Seed Innovations Limited Investee Company Update: Avextra
09 Februar 2023 - 8:15AM
RNS Non-Regulatory
TIDMSEED
Seed Innovations Limited
09 February 2023
9 February 2023
SEED Innovations Limited
("SEED" or the "Company")
Investee Company Update: Avextra AG Exports Oil-Based Cannabis
Medicines to the United Kingdom
SEED Innovations Ltd, the AIM-quoted company investing in
fast-growing and industry-leading businesses with a focus on the
medical cannabis, health, and wellness space, is pleased to note an
announcement released by its portfolio company, Avextra
('Avextra'), a German-based, European vertically integrated medical
cannabis company.
SEED's holding in Avextra on a fully diluted basis totals
approximately 7.48 per cent.
The following extract from the announcement is set out without
material changes or adjustments.
Avextra Successfully Exports Oil-Based Cannabis Medicines to the
United Kingdom
-- Avextra successfully exported EU-GMP standardised cannabis
extracts manufactured in its German facility to its distribution
partner in the United Kingdom
-- Export is a significant milestone that validates the
regulatory pathway for medical cannabis products from Germany
-- Avextra will continue to work with its partners to serve
patients across the United Kingdom and across Continental
Europe
-- Avextra retains an ownership stake in Integro Medical Clinics
in London, as a strategic asset in the UK market
BENSHEIM, Germany, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Avextra AG
("Avextra" or the "Company"), a leading vertically-integrated
manufacturer of Cannabis-based medicines located in Germany, is
pleased to announce the successful export of its standardised
cannabis extracts to the United Kingdom ("UK"). The UK is the
world's largest exporter of Cannabis-based medicines and therefore
one of the strictest jurisdictions in the world for their
imports.
This milestone marks a significant step forward for the Company
as it validates the regulatory pathway for the UK market and
provides patients access to Avextra's EU-GMP certified
Cannabis-based medicines.
The Company's standardised cannabis extracts, which are
manufactured using the highest quality starting material and the
latest extraction techniques, have been met with positive feedback
from patients and healthcare professionals alike. Avextra's
commitment to producing safe and effective products has been
recognised by regulatory bodies, allowing the company to enter new
markets and reach more patients in need.
Avextra has an ownership stake in Integro Medical Clinics, a
medical cannabis clinic located in London, UK. This clinic provides
Avextra the opportunity to better understand unmet patient need and
gather valuable insights to develop safe and effective
Cannabis-based medicines of the highest quality to address it. This
unique combination of distribution and market intelligence has put
Avextra in a strong position to continue to grow and succeed in the
UK and other European medical cannabis markets.
"We are thrilled to be able to expand our reach and bring our
products to patients in the UK," said Bernhard Babel, Co-CEO of
Avextra. "Regulations are developing in a positive direction across
Europe as governments and the medical community continue to
recognise the benefits of medical cannabis and its potential to
improve patients' quality of life". In addition, "Having a stake in
Integro Medical Clinics allows us to aggregate data and glean
valuable insights into the needs of patients in the UK, as we
continue to innovate and improve our products to meet those
needs."
This expansion into the UK market is a testament to Avextra's
commitment to innovation and quality, and the company looks forward
to continued growth and to bringing its products to more patients
across Europe in the future.
The announcement in full can be accessed from the following link
https://www.globenewswire.com/news-release/2023/02/08/2604058/0/en/Avextra-Successfully-Exports-Oil-Based-Cannabis-Medicines-to-the-United-Kingdom.html
- Ends -
For further information on the Company please visit: www.seedinnovations.com or contact:
Ed McDermott SEED Innovations Ltd E: info@seedinnovations.co
Lance de Jersey
James Biddle Beaumont Cornish Limited, T: (0)20 7628 3396
Roland Cornish Nomad
-------------------------- -------------------------------
Isabella Pierre Shard Capital Partners T: (0)20 7186 9927
Damon Heath LLP
Broker
-------------------------- -------------------------------
Catherine Leftley St Brides Partners E: info@stbridespartners.co.uk
Isabelle Morris Ltd,
Max Bennett Financial PR
-------------------------- -------------------------------
Notes
Seed Innovations Ltd
SEED Innovations is an AIM quoted investment company focused
primarily on disruptive high growth life sciences and technology
businesses particularly within the medical cannabis arena. The
Company's strategy is to identify early-stage opportunities that
have an upcoming investment catalyst and grow its portfolio in
terms of value whilst limiting the number of investee companies to
a level where relevant time can be devoted to each.
About Avextra AG
Avextra is one of Europe's leading vertically integrated
suppliers of high-quality Cannabis-based medicines. Founded in 2019
and based out of Bensheim, Germany, the company focuses on the
production of precisely formulated Cannabis-based medicines.
Avextra controls the entire value chain - from the cultivation of
the plants in Portugal to the EU-GMP certified production in
Germany. Avextra operates across continental Europe through an
expansive distribution network and assets strategically developed
in key markets.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRASSDSWUEDSESE
(END) Dow Jones Newswires
February 09, 2023 02:15 ET (07:15 GMT)
Fastforward Innovations (LSE:FFWD)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Fastforward Innovations (LSE:FFWD)
Historical Stock Chart
Von Sep 2023 bis Sep 2024