Cellular Goods PLC Supply agreement signed with Willow Biosciences (4064B)
10 Junio 2021 - 01:00AM
UK Regulatory
TIDMCBX
RNS Number : 4064B
Cellular Goods PLC
10 June 2021
Press release
10 June 2021
Cellular Goods PLC
Multiyear supply agreement for cannabigerol (CBG) signed with
Willow Biosciences
Cellular Goods (LSE: CBX), a UK-based provider of premium
consumer products based on lab-made cannabinoids, and Willow
Biosciences Inc. ("Willow") (TSX: WLLW; OTCQX: CANSF), a
biotechnology company producing ultra-pure, sustainably made
compounds, are pleased to announce they have signed a multiyear
supply agreement whereby Willow will supply Cellular Goods with its
proprietary, ultra-pure, biosynthetically produced, cannabigerol
("Willow CBG") to be used in Cellular Goods' premium
cannabinoid-based skin care products which launch in the autumn of
2021.
Willow's first shipment of Willow CBG to Cellular Goods will
arrive in July this year.
In April 2021, Willow announced the completion of a series of
studies with its development partner, Signum Biosciences, Inc.,
that demonstrate the safety and anti-inflammatory, anti-aging, and
antimicrobial properties of Willow CBG on human skin. These
results, coupled with the sustainable and safe manufacturing nature
of Willow's manufacturing process, make Willow CBG an ideal core
ingredient for cosmetics in the evolving regulatory landscape of
the United Kingdom.
Last month the European Commission declared that cannabigerol
(CBG) had been added to the EU cosmetic ingredients database (named
"CosIng"), approving the compound as safe for use in personal care
and cosmetics products. European manufacturers of personal care and
cosmetics products can now use CBG in their products with the
approval of a major market regulator for trade in the European
Union. At present, the UK remains harmonised with CosIng.
Alexis Abraham, Cellular Goods' Chief Executive Officer, said:
"Successful products start with the best ingredients and being able
to source consistent, highly-pure cannabinoids via cellular
agriculture from a trusted provider like Willow is essential to our
business. CBG is the most promising cannabinoid for skincare
applications and we believe it will become a must have upgrade to
people's daily routines. Cellular Goods will be the first to bring
a range to market in the UK built on our core principles of
delivering efficacy-led and research-backed consumer cannabinoid
products."
Trevor Peters, Willow's President & Chief Executive Officer,
said: "We are very excited to announce our first commercial supply
agreement for CBG. In just over two years we have gone from proof
of concept in the lab to commercial scale up and sales of our first
cannabinoid which will be slated for use in a consumer product.
Cellular Goods are at the forefront of developing premium consumer
cannabinoid products in the United Kingdom and we are thrilled to
be supplying them with our ultra-pure, biosynthetically made
CBG."
For further information please contact:
Cellular Goods
Alexis Abraham +44 207 031 6871
Chief Executive
Neil Thapar
Investor Relations +44 787 645 5323
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Tennyson Securities
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Corporate Broker
Peter Krens +44 207 186 9030
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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 biosynthetic cannabinoids. It was established in
August 2018 to develop efficacy-led and research-backed cannabinoid
products. The initial focus is on two product verticals: premium
skincare and topical athletic recovery 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 Willow Biosciences Inc.
Willow is a Canadian biotechnology company that develops and
produces high-purity, plant derived ingredients for consumer care,
food and beverage, and pharmaceutical products. Willow's
manufacturing process creates a consistent, scalable and
sustainable product that benefits industry and consumers. Willow's
team has a proven track record of developing and commercializing
bio-based manufacturing processes and products for both the
consumer and pharmaceutical industries.
www.willowbio.com
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