SUNNYVALE, Calif., Aug. 21,
2023 /CNW/ - Willow Biosciences Inc.
("Willow") (TSX: WLLW) (OTCQB: CANSF), a leading
biotechnology company focused on revolutionizing industrial
manufacturing of pure, consistent and sustainable functional
ingredients, today announced a collaboration with a Nasdaq-listed
biopharma company to develop new sustainable manufacturing routes
to key intermediates and active pharmaceutical ingredients
(APIs).
Willow's collaboration partner recognized the need to employ
more sustainable methods to manufacture intermediates and APIs at
reduced cost and less waste and sought Willow's expertise in
developing and scaling key ingredients. The initial program will
focus on the feasibility of developing a biobased pathway and, if
successful, advance development toward implementation at commercial
scale. The development phase of this funded collaboration is
expected to last approximately two months. Due to the competitive
nature of the targeted ingredient applications, the partner's name
and further information is not being disclosed at this time.
"We are honored to have been selected by such a forward-thinking
biopharmaceutical company to jointly explore innovative pathways
toward the development of sustainably sourced intermediates and
APIs," said Dr. Chris Savile,
Willow's President & CEO. "If successful, we believe that by
leveraging biobased routes, these ingredients essential for human
health can be made more broadly available while providing a
solution for overseas supply chain issues that can increase cost
and potentially create shortages."
This agreement represents the 5th new development
agreement executed by Willow in 2023, with a robust pipeline of
other potential collaborations in process.
About Willow Biosciences
Inc.
Willow develops and produces precision fermented functional
ingredients for the health and wellness, food and beverage and
personal care markets. Willow's FutureGrown™ and BioOxi™ platforms
enable large-scale production with sustainability at its core.
Willow's R&D team has a proven track record of developing and
commercializing bio-based manufacturing processes and products to
benefit our B2B partners and their customers. For more information,
visit www.willowbio.com.
FutureGrown™ and BioOxi™ are registered trademarks of Willow
Biosciences Inc. All other trademarks are trademarks of their
respective holders.
Forward-Looking
Statements
This news release may include forward-looking statements
including opinions, assumptions, estimates and the Company's
assessment of future plans and operations, and, more particularly,
statements concerning: the development programs with its biopharma
partner, including the ability to accommodate new programs and to
expand capabilities;; the demand and market size potential of the
synthetic ingredients industry; and the business plan of the
Company, generally, including becoming a leader in precision
fermentation, research and production of functional ingredients.
When used in this news release, the words "will," "anticipate,"
"believe," "estimate," "expect," "intent," "may," "project,"
"should," and similar expressions are intended to be among the
statements that identify forward-looking statements. The
forward-looking statements are founded on the basis of expectations
and assumptions made by the Company which include, but are not
limited to: the success of Willow's strategic partnerships,
including the development of future strategic partnerships; the
financial strength of the Company; the ability of the Company to
fund its business plan using cash on hand and existing resources;
the market for Willow's products; the ability of the Company to
obtain and retain applicable licences; the ability of the Company
to obtain suitable manufacturing partners and other strategic
relationships; and the successful implementation of Willow's
commercialization and production strategy, generally.
Forward-looking statements are subject to a wide range of risks and
uncertainties, and although the Company believes that the
expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will
be realized. Any number of important factors could cause actual
results biotechnology industry in general; the success of the
Company's research and development strategies; infringement on
intellectual property; failure to benefit from partnerships or
successfully integrate acquisitions; actions and initiatives of
federal and provincial governments and changes to government
policies and the execution and impact of these actions, initiatives
and policies; competition from other industry participants; adverse
U.S., Canadian and global economic conditions; adverse global
events and public-health crises,; failure to comply with certain
regulations; departure of key management personnel or inability to
attract and retain talent; and other factors more fully described
from time to time in the reports and filings made by the Company
with securities regulatory authorities. Please refer to the
Company's most recent annual information form and management's
discussion and analysis for additional risk factors relating to
Willow, which can be accessed either on Willow's website
at www.willowbio.com or under the Company's profile
on www.sedarplus.com.
The forward-looking statements contained in this news release
are made as of the date hereof and the Company does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, except as required by applicable law.
The forward-looking statements contained herein are expressly
qualified by this cautionary statement.
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SOURCE Willow Biosciences Inc.
