Investee Company Update: EMMAC Life Sciences

RNS Number : 3195N

FastForward Innovations Limited

19 May 2020

 

FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments

19 May 2020

FastForward Innovations Ltd

("FastForward", "FFWD" or the "Company")

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 on 19 May 2020 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')

EMMAC becomes first European cannabis company licensed to manufacture medical cannabis APIs with THC

Medalchemy, secures license for the manufacturing of medical cannabis APIs for commercial sale

19 May 2020, London. EMMAC Life Sciences Group, Europe's leading independent cannabis company, is pleased to announce that Medalchemy, the Group's GMP certified manufacturing site in Alicante, Spain, has secured approval from the Spanish Health Authorities ("AEMPS") to manufacture medical cannabis extracts as active pharmaceutical ingredients ("APIs"). The GMP license extension allows Medalchemy to manufacture medical cannabis APIs with delta 9-tetrahydrocannabinol ("THC") for commercial purposes, establishing EMMAC as the first European cannabis company to do so.

Medalchemy will commence the immediate production and distribution of a number of medical cannabis products across multiple jurisdictions in Europe and beyond as well as supplying white-label medical cannabis products. This landmark announcement supports EMMAC's business-to-business operations, expands its medical and wellness operations, and confirms its position as Europe's leading vertically integrated cannabis company, with full control of the supply chain.

Antonio Costanzo, CEO of EMMAC, said: "This is a landmark announcement for EMMAC, and is the realisation of our vision to create a vertically integrated multi-national operation. This milestone will position EMMAC as a trusted leader in the medical cannabis market in Europe and is testament to the continued innovation and excellence at Medalchemy, as we focus now on scaling production of our medical cannabis export to meet growing patient demand."

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About EMMAC Life Sciences Group

EMMAC Life Sciences Group is Europe's leading 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 please visit: www.emmac.com

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.

ENDS

For further information on the Company please visit www.fstfwd.co   or contact:

Ed McDermott / Lance de Jersey	FastForward Innovations Ltd	Email: [e-mail]
James Biddle / Roland Cornish	Beaumont Cornish Limited, Nomad	Tel: [phone]
Graham Dickson	Optiva Securities Limited, Broker	Tel: [phone]
Isabel de Salis / Beth Melluish	St Brides Partners Ltd, Financial PR	Tel: [phone]

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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