Investee Company Update: EMMAC Life Sciences

RNS Number : 2594C

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 [e-mail]

For general enquiries please contact [e-mail] 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 de Jersey	FastForward Innovations Ltd	Email: [e-mail]
James Biddle / Roland Cornish	Beaumont Cornish Limited, Nomad	Tel: [phone]
Isabella Pierre / Damon Heath	Shard Capital Partners LLP	Tel: [phone]
Susie Geliher / 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.

 

END

 

 

NRAFFUFMIESSESS