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NetworkNewsBreaks – Willow Biosciences Inc. (CSE: WLLW) (OTCQB: CANSF) Comments on DEA Descheduling Partner’s CBD

Company: Willow Biosciences Inc. (WLLW)
Category: News

Willow Biosciences Inc. (CSE: WLLW) (OTCQB: CANSF), a Canadian biotechnology company and a leading developer in biosynthetically produced cannabidiol (“CBD”), this morning issued a release commenting on the recent news that the U.S. Drug Enforcement Agency (“DEA”) has removed Purisys, LLC’s CBD from Schedule I of the Controlled Substances Act (“CSA”). Purisys, the spin-out entity of Noramco, Inc.’s cannabinoids business, began operating as a stand-alone entity on October 1, 2019 and is expected to become independent from Noramco on January 1, 2020. Per the terms of a joint development agreement, Noramco is Willow’s exclusive manufacturing and distribution partner. Willow holds an informal partnership with Purisys through the agreement as well. “The descheduling of our partner Purisys’ CBD from the CSA signals a fundamental change in how the regulatory bodies in the United States view ultra-pure CBD,” Willow Biosciences president and CEO Trevor Peters stated in the news release. “At Willow, we have always maintained the view that as the market for CBD continues to unfold in the United States there will be an increased amount of oversight into the quality of the manufacturing process in addition to the specifications around the molecule itself. The partnership strives to produce ingredients that are of the highest quality and consistency. As we move towards commercialization of CBD, we believe a significant portion of the pharmaceutical and consumer products industries will desire the ultra-pure, consistent, and cost-effective ingredients that the partnership will be able to provide.”

To view the full press release, visit http://nnw.fm/0fjQb

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company based in Calgary, Alberta, that produces high purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is in the production of cannabinoids for the treatment for pain, anxiety, obesity, brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs. For more information, visit the company’s website at www.WillowBio.com.

NOTE TO INVESTORS: The latest news and updates relating to WLLW are available in the company’s newsroom at http://nnw.fm/WLLW

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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