Eurox Pharma

Eurox Pharma, which rebranded as Avextra in September 2022, operates as a vertically integrated entity in the European medical cannabis market. The company was established in 2019 by a trio of founders: Neil Smith, a former senior executive at Deutsche Bank; Bernhard Babel, a past partner at McKinsey & Co; and David Reckeweg-Lecompte, the CEO of Dr. Reckeweg & Co., a German pharmaceutical firm with a long history in plant-based medicines. Smith's prior experience includes developing a seed-to-sale cannabis operation across Europe.

The firm's business model is centered on controlling the entire supply chain, from cultivating cannabis at its facility in Portugal to manufacturing pharmaceutical-grade products in Bensheim, Germany. This structure is designed to ensure product quality and supply chain independence for the European market. The company's primary revenue stream is derived from the sale of prescription medical cannabis products, including full-spectrum extracts and the active pharmaceutical ingredient (API) dronabinol, to pharmacies. Before the launch of its own branded products, Eurox generated revenue by distributing imported medical cannabis flowers.

Eurox Pharma provides precisely formulated cannabis-based medicines for patients with unmet medical needs. Its products, marketed as "Made in Germany," undergo rigorous quality control, leveraging a partnership with Dr. Reckeweg & Co. at an EU-GMP certified manufacturing plant. This facility, certified in October 2020, is equipped to produce a significant volume of cannabis-based medicines. A key milestone was achieved in August 2021 when the company began distributing the first standardized cannabis extracts produced in Germany, aiming to reduce dependency on international imports. The company also dedicates a substantial portion of its budget to research and development, collaborating with institutions like the University of Frankfurt to build clinical evidence for its therapies.

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