ALBUQUERQUE, N.M., March 16, 2020 (GLOBE NEWSWIRE) — PRESS RELEASE — Ultra Health, a New Mexico-based cannabis company with a nationwide presence, successfully exported low-THC, high-CBD cannabis medicine to Israel last week through its strategic partnership with Israeli pharmaceutical group Panaxia. Ultra Health is the first-ever commercial United States cannabis company to export cannabis extracts to Israel.
The high-CBD medicine was created from extracting New Mexico-produced hemp in Bernalillo, New Mexico after Ultra Health and Panaxia US received hemp extraction and manufacturing permits from the New Mexico Environment Department (NMED). Ultra Health is also a recipient of two continuous hemp commercial research production licenses from the New Mexico Department of Agriculture.
After being successfully imported into Israel via a permit from the Israel Ministry of Health, Panaxia plans to make the high-CBD medicines available to patients suffering from epilepsy or autism spectrum disorder (ASD), many of whom are children. The first suite of products will include sublingual tablets, oral tablets and sublingual drops, with future expansion plans to include inhalable products, ointments and creams.
Upon the successful import of the high-CBD medicines to Israel, Ultra Health agreed to purchase another 1,000 pounds of New Mexico-produced hemp to begin expanding further production and export.
“We are pleased to be able to extend care to our patients in Israel who are in acute need of this kind of medicinal cannabis care,” said Dr. Dadi Segal, Panaxia CEO. “Panaxia’s superb R&D capabilities combined with the added value of a high-quality strategic company such as Ultra Health prove themselves time and again, especially with regard to the high quality of the products and stringent regulatory compliance.”
“We are grateful to the New Mexico Environment Department and the New Mexico Department of Agriculture, who had a key role in making all of this happen,” said Duke Rodriguez, CEO, and president of Ultra Health. “I look forward to the continued success of the Ultra Health and Panaxia partnership that has proven to greatly enhance both entities’ abilities to innovate the cannabis industry on a global scale.”
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