TIDMFFWD
FastForward Innovations Limited
16 October 2020
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
16 October 2020
FastForward Innovations Ltd ("FastForward" or, "FFWD")
Investee Company Update: EMMAC Life Sciences
FastForward Innovations Ltd, the AIM quoted company focusing on
making investments in fast growing and industry leading businesses,
is pleased to note the following announcement released today
concerning investee company EMMAC Life Sciences ('EMMAC').
FastForward has a 2.3% interest in the issued stock of EMMAC.
The announcement is set out below without material changes or
adjustments.
EMMAC Life Sciences Group
("EMMAC" or the "Group" or the "Company")
EMMAC Life Sciences Group announces UK manufacture of medical
cannabis
Completion of EMMAC's 'seed-to-sale' vertically integrated
supply chain
Unlicensed medical cannabis product range now more affordable
for patients in the UK
16 October 2020, London. EMMAC Life Sciences Group ("EMMAC" or
the "Group" or the "Company"), Europe's largest independent
cannabis company, is pleased to announce the UK manufacture of its
range of premium medical cannabis products. Due to the completion
of EMMAC's 'seed to sale' vertically integrated business model that
comprises cultivation, extraction, production and distribution,
medical cannabis is now more affordable for patients in the UK.
Rokshaw Laboratories ("Rokshaw"), EMMAC's wholly owned
subsidiary and a leading UK MHRA-approved Specials Manufacturer ,
received its first commercial shipment of medical cannabis Active
Pharmaceutical Ingredient ("API") from Medalchemy, the Group's Good
Manufacturing Practice ("GMP") certified manufacturing site in
Alicante, Spain. Medalchemy will begin exporting medical cannabis
API to other countries in the coming months.
Ed McDermott, Managing Director of EMMAC UK, said: "This is a
ground-breaking moment for the UK medical cannabis industry.
EMMAC's complete control of our supply chain, from cultivation and
extraction to manufacture and distribution, allows us to offer a
consistent, reliable and high-quality product in the UK at a price
point that has hitherto not been possible. Since our inception,
EMMAC has sought to address the challenges faced by patients and
clinicians in the UK, including availability of product and
accessibility of price, as identified in the 2019 NHS England
report: Barriers to accessing cannabis-based products for medicinal
use on NHS prescription. As always, w e remain committed to working
closely with the public and private healthcare sectors to help
solve these barriers to access of cannabis-based medicines."
The shipment also validates EMMAC's business model, as it is
proof that the vertically integrated supply chain, from its
cultivation facilities in Portugal to its two EU-GMP processing
facilities, laboratories and importation and distribution
capabilities in key markets across Europe, yields high-quality
product and the most competitive price points.
Antonio Costanzo, CEO of EMMAC, said: "This commercial shipment
of medical cannabis API from Medalchemy to Rokshaw is the result of
EMMAC achieving the vision we have had from the outset: to
establish Europe's leading medical cannabis company. Our vertically
integrated approach gives EMMAC complete control of our supply
chain, allowing us to offer consistency of product and price to
clinicians and patients across Europe in need of the
highest-quality medical cannabis without excessive costs ."
On 22 July 2020, EMMAC announced the Company had signed a
non-binding letter of intent related to a business combination with
Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, and ANDAU)
("Andina"), pursuant to which EMMAC would become a publicly traded
company on the NASDAQ Stock Exchange with EMMAC's shareholders
rolling over all of their equity in EMMAC into the combined public
company. As consideration for the transaction, it is anticipated
that the current EMMAC shareholders would collectively own a
majority of the equity of the combined public company.
- Ends -
About EMMAC Life Sciences Group
EMMAC Life Sciences Group is Europe's largest independent
cannabis company, bringing together pioneering science and research
with cutting-edge cultivation, extraction and production. With a
unique supply and distribution network throughout Europe, EMMAC's
vision is to bring the life-enhancing potential of cannabis to the
people who need it. For more information about EMMAC, please visit
https://www.emmac.com/ .
Contact:
For scientific enquiries please contact research@emmac.com
For general enquiries please contact info@emmac.com or visit
www.emmac.co m
CAUTIONARY STATEMENT
All statements, other than statements of historical fact, in
this news release are forward-looking statements that involve
various risks and uncertainties, including, without limitation,
statements regarding potential values, the future plans and
objectives of EMMAC Life Sciences Group. There can be no assurance
that such statements will prove to be accurate, achievable or
recognisable in the near term.
Actual results and future events could differ materially from
those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and
are expressly qualified in their entirety by this notice. EMMAC
Life Sciences Group assumes no obligation to update forward-looking
statements should circumstances or management's estimates or
opinions change.
ENDS
For further information on the Company please visit www.fstfwd.co or contact:
Ed McDermott / Lance FastForward Innovations Email: info@fstfwd.co
de Jersey Ltd
James Biddle / Roland Beaumont Cornish Limited, Tel: +44 (0) 207 628
Cornish Nomad 3396
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Isabella Pierre / Damon Shard Capital Partners Tel: (0)207 186 9927
Heath LLP
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Susie Geliher / Beth St Brides Partners Tel: +44 (0)207 236
Melluish Ltd, 1177
Financial PR
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Notes
FastForward 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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