VANCOUVER, BC, June 10, 2021 /CNW/ – Willow Biosciences Inc. (“Willow” or the “Company“) (TSX: WLLW) (OTCQX: CANSF), a biotechnology company producing ultra-pure, sustainably made compounds, and Cellular Goods PLC (“Cellular Goods“) (LSE: CBX), a U.K. based provider of premium consumer products based on biosynthetically made cannabinoids, are announcing today that the two companies have signed a multi-year supply agreement, whereby Willow will supply Cellular Goods with its proprietary, ultra-pure, biosynthetically produced, cannabigerol (“Willow CBG“) to be used in Cellular Goods’ premium cannabinoid-based skin care products to be launched in autumn of 2021.

The Company’s first shipment of Willow CBG to Cellular Goods is expected to arrive in July of this year.

In April 2021, Willow announced that it has completed a series of studies with its development partner, Signum Biosciences, Inc., that demonstrate the safety and anti-inflammatory, anti-aging, and antimicrobial properties of Willow CBG on human skin. These results, coupled with the sustainable and safe manufacturing nature of Willow’s manufacturing process, make Willow CBG an ideal core ingredient for cosmetics in the evolving regulatory landscape of the United Kingdom.

In May 2021, the European Commission declared that CBG had been added to the European Union cosmetic ingredients database (named “CosIng”), approving the compound as safe for use in personal care and cosmetics products. European manufacturers of personal care and cosmetics products can now use CBG in their products with the approval of a major market regulator for trade in the European Union.

Alexis Abraham, Cellular Goods Chief Executive Officer, said: “Successful products start with the best ingredients and being able to source consistent, highly-pure cannabinoids via cellular agriculture from a trusted provider like Willow is essential to our business. CBG is the most promising cannabinoid for skincare applications and we believe it will become a must have upgrade to people’s daily routines. Cellular Goods will be the first to bring a range to market in the United Kingdom built on our core principles of delivering efficacy-led and research-backed consumer cannabinoid products.”

Trevor Peters, Willow’s President & Chief Executive Officer, said: “We are very excited to announce our first commercial supply agreement for CBG. In just over two years we have gone from proof of concept in the lab to commercial scale up and sales of our first cannabinoid which will be slated for use in a consumer product. Cellular Goods are at the forefront, developing premium consumer cannabinoid products in the United Kingdom and we are thrilled to be supplying them with our ultra-pure, biosynthetically made CBG.”

About Cellular Goods PLC

Cellular Goods is a U.K.-based provider of premium consumer products based on biosynthetic cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid products. The initial focus is on two product verticals: premium skincare and topical athletic recovery products to be launched from this autumn. These will be made available through partnerships with leading online and physical retailers and direct to consumers through the Company’s website, www.cellulargoods.co.

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company that develops and produces high-purity, plant derived ingredients for consumer care, food and beverage, and pharmaceutical products. Willow’s manufacturing process creates a consistent, scalable and sustainable product that benefits industry and consumers. Willow’s team has a proven track record of developing and commercializing bio-based manufacturing processes and products for both the consumer and pharmaceutical industries.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and the Company’s assessment of future plans and operations, and, more particularly, statements concerning: timing of delivery of Willow’s CBG to Cellular Goods; timing of Cellular Goods’ cannabinoid-based skin care products launch; consumer demand for CBG; and the regulatory landscape for CBG in the United Kingdom and the European Union. When used in this news release, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company which include, but are not limited to: the success of Willow’s strategic partnerships, including the development of future strategic partnerships; the financial strength of the Company; the ability of the Company to fund its business plan using cash on hand and existing resources; the market for Willow’s products; the ability of the Company to obtain and retain applicable licences; the ability of the Company to obtain suitable manufacturing partners and other strategic relationships; and the successful implementation of Willow’s production strategy, generally. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with: the cannabinoid industry in general; the success of the Company’s research and development strategies; infringement on intellectual property; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; import/export and research restrictions for cannabinoid-based operations; the size of the medical-use and adult-use cannabinoid market; competition from other industry participants; adverse U.S., Canadian and global economic conditions; adverse global events and public-health crises, including the current COVID-19 outbreak; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s Annual Information Form and Management’s Discussion and Analysis for additional risk factors relating to Willow, which can be accessed either on Willow’s website at www.willowbio.com or under the Company’s profile on www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

SOURCE Willow Biosciences Inc.

For further information: please email [email protected]; visit our website at www.willowbio.com or contact: Trevor Peters, President and Chief Executive Officer, T: (403) 669-4848; Troy Talkkari, CFA, Vice President, Corporate Development, T: (403) 618-1117, 150, 2250 Boundary Road Burnaby, BC V5M 3Z3

Related Links

https://www.willowbio.com/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, BC, April 20, 2021 /CNW/ – Willow Biosciences Inc. (“Willow” or the “Company“) (TSX: WLLW) (OTCQX: CANSF) is pleased to announce that it has completed a series of studies with its development partner, Signum Biosciences, Inc., that demonstrate the safety and anti-inflammatory, anti-aging, and antimicrobial properties of Willow’s cannabigerol (“Willow CBG“). The studies demonstrate that Willow CBG is safe when applied to skin and eye areas and can act as a more potent antioxidant and anti-inflammatory for certain skin applications when compared to plant derived cannabidiol (“CBD“), as further described below.

