Halifax biotech company developing safe, cutting-edge products to ease chronic pain, inflammation

July 11, 2019 – Halifax, NS – Atlantic Canada Opportunities Agency

Innovative new treatments for pain management improve the daily lives of Canadians. Panag Pharma Inc. is developing a line of plant-based remedies to fight chronic pain and inflammation, helping people enjoy a better quality of life, and growing Atlantic Canada’s life sciences sector.

The Halifax biotechnology company is creating a family of both over-the-counter and prescription cannabinoid-based products that provide safe, effective, non-addictive pain management. The treatments act directly on the pain receptors in the body and are used for wound healing, treating irritated skin and relieving cold sores, among other applications. Unique in the world, these natural medications enable the company to create highly skilled jobs and position it well for future growth.

Today, Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced support for Panag Pharma Inc. as it develops and commercializes its innovative products.

The Government of Canada is making smart investments that will create good, highly skilled jobs in our country. It is helping small and medium-sized businesses to start-up, expand or modernize and supporting not-for-profit industry organizations to fuel business growth. Support for this project is one way the Government of Canada is working to achieve its Atlantic Growth Strategy outcome of long-term economic prosperity in the region.