TIDMHELD
RNS Number : 2152X
Hellenic Dynamics PLC
19 December 2023
19 December 2023
Hellenic Dynamics plc
("Hellenic Dynamics" or the "Company")
Agreement with The University of Patras
London, 19 December 2023 , Hellenic Dynamics Plc (LSE: HELD), a
medical cannabis cultivator with a dedicated focus on producing
tetrahydrocannabinol ("THC") dominant strains of medical cannabis
flowers for the fast growing European medical cannabis markets,
announces that it has entered into a five year memorandum of
understanding ("MOU") with The University of Patras, Greece.
Under the terms of the MOU, the Company and the Laboratory of
Molecular Pharmacology, Department of Pharmacy of The University of
Patras intends to enter into and collaborate to develop joint
scientific research projects. It is Hellenic Dynamics' intention
that the collaborative projects will focus on cannabis-based
molecules to be used for clinical trials with a view to cultivate
plants to be used by large pharmaceutical companies.
The Laboratory of Molecular Pharmacology is headed by Professor
Evangelia Papadimitriou who among other roles has served as
Chairman of the Committee for listing reimbursed medicinal products
in Greece and has been a member of various committees, including
the Hellenic Central Board of Health (Ministry of Health), in
medicine-related matters. Evangelia is also served as a member of
the Hellenic Society of Basic and Clinical Pharmacology.
The primary areas of research of the Laboratory of Molecular
Pharmacology, headed by Professor Papadimitriou Evangeli, are
focused on pharmacological mechanisms that can be potentially
targeted therapeutically, and play a role in the pathophysiology of
both endothelial cells and smooth muscle cells of the arterial
wall, as well as in physiological and cancer angiogenesis,
specifically tumour growth and anti-tumour activity.
Davinder Rai, CEO of Hellenic Dynamics, commented : " The
Laboratory of Molecular Pharmacology at The University of Patras is
well known for its advanced research into cancer and into medical
cannabis. This five year agreement allows Hellenic Dynamics and its
partners the opportunity to work with The University of Patras on
the advancement of cannabis-based molecules through various stages
of clinical trials with shared data.
It is intended that the partnership with The University of
Patras will allow Hellenic Dynamics to register for IP protection
on specific strains of medical cannabis that its partners may wish
to conduct clinical trials with. Any successful molecule wholesale
production will be handled by the Company."
Evangelia Papadimitriou, Director of the Laboratory of Molecular
Pharmacology, University of Patras, Commented: " The collaboration
between Hellenic Dynamics and the University of Patras is expected
to be the beginning of fruitful interactions that will lead to both
academic achievements and potential new products for the benefit of
patients."
The Directors of the Company take responsibility for this
announcement.
Enquires:
Hellenic Dynamics plc +44 (0)20 3818 7850
Davinder Rai davinder@hellenicdynamics.com
Cairn Financial Advisers LLP +44 (0)20 7213 0880
Emily Staples / Jo Turner
Peterhouse Capital +44 (0)20 7469 0930
Lucy Williams / Charles Goodfellow
About Hellenic Dynamics plc
Founded in 2019, Hellenic Dynamics is specifically focused on
the cultivation and supply of THC ("tetrahydrocannabinol") -
dominant strains of medical cannabis flowers, destined for the
growing medical cannabis markets across Europe. Hellenic Dynamics'
core strategy is to develop and operate its 40,000 square metre
active cultivation licence from its 195,506 square metre facility
located near Thessaloniki in Northern Greece. In full production,
Hellenic Dynamics is capable of producing over 54,000 kg of dried
flowers per annum.
Hellenic Dynamics will take advantage of its relatively low cost
base resulting from a comparatively low cost of power, having its
own running water supply and the labour rates for skilled and
semi-skilled labour in Northern Greece.
26 European countries now allow medical cannabis via
prescription and the European cannabis market is expected to reach
EUR17.39 billion per annum by 2028. Sales of Hellenic Dynamics'
dried THC-dominant cannabis flowers and extracts are initially
intended for export into Europe's largest market - Germany, in
addition to other European markets including domestically in
Greece.
As the first medical cannabis cultivator to obtain a listing on
the main market for listed securities of the London Stock Exchange,
Hellenic is significantly different to the number of CBD
(Cannabidiol) related companies that have appeared over the recent
years. Hellenic Dynamics cultivates THC-dominant medical cannabis
flowers. THC-dominant medical cannabis products are only available
via a medical prescription. Medicinal cannabis has been approved
for use both in the United Kingdom and Germany, plus 24 other
European countries, for conditions including but not limited to
chronic pain, intractable chemotherapy-related nausea, anxiety,
insomnia, Tourette's syndrome, substance use disorder, multiple
sclerosis, IBS, spinal cord treatment, lack of appetite due to
HIV/AIDS, cachexia, anorexia and glaucoma.
For further information please visit our website
www.hellenicdynamics.com
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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END
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December 19, 2023 02:00 ET (07:00 GMT)
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