CS MEDICA Group Completes Product Registration of CANNASEN® CBD-Infused Medical Devices in Israel
Strategic Milestone Achieved as CANNORDIC, a CS MEDICA Subsidiary, Navigates Regulatory Challenges
CS MEDICA Group, a forerunner in innovative substance-based medical devices containing bioactive CBD, announces the successful completion of the product registration process for the entire CANNASEN® portfolio of CBD-infused medical devices in Israel. This achievement marks a regulatory milestone for our subsidiary, CANNORDIC, and sets a new standard for over-the-counter CBD products in the region.
The first product, the CANNASEN® Pain Patch, received approval from Israel's Ministry of Health in May 2023, becoming the first over-the-counter (OTC) product with CBD in Israel. Despite initial delays due to regulatory complexities and regional conflicts, this launch in December 2023 has been well-received.
"The US FDA's prior approval played a crucial role in expediting the registration process for the remaining products. This strategic advantage allowed us to overcome subsequent regulatory challenges efficiently," says Lone Henriksen, CEO of CS MEDICA. She continues: "The complete registration of our CANNASEN® medical device portfolio in Israel, despite the delays caused by the complex regulatory environment and unfortunate regional conflicts, showcases the resilience and adaptability of our team and the importance of the right partnership."
CANNORDIC and Forbe Healthcare are now focusing on scaling production and preparing for a comprehensive market launch, committed to delivering high-quality healthcare solutions under challenging market conditions to minimize the risk of the distribution agreement volumes and secure the accessibility of the treatments for consumers.
For further details, please visit our website or contact our investor relations team.
This disclosure contains information that CS MEDICA A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 17-06-2024 15:35 CET.
For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
Email: lh@cs-medica.com
Website: https://www.cs-medica.com/
Forbe Healthcare Ltd. is committed to providing high-end healthcare products and services, striving to meet consumers' daily needs with innovative, high-quality, evidence-based solutions. With an extensive distribution network across all pharmacies and hospitals in Israel and Palestine, Forbe Healthcare Ltd. plays a crucial role in introducing groundbreaking medical devices to the market.
CS MEDICA Group, a Danish MedTech pioneer, specializes in developing evidence-based, CBD-integrated treatments for pain management, autoimmune and stress-related disorders. With a focus on patient-centric care, our products range from innovative R&D to registered over-the-counter substance-based medical devices and dermaceuticals. Our flagship CANNASEN® brand, alongside our own-label solutions, exemplifies our dedication to safe, high-quality treatments for both human and veterinary health globally. The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information, visit cs-medica.com and LinkedIn.
CANNORDIC A/S, a subsidiary of CS MEDICA Group, is a pioneering MedTech company specializing in innovative substance-based medical devices containing bioactive CBD. Our dedication to enhancing lives by integrating innovation, science, technology, and natural cannabis compounds positions it as a pioneer in the medical technology industry. The company ensures robust research, development, manufacturing, compliance, data insights, and commercialization processes with strong partners globally.
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