TIDMSEED
Seed Innovations Limited
17 August 2021
REACH
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
17th August 2021
SEED Innovations Limited ("SEED" or the "Company")
Investee Company Update: Eurox Group
SEED Innovations Limited, 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 the
announcement involving its portfolio company, Eurox Group
("Eurox"), a German-based, European vertically integrated medical
cannabis company in which it holds an 8.85% interest.
Eurox has entered into a distribution agreement with Materia
Deutschland GmbH ("Materia"), a leading processor and distributor
of medical cannabis and CBD wellness products across Europe, whe
reby Materia will become one of Eurox's selected distribution
partners for its medicinal cannabis extracts.
Ed McDermott, Chief Executive Officer of SEED, commented: "We
are very pleased to see Eurox-branded products, that are all
locally produced in Germany, being utilised in a distribution
agreement with Materia. Over the coming weeks and months, we expect
to see a number of distribution avenues through pharmaceutical
distributors and medical cannabis distributors for the 'made in
Germany' Eurox-brand whilst they continue to grow their range of
products. SEED Innovations looks forward to sharing further
developments from Eurox."
The announcement by Materia is set out below without material
changes or adjustments:
LONDON, August 17th, 2021 - Materia, a leading processor and
distributor of medical cannabis and CBD wellness products across
Europe, is pleased to announce that its wholly-owned subsidiary
Materia Deutschland GmbH ("Materia Deutschland"), has entered into
an agreement with German medical cannabis manufacturer Eurox Pharma
GmbH ("Eurox Pharma"), becoming one of Eurox Pharma's selected
distribution partners for its medical cannabis extracts.
The agreement represents a new line of products for Materia
Deutschland's curated portfolio and complements its sales team's
focus on expanding its national pharmacy network, including all
pharmacies who currently dispense medical cannabis extracts.
Extracts are the fastest growing format in Germany's medical
cannabis market, exhibiting approximately +62% sequential quarterly
growth at the beginning of this year1. As at the end of 2020,
medical cannabis extracts had been distributed across almost
one-fifth of public German pharmacies2.
"We're proud to partner with a company as innovative as Eurox
Pharma in advancing the German market. By pairing their extracts
with our distribution expertise, we're confident this partnership
will be a great success for both of us," said Sebastian Blöte,
Managing Director, Germany of Materia Deutschland. "We know many
pharmacies are asking for high quality extracts, so this supports
our goal of rapidly broadening our customer base."
Dr. Bernhard Babel, CEO of Eurox Pharma, added, "All our
Eurox-branded medicinal products are produced in a state-of-the-art
German facility and adhere to the highest EU and German standards.
Eurox provide the highest quality product whilst maintaining
uncompromising safety standards to ensure a stable supply and full
control of our entire supply chain - from selecting the plant
material to manufacturing and distribution. To that end, we most
carefully select our partners, and we are therefore very pleased to
announce our distribution partnership with Materia."
About Materia
Materia is a leading independent processor and distributor of
medical cannabis and CBD wellness products. Materia has developed a
robust EU-GMP manufacturing and distribution ecosystem to grow the
legal cannabinoid market across Europe. With its research-driven
team and regulatory expertise, Materia focuses on the high-margin
downstream activities of processing, formulation and distribution
into markets wherever there is a patient in need of cannabis
medicine or CBD consumers seeking innovative new products.
For more information on Materia, please visit
https://materia.global
About Eurox Pharma GmbH
Eurox has an exclusive, long-term contract and manufacturing
agreement for medical cannabis products with Dr. Reckeweg & Co.
GmbH ("Dr Reckeweg"), an EU GMP certified German pharmaceutical
company with 75+ years of experience of manufacturing plant-based
medicinal products. Eurox Group has fully owned German subsidiaries
responsible for product development, holding IP and commercial
relationships.
Outside Germany, Eurox Group holds the following assets:
-- A fully-owned Portuguese subsidiary: Eurox Portugal is
currently building its cultivation facility to secure vertical
integration and long-term supply independence.
-- A significant minority ownership of Integro Medical Clinics,
a London Care Quality Commission (CQC) registered medical cannabis
clinic.
For more information on Eurox, please visit
https://www.eurox-pharma.com
Fo r further information, please contact:
Deepak Anand, CEO
Email: investors@materiaventures.com
Website: http://www.materia.global/
For further information on the Company please visit www.seedinnovations.co or contact:
-Ends -
Ed McDermott SEED Innovations Ltd Email: info@seedinnovations.co
/
Lance de Jersey
James Biddle Beaumont Cornish Limited, Tel: +44 (0) 207 628
/ Nomad 3396
Roland Cornish
-------------------------- -----------------------------------
Isabella Pierre Shard Capital Partners T: +44 (0)20 7186 9927
/ LLP
Damon Heath
-------------------------- -----------------------------------
Catherine Leftley St Brides Partners Email: info@stbridespartners.co.uk
/ Ltd,
Isabel de Salis Financial PR
-------------------------- -----------------------------------
Notes
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.
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