The European cannabis sector is experiencing notable activity as companies like DanCann, Phytanix, and Sandoz make significant announcements. This surge in corporate developments coincides with European Cannabis Week, which runs from June 19-25 in Berlin and London, featuring key discussions from industry leaders.
DanCann Pharma Updates. Recently, Denmark’s government confirmed that it will establish its medical cannabis pilot program as a permanent part of its national healthcare system, starting January 1, 2026. In light of this, DanCann Pharma has received regulatory approval to distribute two additional products from Bedrocan’s portfolio in Denmark. Bedrocan’s products have been available since 2018 through CanGross Aps, which DanCann acquired in 2021.
DanCann now distributes Bedrocan’s medical products in Denmark, including Bedica and Bediol. The company is also set to distribute full-spectrum cannabis extracts from German firm MYCB1 GmbH across Denmark, Norway, and Sweden. The newly approved products, Bedrolite and Bedrobinol, are expected on the market within two months. Bedrolite is a CBD-dominant granulate for vaporization with about 9% CBD and less than 1% THC, while Bedrobinol is a THC-dominant flower product containing 13.5% THC and less than 1% CBD. Patients will benefit from a government subsidy of 50%, pricing these products at approximately DKK 250.00 for five grams (around DKK 50.00 or £5.65 per gram).
Phytanix and Protagenic Merger. Phytanix Bio, a preclinical cannabinoid pharmaceutical company founded by former GW Pharmaceuticals members, has successfully merged with NASDAQ-listed Protagenic Therapeutics. The definitive share exchange agreement allows Phytanix stockholders to control approximately 65% of the new entity, Phytanix Inc., while Protagenic stockholders hold around 35%. Following the merger completion on May 16, Protagenic’s stock price rebounded by over 306%, generating about $3.1 million in warrant exchanges, which will support its expanded drug development pipeline.
Phytanix Inc. will focus on cannabinoid drug development, including five preclinical assets and one clinical-stage asset targeting central nervous system (CNS) disorders and cardiometabolic conditions. The company claims to possess proprietary compounds with applications in obesity and metabolic dysfunction, particularly relevant given the current market interest in treatments like Ozempic.
Avecho and Sandoz Partnership. Avecho Biotechnology has partnered with Sandoz to introduce its CBD capsule for insomnia in Australia. Under a 10-year exclusive agreement, Sandoz acquires commercial rights in Australia while Avecho retains rights in all other markets. The deal includes an upfront payment of $3 million, potential development milestone payments of up to $16 million, and tiered royalties of 14-19% on future net sales.
Avecho is advancing its Phase III clinical trial of the CBD soft-gel capsule, the largest of its kind in Australia, aiming to recruit 210 patients before an interim analysis expected in early 2026. The trial’s expansion follows Avecho’s licensing agreement with Sandoz, which also supports patient recruitment and regulatory strategies with the Therapeutic Goods Administration (TGA). If successful, Avecho’s CBD capsule could become the first over-the-counter CBD treatment for insomnia in Australia, a market projected to exceed $125 million annually.
As these companies navigate the evolving landscape of pharmaceutical cannabis, their strategic moves reflect broader trends within the industry. The upcoming European Cannabis Week will provide a platform for further discussion and exploration of these developments.
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