TIDMSEED
Seed Innovations Limited
23 November 2021
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
23 November 2021
SEED Innovations Limited ("SEED" or the "Company")
Investee Company Update: Little Green Pharma Ltd
SEED Innovations Ltd, 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 note an
announcement by its portfolio company, Little Green Pharma Ltd
('LGP') which has been granted a product registration for its
'Billinol LGP' cannabis flower medicine by the Danish Medicines
Agency. Billinol LGP is the first locally produced cannabis
medicine in Denmark to receive product registration and will be
cultivated and produced at LGP's Denmark Facility with LGP
expecting to distribute its first products to patients before the
end of the calendar year. SEED owns a holding of 7,324,796 ordinary
shares in LGP representing 3.1% of LGP's issued share capital.
Alfredo Pascual, VP of Investment Analysis, commented: "I am
delighted to see this recent announcement from LGP. I believe this
has significant symbolic value being 'made in Denmark', by virtue
of being the first Danish flower to be available to patients in
Denmark, broadening access and proving that the local medical
cannabis programme works not just to export but also domestically.
The registration aligns with LGP's successful strategy of being
first to market in key territories, enabling it to rapidly build a
brand reputation for quality products and service with new market
participants. "
The announcement by LGP is set out below without material
changes or adjustments:
23 November 2021
LGP secures first registration for locally produced cannabis
medicine in Denmark
ASX Announcement
Highlights:
o LGP Denmark granted registration for its "Billinol LGP" 16%
THC cannabis flower medicine in Denmark
o Billinol LGP will be the first locally produced cannabis
medicine granted registration in Denmark, with LGP only the second
supplier to have a registered flower medicine in country
o The registration is aligned with Group strategy of being first
to market in key territories, including Australia, France and
Poland
o The registration also gives LGP access advantages to Nordic
markets under mutual recognition scheme
Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is
pleased to announce it has been granted a product registration for
its 16% THC "Billinol LGP" cannabis flower medicine by the Danish
Medicines Agency.
The grant represents the culmination of a 2.5-year application
process, with Billinol LGP being the first locally produced
cannabis medicine in Denmark to receive product registration.
Billinol LGP will be cultivated and produced at LGP's Denmark
Facility, with the Group expecting to distribute its first products
to patients before the end of the calendar year. Currently,
Bedrocan is the only other medicinal cannabis manufacturer
supplying cannabis flower into Denmark, with no other
cannabis-based medicines available other than Sativex, Epidiolex
and compounded formulations.
The registration aligns with LGP's highly successful strategy of
being first to market in key territories, enabling it to rapidly
build a brand reputation for quality products and service with new
market participants. LGP has successfully employed this strategy
previously in Australia and France and expects to repeat it in
Poland and now Denmark in the future. Under its registration, LGP
is entitled to promote Billinol LGP in Denmark in the same manner
as other registered medicines.
Billinol LGP will be sold in 5-gram alubag pouches. Based on
current publicly available data, cannabis flower medicines
typically retail in Denmark for between DKK140 - 160 (A$29 - $32)
per gram, compared to A$13 - $22 per gram in Australia.
The registration also gives the Group significant access to the
27 million people living in the Nordic region. Under mutual
recognition agreements with Sweden, Norway and Finland, as well as
through direct prescription by Danish prescribers, patients
prescribed medicinal cannabis from these countries can access
registered Danish cannabis medicines supplied by Danish
distributors.
For further information please contact:
Alistair Warren Company Secretary Little Green Pharma E:
a.warren@lgp.global T: +61 8 6280 0050 Fleta Solomon Chief
Executive Officer Little Green Pharma E: f.solomon@lgp.global T:
+61 8 6280 0050
About Little Green Pharma
Little Green Pharma is a global, vertically integrated and
geographically diverse medicinal cannabis and psychedelics business
with operations from cultivation and production through to
manufacturing and distribution.
The Company has two global production sites for the manufacture
of its own-branded and white-label ranges of GMP-grade medicinal
cannabis products, being a 21,500m2 cultivation and 4,000m2 GMP
manufacturing facility capable of producing over 20 tonnes of
medicinal cannabis biomass per annum located in Denmark (EU) and an
indoor cultivation and manufacturing facility located in Western
Australia capable of producing 3 tonnes of medicinal cannabis
biomass per annum. The Company is also licensed to supply
psilocybin and is presently expanding its WA production facilities
to produce psilocybin medicines.
Little Green Pharma cannabis products comply with all required
Danish Medicines Agency and Therapeutic Goods Administration
regulations and testing requirements. With a growing range of
products containing differing ratios of active ingredients, Little
Green Pharma supplies medical-grade cannabis products to
Australian, European and overseas markets.
The Company has a strong focus on patient access in the emerging
global medicinal cannabis market and is actively engaged in
promoting education and outreach programs, as well as participating
in clinical investigations and research projects to develop
innovative new delivery systems.
For more information about Little Green Pharma go to:
www.littlegreenpharma.com
*ENDS*
For further information on the Company please visit www.seedinnovations.co or contact:
Ed McDermott SEED Innovations Email: info@seedinnovations.co
/ Ltd
Lance de
Jersey
James Biddle Beaumont Cornish Tel: +44 (0) 207
/ Limited, 628 3396
Roland Cornish Nomad
------------------- -------------------------------------
Isabella Shard Capital Tel: +44 (0)20 7186
Pierre / Partners LLP 9927
Damon Heath
------------------- -------------------------------------
Catherine St Brides Partners Email: s eed @stbridespartners.co.uk
Leftley / Ltd,
Isabelle Financial PR
Morris
------------------- -------------------------------------
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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END
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November 23, 2021 07:59 ET (12:59 GMT)
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