“Demonstrating the safety and benefit of a new ingredient like Willow’s CBG is a critical step in commercialization and it’s one that we take seriously at the Company,” said Dr. Chris Savile, Willow’s Chief Operating Officer. “Willow’s CBG is now clinically tested to be safe for sensitive skin and demonstrated in the laboratory to act as a potent antioxidant, anti-inflammatory and anti-microbial. Most interestingly, Willow CBG was shown to be as potent or more potent than CBD, in some cases up to twice as potent, in the performed assays. We believe the clinical work on human skin and in vitro models with CBG are the first of their kind to be reported and we are very excited to share the results with our stakeholders and industry.”

The Studies

Willow CBG demonstrates a robust safety profile, showing no signs of skin irritation, eye irritation or phototoxicity, paving the way for its use in skin care. Based on the safety profile using these in vitro skin models, a Human Repeat Insult Patch Test clinical trial was performed on more than 100 volunteers where Willow CBG was demonstrated to be safe for sensitive skin. Willow’s activity tests utilizing Normal Human Epidermal Keratinocytes (NHEKs) and Human Dermal Fibroblasts (HDFs), demonstrate that Willow CBG possesses potent anti-inflammatory properties by inhibiting ultraviolet (UV) light and C. acnes-induced pro-inflammatory cytokine release. This data demonstrates the broad anti-inflammatory effect of Willow CBG against these different environmental stressors. Additional studies also indicate Willow CBG can act as an antioxidant as well as a strong antimicrobial against C. acnes and S. aureus, two bacterial strains shown to play a key role in the pathogenesis of acne and atopic dermatitis, respectively. These results demonstrate the utility of Willow CBG as an antimicrobial agent with similar potency as the broad-spectrum antibiotic doxycycline. Additional studies including gene array analysis on a 3D human skin models implicate collagen biosynthesis and skin brightening pathways as key Willow CBG targets.

Willow has been invited to present and discuss the full results of its findings at the upcoming Society for Investigative Dermatology (SID) meeting on May 3^rd to 8^th, 2021, and is pleased to share this data with prospective customers, partners, and shareholders. Willow plans to make the full data available on its website, www.willowbio.com, the morning of May 3^rd, 2021.

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company based in Vancouver, British Columbia that develops and produces high-purity, plant derived ingredients for consumer care, food and beverage, and pharmaceutical products. Willow’s manufacturing process creates a consistent, scalable, and sustainable product that benefits industry and consumers. Willow’s team has a proven track record of developing and commercializing bio-based manufacturing processes and products for both the consumer and pharmaceutical industries.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and the Company’s assessment of future plans and operations, and, more particularly, statements concerning: Willow’s milestone projections, including the timing of first sales and revenue generation; the safety and efficacy of Willow CBG, including the results of Signum Bioscience Inc.’s clinical testing on Willow’s CBG; the development and use of Willow CBG as a commercial skin care product; and the business plan of the Company, generally, including cannabinoid research and production. When used in this news release, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company which include, but are not limited to: the continued presence of the benefits and safety features of Willow CBG demonstrated in the studies; the success of Willow’s strategic partnerships, including the development of future strategic partnerships; the financial strength of the Company; the ability of the Company to fund its business plan using cash on hand and existing resources; the market for Willow’s products; the ability of the Company to obtain and retain applicable licences; the ability of the Company to obtain suitable manufacturing partners and other strategic relationships; and the successful implementation of Willow’s production strategy, generally. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with: the cannabinoid industry in general; the success of the Company’s research and development strategies; infringement on intellectual property; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; import/export and research restrictions for cannabinoid-based operations; the size of the medical-use and adult-use cannabinoid market; competition from other industry participants; adverse U.S., Canadian and global economic conditions; adverse global events and public-health crises, including the current COVID-19 outbreak; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the AIF and the MD&A for additional risk factors relating to Willow, which can be accessed either on Willow’s website at www.willowbio.com or under the Company’s profile on www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

SOURCE Willow Biosciences Inc.

For further information: For further information: please visit our website at www.willowbio.com or contact: Trevor Peters, President and Chief Executive Officer, T: (403) 669-4848, E: [email protected]; Troy Talkkari, CFA, Vice President, Corporate Development, T: (403) 618-1117, E: [email protected]; 150, 2250 Boundary Road, Burnaby, BC V5M 3Z3

Related Links

https://www.willowbio.com/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.