Bioxyne Ltd (ASX:BXN) has taken a meaningful step into Central America after signing a manufacturing and supply agreement that positions the company as an early entrant in Costa Rica and Panama’s emerging medicinal cannabis markets.
The deal — struck through wholly owned subsidiary Breathe Life Sciences (BLS) — covers the manufacture of pharmaceutical-grade THC pastilles for Remidose LATAM SRL, a Costa Rican affiliate of Canadian cannabis specialist Remidose Aerosols Inc. Bioxyne said the agreement provides a first-mover advantage in two high-potential, low-competition jurisdictions where non-flower dosage forms such as pastilles are expected to dominate once regulatory pathways mature.
The agreement includes minimum order commitments that support more than A$1 million in potential annual revenue once TGA export approvals and in-market product registrations are secured. Bioxyne reiterated that the partnership contributes to its FY26 growth target of A$65–75 million in revenue and A$11.5–13.5 million EBITDA.
CEO Sam Watson said the agreement marks “a key step in our growth trajectory, as we continue to scale globally”, adding that it “aligns perfectly with Bioxyne's ‘people, purpose, profits’ ethos, delivering a strategic foothold in underserved markets and reinforcing our role in redefining medicine across borders.”
Strategic entry into new markets
The move expands Bioxyne’s international footprint beyond the UK, Europe and Asia, where it is already active through BLS’s Good Manufacturing Practice (GMP)-licensed manufacturing, distribution and controlled-substance operations. The company has been building capacity across multiple geographies — including recent plans to establish a GMP cannabis facility in the UK — as it shifts toward larger-scale supply agreements for pharmaceutical-grade cannabis products.
Read more: Bioxyne secures £850,000 funding to establish UK GMP cannabis facility
BLS’s pastille platform, already used by more than 200 medicinal cannabis brands in Australia, was a decisive factor for Remidose. The Canadian group specialises in precision-dosed metered inhalers and topical gels and selected BLS for its reliability and consistency in producing high-quality THC pastilles.
Remidose LATAM president Ludwig Muller said the company expects pastilles to become the dominant format in Latin America, driven by GMP-based regulatory regimes.
“We are very pleased to partner with Bioxyne to bring high quality and accurately dosed medicinal cannabis products that can help so many Costa Ricans and Panamanians,” he said.
Commercial terms and revenue potential
Bioxyne will initially manufacture three products — THC 10 mg, THC:CBD 10:10 mg and THC:CBD:CBN 5:5:10 mg — with a combined minimum of 10,000 units per quarter (40,000 units annually). Based on indicative pricing, the agreement represents potential annual revenue exceeding A$1 million once supply fully commences.
The initial 12-month rolling term includes automatic renewal, with termination only permitted on six months’ notice.
Building a global controlled-substances platform
Bioxyne continues to broaden its pipeline beyond medicinal cannabis, with BLS also manufacturing psilocybin, MDMA and other scheduled medicines and APIs under GMP licences. Its multi-continent distribution network — spanning Australia, Japan, the UK, Europe and the US — supports a diversified model of contract drug manufacturing, white-label production, novel medicines R&D and direct consumer sales through brands such as Dr Watson®.
The company said the new Central American agreement is consistent with its strategy to expand into underserved international markets with high regulatory barriers and growing demand for precisely dosed, pharmaceutical-grade alternative therapeutics.