Willow Biosciences (CSE: WLLW) today released its financial
results for the three and six months ended June 30, 2019 and provided an
operational update. Among highlights for the quarter, the company reported that
it has: expanded its operations to include three facilities located in Calgary,
Alberta, Mountain View, California and Burnaby, British Columbia; made key
appointments to its management team and board of directors; entered an
exclusive Joint Development Agreement (“JDA”) with Noramco; and completed a
reverse takeover and raised gross proceeds of approximately $37.0 million.
“Over the past few months, we have made impressive progress in advancing our
business on several important fronts,” Willow President and Chief Executive
Officer Trevor Peters said in the news release. “We have assembled a team of proven
business executives and world-renowned scientists to lead the development of
our high-quality consumer, wellness, and pharmaceutical ingredient
manufacturing programs. The development of our yeast-based cannabinoid
production platform is progressing well and we expect to initiate the scaling
up of our process in the first half of 2020. In addition to advancing our
development operations, we are focused on positioning Willow for successful
future commercialization through our recently signed strategic partnership with
Noramco, Inc. (Noramco), one of the world’s leading pharmaceutical cannabinoid
ingredient producers.”
To view the full press release, visit http://ibn.fm/TiRkj
About Willow Biosciences Inc.
Headquartered in Calgary, Canada, Willow and its team of
scientists are leaders in the field of biosynthetic production of high-value,
plant-derived compounds. Willow has applied its integrated suite of
technologies to develop manufacturing processes for numerous active
pharmaceutical ingredients with various therapeutic benefits, including cancer
treatment, pain management and CNS disorders. In the cannabinoid field, Willow
owns proprietary, yeast-based lab strains that produce CBD,
tetrahydrocannabinol (THC) and cannabigerol (CBG), as well as certain minor and
novel cannabinoids. For more information, visit the company’s website at www.WillowBio.com.
NOTE TO INVESTORS: The latest news and updates
relating to WLLW are available in the company’s newsroom at http://ibn.fm/WLLW
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