Willow Biosciences (CSE: WLLW) today released its financial results for the three and six months ended June 30, 2019 and provided an operational update. Among highlights for the quarter, the company reported that it has: expanded its operations to include three facilities located in Calgary, Alberta, Mountain View, California and Burnaby, British Columbia; made key appointments to its management team and board of directors; entered an exclusive Joint Development Agreement (“JDA”) with Noramco; and completed a reverse takeover and raised gross proceeds of approximately $37.0 million. “Over the past few months, we have made impressive progress in advancing our business on several important fronts,” Willow President and Chief Executive Officer Trevor Peters said in the news release. “We have assembled a team of proven business executives and world-renowned scientists to lead the development of our high-quality consumer, wellness, and pharmaceutical ingredient manufacturing programs. The development of our yeast-based cannabinoid production platform is progressing well and we expect to initiate the scaling up of our process in the first half of 2020. In addition to advancing our development operations, we are focused on positioning Willow for successful future commercialization through our recently signed strategic partnership with Noramco, Inc. (Noramco), one of the world’s leading pharmaceutical cannabinoid ingredient producers.”
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About Willow Biosciences Inc.
Headquartered in Calgary, Canada, Willow and its team of scientists are leaders in the field of biosynthetic production of high-value, plant-derived compounds. Willow has applied its integrated suite of technologies to develop manufacturing processes for numerous active pharmaceutical ingredients with various therapeutic benefits, including cancer treatment, pain management and CNS disorders. In the cannabinoid field, Willow owns proprietary, yeast-based lab strains that produce CBD, tetrahydrocannabinol (THC) and cannabigerol (CBG), as well as certain minor and novel cannabinoids. For more information, visit the company’s website at www.WillowBio.com.
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