Bioxyne Limited (ASX: BXN) says it has entered the German cannabis market through its subsidiary Breathe Life Sciences (BLS) in a multi-million-dollar deal.
BLS has executed a manufacture and supply agreement with German firms Farmakem d.o.o. as Buyer and Adrex Pharmaceuticals GmbH, an importer, manufacturer, and distributor of cannabis in Germany.
Farmakem and Adrex have agreed to purchase and distribute a minimum of 1,600kg of cannabis flower product manufactured by BLS during FY2026. Under this agreement, BLS expects to rack up a minimum of A$5.6m (€3.2m) in revenue over the next financial year. The first delivery of 580kg is scheduled for September this year, with a second shipment planned for November.
“Bioxyne is positioned for significant growth in FY2026, attributable to further expansion of its business in Australia as well as entry into new high-growth opportunity markets including the UK, Germany and other EU countries,” said the firm. “The German medical cannabis market is growing rapidly following deregulation in early 2025 and is expected to overtake Australia’s $1b-per-year medcan market in 2026.”
Earlier this month we reported Germany’s imports of medical cannabis in the first quarter of this year were more than quadruple that of the same period in 2024. Imports from Australia during the period reached 804 kilograms, and 1.428 tonnes for the full year of 2024. So, this single BLS deal amounts to more than Australia’s contribution for that entire year.
“Cannabis Flower represents over 95% of Germany’s medical cannabis sales, and all product going into Germany must be manufactured under GMP-certification,” says Bioxyne. “As a GMP certified manufacturer BLS has scale and cost advantages with which the company expects to win significant business in Germany and other European markets.”
On a related note, Bioxyne has also announced its Receipt of Certificate of GMP Compliance with Europe, Canada, Singapore, and the United Kingdom.
“The Company is pleased to gain certification as it moves to expand its presence globally, with particular emphasis on European markets and the United Kingdom,” stated the firm.
Bioxyne acquired Breathe Life Sciences Pty Ltd in May 2023. BLS was founded in May 2018 and is a licensed manufacturer, sponsor, importer and exporter of controlled substances (S3, S4, S8) in Australia.
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