TIDMSEED
Seed Innovations Limited
13 January 2022
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
13 January 2022
SEED Innovations Limited ("SEED" or the "Company")
Investee Company Update: Eurox Group
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 provide an
update on its portfolio company Eurox Group ("Eurox"), a
German-based, European vertically integrated medical cannabis
company, which has entered into an exclusive agreement with Orchid
Ventures Inc., a multi-state cannabis innovation company, on a
submission to German Authorities for approval of a premium medical
vaporizer device.
SEED has an 8.85% shareholding in Eurox.
The announcement by Orchid Ventures Inc is set out below without
material changes or adjustments:
Orchid Ventures Announces Partnership with Eurox Pharma GmbH on
Submission to German Authorities for Medical Device Approval
January 11, 2022
VANCOUVER, BC / ACCESSWIRE / January 11, 2022 / Orchid Ventures,
Inc. (the "Company" or "Orchid") (CSE:ORCD) (OTC PINK:ORVRF), a
multi-state cannabis innovation company, today announced it has
entered into an exclusive agreement with Eurox Pharma GmbH
("EUROX"), Germany based pharmaceutical company. Under the terms of
the agreement, Eurox, PurTec, and JWEI, the Company's OEM supplier
and partner, will submit one of PurTec's premium disposable
vaporizer devices to authorities in Germany for Medical Device
Approval. All three companies will be working in collaboration on
several requirements and safety studies to prove the efficacy and
safety of the device. The companies have already begun securing
various certifications to speed up the approval process. Once the
device is approved, Eurox will have exclusivity regarding sales and
distribution of the PurTec product in the European Union, United
Kingdom and Brazil.
The agreement marks PurTec's first project in Europe and
Internationally.
"After months of planning and strategizing, we are pleased to
announce our partnership with such an established group in Eurox."
said Corey Mangold, Founder, CEO and Chairman of Orchid. "We're
thrilled to join forces with Eurox and to be submitting one of our
most stringently tested vaping products for Medical Device Approval
with German health authorities. Once the product is accepted, this
will be a huge step forward in our ability to deliver one of the
first vaping products to patients and consumers in Germany along
with several other European countries. We are confident that with
the combined experience and expertise of Eurox and JWEI, we will
succeed in getting approval and be among one of the first vaporizer
products in-market and available to consumers throughout the
EU."
"We are excited about this partnership. We believe that PurTec
and JEWI will be valuable, long term partners that can help us
expand access to relevant and exciting new products that will
compliment our portfolio and advance our growth trajectory. Our
objective is to deliver with liquid vaping a controlled and
consistent therapy form to patients with need for inhaling in
Europe and beyond," said Dr. Bernhard Babel, Co-CEO of Eurox Pharma
GmbH.
About Eurox Pharma GmbH
Eurox is a German-based, European vertically integrated medical
cannabis company, with
-- German subsidiaries responsible for product development &
drug development & holding Intellectual Property,
-- A cultivation facility in Portugal to secure supply independence,
-- GMP production in a German GMP manufacturing facility
together with a German pharmaceutical partner,
-- A significant minority ownership in a UK registered medical cannabis clinic,
-- Strong distribution capabilities with its own sales team and
various high caliber distribution partnerships in Germany, other
European countries and Latam.
About Orchid Ventures
Orchid Ventures is a California-based cannabis innovation
company that has developed a mass-market brand and loyal consumer
following with its premium cannabis products and unique vape
hardware delivery systems. Orchid also owns 100% of PurTec Delivery
Systems, a company that produces, markets and sells clean vaporizer
hardware that has been emissions tested against the most stringent
standards in the world set forth by the EU and has unrivaled
product quality and value pricing. Orchid's management brings
significant branding, product development and distribution
experience with a proven track record of scaling businesses and
building sustainable revenue growth through value-generating
partnerships and innovation that creates enterprise value. Learn
more at https://purtecdesigns.com/
***ENDS***
For further information on the Company please visit
www.seedinnovations.co or contact:
Ed McDermott SEED Innovations E: info@seedinnovations.co
Lance de Jersey Ltd
James Biddle Beaumont Cornish T: (0)20 7628 3396
Roland Cornish Limited,
Nomad
------------------- -------------------------------
Isabella Pierre Shard Capital T: (0)20 7186 9927
Damon Heath Partners 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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END
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(END) Dow Jones Newswires
January 13, 2022 02:00 ET (07:00 GMT)
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