Seed Innovations Limited Investee Company Update: Eurox Group
02 Novembro 2021 - 4:00AM
RNS Non-Regulatory
TIDMSEED
Seed Innovations Limited
02 November 2021
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
2 November 2021
SEED Innovations Limited ("SEED" or the "Company")
Investee Company Update: Successful Start of Eurox's Dronabinol
Sales
SEED Innovations Limited, the AIM quoted company investing in
fast growing and industry leading businesses with a focus on the
medical cannabis, health and wellness space, is pleased to provide
an update on its portfolio company Eurox Group ("Eurox"), a
German-based, European vertically integrated medical cannabis
company.
SEED is pleased to note that Eurox has successfully started
sales in Germany to a number of select customers of dronabinol, the
primary psychoactive compound in cannabis also known
Delta-9-tetrahydrocannabinol (<DELTA>9-THC).
Sales of <DELTA>9-THC represents a new revenue stream for
Eurox, which follows the distribution agreement of Eurox's
full-spectrum extracts to pharmacies during the previous calendar
quarter.
SEED has an 8.85% shareholding in Eurox.
Highlights:
-- Eurox has reached a new milestone, starting white label sales
of <DELTA>9-THC to several select corporate customers.
-- Dronabinol preparations, primarily used in pain therapy, have
been available under prescription in Germany since 1998 and
currently represents a substantial part of the German medicinal
cannabis market.
-- The dronabinol product category has far fewer suppliers
competing for the German market than the case of cannabis flower or
full-spectrum extracts.
Ed McDermott, CEO of SEED, commented: "I am encouraged to see
that Eurox continues making material progress, broadening revenue
streams and generating sales in segments of the medical cannabis
market with high-entry barriers.
"As we had anticipated would be the case, we are very excited to
see Eurox continue to expand the availability and range of their
medical cannabis range."
Bernhard Babel, co-Managing Director of Eurox, commented: " Our
goal has always been to increase our portfolio of products so I am
very proud to announce that we have successfully started dronabinol
sales to high calibre corporate customers which will subsequently
sell it to pharmacies."
About Eurox Group
Eurox is a German-based, European vertically integrated medical
cannabis company with:
-- Fully owned German subsidiaries responsible for product
development, holding IP and commercial relationships.
-- An exclusive, long-term contract and manufacturing agreement
for cannabis products with Dr. Reckeweg & Co. GmbH ("Dr
Reckeweg"), a EU GMP certified German pharmaceutical company with
75+ years of experience manufacturing plant-based medicinal
products.
-- A fully-owned Portuguese subsidiary with a provisional
license (often called "pre-license") granted by INFARMED, the
Portuguese National Authority of Medicines and Health Products.
Eurox Portugal is currently building its cultivation facility to
secure vertical integration and long-term supply independence.
-- A significant minority ownership of Integro Medical Clinics,
a London Care Quality Commission (CQC) registered medical cannabis
clinic.
For more information on Eurox, visit
https://www.eurox-pharma.com
***ENDS***
For further information on the Company please visit
www.seedinnovations.co or contact:
Ed McDermott SEED Innovations Ltd E: info@seedinnovations.co
Lance de Jersey
James Biddle Beaumont Cornish Limited, T: (0)20 7628 3396
Roland Cornish Nomad
-------------------------- -------------------------------
Isabella Pierre Shard Capital Partners T: (0)20 7186 9927
Damon Heath LLP
Broker
-------------------------- -------------------------------
Catherine Leftley St Brides Partners E: info@stbridespartners.co.uk
Isabelle Morris Ltd,
Financial PR
-------------------------- -------------------------------
Notes
SEED Innovations is an AIM quoted investment company focused
primarily on disruptive high growth life sciences and technology
businesses particularly within the medical cannabis arena. The
Company's strategy is to identify early-stage opportunities that
have an upcoming investment catalyst and grow its portfolio in
terms of value whilst limiting the number of investee companies to
a level where relevant time can be devoted to each.
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