gauci (Naxxar Parish Priest), Angele Cocks Zammit McKeon, Matthew von Brockdorff (Atlas Insurance)