Response to FSA-FSS Cannabidiol Safety Assessment

Ananda Developments PLC

02 May 2024

 

 02 May 2024

ANANDA DEVELOPMENTS PLC

("Ananda" or the "Company")

Response to FSA-FSS Cannabidiol Safety Assessment

Ananda Developments plc (AQSE: ANA), a company focused on becoming a leading provider of regulator approved CBD-based medicines for chronic pain conditions, notes the Food Standards Agency's (FSA) and Food Standards Scotland's (FSS) recently published Safety Assessment: "Cannabidiol (CBD) isolate as a novel food for use in a range of food categories including food supplements".

Ananda believes that the FSA-FSS assessment underscores its strategy of developing CBD formulations as licensed medicines, with Randomised Controlled Trials evidence, to allow for accurate and potentially higher doses. With the FSA-FFS paper advocating for a maximum daily intake of 10mg of CBD in food supplements, it is likely that therapeutic doses of CBD may solely be accessible for the majority of people through NHS prescription.

Ananda's patent pending MRX1 CBD formulation will be trialled in two Phase II trials, investigating the pain relieving effects of MRX1 on sufferers of endometriosis and Chemotherapy Induced Peripheral Neuropathy ("CIPN"), which demonstrate how Ananda's strategy aligns with the FSA's recommendations.

Ananda CEO, Melissa Sturgess, commented: "We identified several years ago that the right path to build shareholder value in the CBD space is via clinical trials, evidence and regulatory approvals. This latest FSA-FSS report highlights that we were correct in our assessment, and we look forward to delivering the results of our clinical trials and further initiatives in this area."

Read the assessment in full here: https://www.food.gov.uk/sites/default/files/media/document/safety-assessment-cannabidiol-isolate-as-a-novel-food.pdf

For more information please contact: InvestorHub Engage with us directly at Ananda Developments Investor Hub	Sign up at https://investors.anandadevelopments.com/s/a66906
ANANDA DEVELOPMENTS PLC Chief Executive Officer Melissa Sturgess Executive Director Jeremy Sturgess-Smith	[phone] [e-mail]
SP ANGEL CORPORATE FINANCE LLP Corporate Finance Richard Morrison Caroline Rowe	[phone]
Corporate Broking Abigail Wayne Rob Rees
Yellow Jersey PR Charles Goodwin Zara McKinlay	[phone]

About Ananda Developments

Ananda is an AQSE-listed company whose ambition is to be a leading provider of cannabinoid-based

medicines for the treatment of complex, chronic inflammatory pain conditions.

For further information on the Company visit https://anandadevelopments.com/ or sign up at https://investors.anandadevelopments.com/s/a66906.

https://investors.anandadevelopments.com/link/Dexlke

 

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