TIDMANA
RNS Number : 7963D
Ananda Developments PLC
26 June 2023
26 June 2023
ANANDA DEVELOPMENTS PLC
("Ananda" or the "Company")
Operational Update
Ananda's ambition is to be a leading provider of high-quality
cannabinoid-based medicines for the treatment of complex, chronic
inflammatory pain conditions.
Highlights
-- MRX1 cannabidiol based medical oil on track for commercial launch in July 2023
-- Second season of medical cannabis flower cultivation trials
underway and exceeding expectations
-- MRX1 cannabidiol medical oil for sale from July 2023 and MRX
website on track for launch in next four weeks
-- Genetic programme to stabilise strains accelerating; generating large seed numbers
Ananda's CEO, Melissa Sturgess, commented: "The NHS spends GBP5
billion each year attempting to treat complex, chronic inflammatory
pain conditions. If we can solve even a small portion of that
problem with our patent pending cannabidiol-based medicines, we
will be doing very good work for both patients and our
shareholders. I am optimistic on both fronts."
Commercial
MRX: cannabidiol based medical cannabis oils
The commercial launch of MRX1 cannabidiol based medical oil is
on track to commence in July 2023 and the product will be available
for prescribing by specialists from July. The information packs for
prescribers have recently been approved by external legal counsel.
In conjunction with the commercial launch, the MRX website will go
live in the next four weeks.
DJT medical cannabis flower, cultivation, and processing
At Ananda's UK-based, Home Office licenced cannabis cultivation
facility, the team has been growing three strains of cannabis that
meet the need for balanced and high CBD cultivars in the UK market.
The three strains are being grown in Ananda's natural season
cultivation environment, in order to assess the agronomic traits of
these strains and to perfect the growing methodology and Standard
Operating Procedures required for commercial cultivation.
The three cultivars were chosen after analysis of the 2022 field
season crop and include Sage, Apocalypse and Charlotte's Web. Sage
and Apocalypse are both balanced CBD:THC cultivars and Charlotte's
Web is a high CBD cultivar.
Ananda's view is that it will deliver high quality, high demand
and efficacious product by focusing on balanced and high CBD
producing strains. Whilst there is a large range of high THC
cultivars currently being imported, there is only a small choice of
balanced and high CBD cultivars. Discussions are progressing with
clinics and specials manufacturers for offtake agreements.
The team has also been managing the vegetative and flowering
stages of cultivation in order that harvesting work can be
staggered efficiently over time. This minimises operating costs and
increases quality as the team can work steadily and consistently
rather than be rushed if a number of cultivars have to be harvested
at the same time. This is a key KPI for future commercial
cultivation. The improvements in plant yield and health are visibly
noticeable when comparing 2022 trial plants with the current trial
crops.
Research
RCTs (Randomised Controlled Trials) using MRX1 cannabidiol based
medicaloil
The Company's patent pending MRX1 cannabidiol based medical oil
formulation goes onto stability testing on 3 July, 2023, in
preparation for being used in the CIPN ( Chemotherapy Induced
Peripheral Neuropathy ) and endometriosis RCTs to be conducted by
the University of Edinburgh. Stability testing is required to
confirm the medicine's storage requirements and shelf life.
DJT Genetic Stabilisation
The genetics programme is part way through its second cycle with
third generation seeds being produced by some 57 plants. The total
number of seed lines in the genetic stabilisation programme is 127
providing DJT with opportunities to develop specialist genetics in
the future. Since commencing the genetic breeding programme in
February 2022:
1. The time from germination to seed production has decreased
from an average of 95 days to an average of 35 days.
2. The number of seeds produced per plant has increased from
1-10 to approx. 300 seeds per plant. The highest yield to date is
more than 1,000 seeds from one plant.
This data has important implications for the potential of DJT to
provide stable seeds on a commercial scale for cultivators. As a
result of this progress, the Company has commenced early-stage
discussions with third parties who are interested in moving their
cultivation strategy from clones to seeds. The benefits of seed
cultivation over clone cultivation are numerous and is an emerging
trend amongst some of the larger North American cannabis companies
including Organigram, which recently announced a USD$8m seed
generation agreement with Phylos Bioscience.
Exercise of Options
Ananda has received gross funds of GBP18,812.50 from James Kerr
for the exercise of 4,180,455 options at 0.45 pence per share (the
"Option Shares"). 4,180,455 Ordinary Shares have been approved for
issue to Mr Kerr.
Application for Admission
Application will be made for the Option Shares to be admitted to
trading on the Access segment of the AQSE Growth Market. It is
expected that admission will become effective on 30 June 2023.
The Option Shares will, on admission, rank pari passu in all
respects with the Ordinary Shares in issue and will rank in full
for all dividends and other distributions hereafter declared, paid
or made on the ordinary share capital of the Company.
Total Voting Rights
Following the issue of the Option Shares, Ananda has
2,878,027,906 Ordinary Shares in issue, each share carrying the
right to one vote.
This figure of 2,878,027,906 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
To stay abreast of the latest developments at Ananda, we
encourage you to follow our social media channels which are:
-- Instagram: https://instagram.com/anandadevelopments?igshid=YmMyMTA2M2Y=
-- LinkedIn : https://www.linkedin.com/company/anadevelopments/
-- Twitter : https://twitter.com/anandaplc?s=21&t=9yeIC_xYCfzgDn7j26sfuA
-Ends-
The Directors of the Company accept responsibility for the
contents of this announcement.
ANANDA DEVELOPMENTS PLC +44 (0)7463 686 497
ir@anandadevelopments.com
Chief Executive Officer
Melissa Sturgess
Executive Director
Jeremy Sturgess-Smith
SP ANGEL CORPORATE FINANCE
LLP +44 (0)20 3470 0470
Corporate Finance
Richard Morrison
Harry Davies-Ball
Corporate Broking
Abigail Wayne
Rob Rees
About Ananda Developments
Ananda is an AQSE-listed company whose ambition is to be a
leading provider of cannabinoid-based medicines for the treatment
of complex, chronic inflammatory pain conditions.
For more information, please visit:
https://anandadevelopments.com/
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public do
main.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. 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.
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
UPDPPUBUQUPWGQW
(END) Dow Jones Newswires
June 26, 2023 02:00 ET (06:00 GMT)
Ananda Developments (AQSE:ANA)
Historical Stock Chart
From May 2024 to Jun 2024
Ananda Developments (AQSE:ANA)
Historical Stock Chart
From Jun 2023 to Jun 2024