TIDMCBX
RNS Number : 6698I
Cellular Goods PLC
16 August 2021
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014, as retained as part of
the law of England and Wales. Upon the publication of this
announcement via the Regulatory Information Service, this inside
information is now considered to be in the public domain.
Press release
16 August 2021
Cellular Goods PLC
("Cellular Goods" or "the Company")
Multiyear supply agreement signed for launch of ingestible
products
Cellular Goods (LSE: CBX), a UK-based provider of premium
consumer products formulated with lab-made cannabinoids, is pleased
to announce a multi-year manufacture and supply agreement with
Chanelle McCoy Health Ltd (CMH) bringing forward its launch of a
range of clinically-validated ingestible products to Q4 2021.
Under the agreement, CMH, a research-led developer of high
quality ultra pure cannabinoid (CBD) products that are fully
compliant with the new novel food regime, will initially supply
three CBD ingestibles which will go on sale under the Cellular
Goods brand in the UK, followed by continental Europe in 2022.
The deal marks a significant step in Cellular Goods'
go-to-market strategy and will accelerate its entry into the market
for ingestible wellness products for human consumption by more than
a year.
These products will be introduced in mid-December at the same
time as the Company's inaugural skincare range incorporating
cannabigerol (CBG), and ahead of the new season product launches
typically made in the wellness sector during the first quarter of a
new year. The Company will initially sell the ingestible range
exclusively through its new ecommerce website, which is in the
latter stages of build and deployment.
A third line-up of "movement" products for both the athletic and
everyday muscle recovery market is due to be launched in Spring
2022.
Key benefits of the deal include:
-- Immediate entry into the most developed market segment with
early revenue generation opportunity.
-- Expands Cellular Goods' branded product range into a complementary market segment.
-- Provides access to a range of novel-food regulation compliant
products which are ready for launch.
-- Reduced upfront R&D expenditure for market entry in ingestibles.
-- Opportunity for future product development and research
collaborations through access to compliant ultra pure CBD and
pharmaceutical expertise.
At launch the ingestible range will comprise a tincture, spray,
and capsules covering the most popular modes of consumption. These
have already passed extensive quality, safety and stability tests,
comply with novel foods regulations in the UK and EU and are
certified under Good Manufacturing Practice (GMP) standards. They
contain lab-made CBD obtained through a GMP-certified process
whereby naturally derived raw materials are converted to
non-psychoactive ultra pure CBD that is bioidentical to
plant-derived CBD but devoid of the many contaminants commonly
found in plant-extracts, including pollutants, toxins, terpenes,
heavy metals, pesticides, and psychoactive substances.
-- According to the Association for the Cannabinoid Industry
(ACI) the UK has the world's most developed regulatory framework
for legal cannabinoids and this market is estimated to be worth
GBP690 million in 2021, making it the second largest in the world
after the US.
-- The market for ingestible CBD products has seen strong growth
following the European Commission's ruling that CBD is not
considered a narcotic under the United Nations Single Convention on
Narcotic Drugs of 1961.
-- Similarly, the World Anti Doping Agency has removed CBD from
its list of prohibited substances, enabling use by professional and
amateur athletes. The World Health Organization has also stated
that CBD is "generally well-tolerated with a good safety
profile".
Alexis Abraham, Cellular Goods' Chief Executive Officer, said:
"Chanelle McCoy Health was founded by pharmaceutical industry
veterans who share our vision that consumers have a right to expect
products which are safe, pure, clean and green; something lab-made
cannabinoids alone can guarantee. Through this partnership we will
be introducing consumers to novel food compliant CBD ingestibles
that will complement our CBG skincare range. As a result we will
launch this year with both CBD and CBG and two best in class
product ranges; one of which is substantially earlier than we
expected."
Lady McCoy, Chief Executive and Co-Founder of Chanelle McCoy
Health, added: "We are very excited to announce this commercial
supply agreement of our ultra pure CBD. Consumers are searching for
safe, certified, and reputable CBD products that are backed by
clinical studies. This partnership will provide them choice and
access to quality-assured CBD products containing 0% THC, an
illegal narcotic, and free from toxins and pollutants. Cellular
Goods and Chanelle McCoy Health are aligned in our pursuit to help
break the stigma of CBD, educate and set the benchmark for the CBD
industry."
For further information please contact:
Cellular Goods
Alexis Abraham +44 207 031 6871
Chief Executive
Neil Thapar
Investor Relations +44 787 645 5323
-------------------
Tennyson Securities
-------------------
Corporate Broker
Peter Krens +44 207 186 9030
-------------------
Novum Securities
-------------------
Corporate Broker
Colin Rowbury
Jon Belliss +44 207 399 9427
-------------------
Tancredi Intelligent Communication
-------------------
Media Relations
Helen Humphrey
Edward Daly +44 744 922 6720
Salamander Davoudi +44 786 143 0057
cellulargoods@tancredigroup.com +44 795 754 9906
-------------------
About Cellular Goods PLC
Cellular Goods is a U.K.-based provider of premium consumer
products based on lab-made cannabinoids. It was established in
August 2018 to develop efficacy-led and research-backed cannabinoid
products. The initial focus is on three product verticals: premium
CBG skincare, and CBD ingestibles and topical athletic recovery,
with the first products to be launched from this autumn. These will
be made available through partnerships with leading online and
physical retailers and direct to consumers through the Company's
website.
www.cellulargoods.co
About Chanelle McCoy Health
Chanelle, Lady McCoy and partner Caroline Glynn worked together
for over a decade in Chanelle Pharma, now Ireland's largest
indigenous pharma company, where they developed the medical
business, achieving 2,500+ product licences and penetrating 96
global markets. They founded Chanelle McCoy Health, driven by their
strong belief in CBD's healing properties and desire to bring a
high-quality product to the market supported by clinical trials.
Chanelle, Lady McCoy was awarded the All-Ireland Business Champion
Award 2018 for her outstanding achievements in business leadership.
She was a Dragon investor on the popular TV series Dragons' Den,
and recently ranked "no. 23 in the 50 incredible people shaping
modern Ireland".
www.chanellemccoyhealth.com
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
AGRGPUGARUPGGQC
(END) Dow Jones Newswires
August 16, 2021 02:00 ET (06:00 GMT)
Cellular Goods (LSE:CBX)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Cellular Goods (LSE:CBX)
Gráfica de Acción Histórica
De May 2023 a May 2024
