Investee Company Update: Little Green Pharma Ltd

RNS Number : 2979T

Seed Innovations Limited

23 November 2021

 

Seed Innovations Ltd / AIM: SEED / Sector: Closed End Investments

23 November 2021

SEED Innovations Limited ("SEED" or the "Company")

Investee Company Update: Little Green Pharma Ltd

SEED Innovations Ltd, the AIM quoted company investing in fast growing and industry leading businesses with a focus on the medical cannabis, health and wellness space, is pleased to note an announcement by its portfolio company, Little Green Pharma Ltd ('LGP') which has been granted a product registration for its 'Billinol LGP' cannabis flower medicine by the Danish Medicines Agency. Billinol LGP is the first locally produced cannabis medicine in Denmark to receive product registration and will be cultivated and produced at LGP's Denmark Facility with LGP expecting to distribute its first products to patients before the end of the calendar year. SEED owns a holding of 7,324,796 ordinary shares in LGP representing 3.1% of LGP's issued share capital.

Alfredo Pascual, VP of Investment Analysis, commented: "I am delighted to see this recent announcement from LGP. I believe this has significant symbolic value being 'made in Denmark', by virtue of being the first Danish flower to be available to patients in Denmark, broadening access and proving that the local medical cannabis programme works not just to export but also domestically. The registration aligns with LGP's successful strategy of being first to market in key territories, enabling it to rapidly build a brand reputation for quality products and service with new market participants. "  

The announcement by LGP is set out below without material changes or adjustments:

23 November 2021

LGP secures first registration for locally produced cannabis medicine in Denmark

ASX Announcement

Highlights:

o  LGP Denmark granted registration for its "Billinol LGP" 16% THC cannabis flower medicine in Denmark

o  Billinol LGP will be the first locally produced cannabis medicine granted registration in Denmark, with LGP only the second supplier to have a registered flower medicine in country

o  The registration is aligned with Group strategy of being first to market in key territories, including Australia, France and Poland

o  The registration also gives LGP access advantages to Nordic markets under mutual recognition scheme

Little Green Pharma Ltd (ASX: LGP, "LGP" or the "Company") is pleased to announce it has been granted a product registration for its 16% THC "Billinol LGP" cannabis flower medicine by the Danish Medicines Agency.

The grant represents the culmination of a 2.5-year application process, with Billinol LGP being the first locally produced cannabis medicine in Denmark to receive product registration.

Billinol LGP will be cultivated and produced at LGP's Denmark Facility, with the Group expecting to distribute its first products to patients before the end of the calendar year. Currently, Bedrocan is the only other medicinal cannabis manufacturer supplying cannabis flower into Denmark, with no other cannabis-based medicines available other than Sativex, Epidiolex and compounded formulations.

The registration aligns with LGP's highly successful strategy of being first to market in key territories, enabling it to rapidly build a brand reputation for quality products and service with new market participants. LGP has successfully employed this strategy previously in Australia and France and expects to repeat it in Poland and now Denmark in the future. Under its registration, LGP is entitled to promote Billinol LGP in Denmark in the same manner as other registered medicines.

 Billinol LGP will be sold in 5-gram alubag pouches. Based on current publicly available data, cannabis flower medicines typically retail in Denmark for between DKK140 - 160 (A$29 - $32) per gram, compared to A$13 - $22 per gram in Australia.

The registration also gives the Group significant access to the 27 million people living in the Nordic region. Under mutual recognition agreements with Sweden, Norway and Finland, as well as through direct prescription by Danish prescribers, patients prescribed medicinal cannabis from these countries can access registered Danish cannabis medicines supplied by Danish distributors.

For further information please contact:

Alistair Warren Company Secretary Little Green Pharma E: [e-mail] T: [phone] Fleta Solomon Chief Executive Officer Little Green Pharma E: [e-mail] T: [phone]

About Little Green Pharma  

Little Green Pharma is a global, vertically integrated and geographically diverse medicinal cannabis and psychedelics business with operations from cultivation and production through to manufacturing and distribution.

The Company has two global production sites for the manufacture of its own-branded and white-label ranges of GMP-grade medicinal cannabis products, being a 21,500m2 cultivation and 4,000m2 GMP manufacturing facility capable of producing over 20 tonnes of medicinal cannabis biomass per annum located in Denmark (EU) and an indoor cultivation and manufacturing facility located in Western Australia capable of producing ~3 tonnes of medicinal cannabis biomass per annum. The Company is also licensed to supply psilocybin and is presently expanding its WA production facilities to produce psilocybin medicines.

Little Green Pharma cannabis products comply with all required Danish Medicines Agency and Therapeutic Goods Administration regulations and testing requirements. With a growing range of products containing differing ratios of active ingredients, Little Green Pharma supplies medical-grade cannabis products to Australian, European and overseas markets.

 The Company has a strong focus on patient access in the emerging global medicinal cannabis market and is actively engaged in promoting education and outreach programs, as well as participating in clinical investigations and research projects to develop innovative new delivery systems.

 For more information about Little Green Pharma go to: www.littlegreenpharma.com

*ENDS*

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

Ed McDermott / Lance de Jersey	SEED 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]
Catherine Leftley / Isabelle Morris	St Brides Partners Ltd, Financial PR	Email: s eed @stbridespartners.co.uk

Notes

SEED 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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