The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Willow completed its first commercial scale fermentation run of its first cannabinoid, CBG, in Q1 2021 and signed up its first multi year commercial agreement with Cellular Goods in Q2 2021. This agreement was a significant turning point in the lifecycle of the Company as it demonstrates that Willow has the full technical and business development capabilities to meet customer demands. During the remainder of 2021, Willow plans to continue to optimize its commercial process for CBG, supply product to customers, seed commercial samples to new potential customers, and build out a robust order book for 2022, which the Company expects to be its first full year of commercial production and sales. CBG is a rare cannabinoid and Willow is at the forefront of developing that market.
GRAS for food and drink. You see where this is going for the athletic products.
Operational Update
In March 2021, Willow completed its first commercial scale fermentation run of cannabigerol ("CBG") with its manufacturing partner at their European facilities. The product from this first run was primarily used for customer samples and to provide material to Cellular Goods PLC ("Cellular Goods") as a part of their June 2021 supply agreement. Since this initial production run, Willow has increased its production titer by >400% and has carried out additional fermentation runs yielding tens of kilograms of ultra-pure CBG at >10,000 L fermentation scale. The Company continues to make significant titer improvements to its strain, with further production runs planned through the end of the year.
As stated previously, Willow has also engaged a regulatory consulting group to attain an Independent Generally Recognized as Safe ("GRAS") conclusion for Willow CBG that is required for use in food and beverage applications and continues this process which will be completed in 2022
Willy66 - small scale partners you say ? Really ?
On September 21, 2021, Willow announced that it had increased its production titer by >400% and has carried out additional fermentation runs yielding tens of kilograms of ultra-pure CBG at >10,000 L fermentation scale, since its first commercial scale run in March of 2021.
On September 21, 2021, Willow announced that it had developed a process for production of ultrapure cannabigerolic acid ("CBGA"). Samples are available for customer assessment and product development.
During the quarter, Willow added fermentation capacity to its lab in Burnaby, British Columbia, and subsequent to the quarter, the Company's wholly owned subsidiary, Willow Analytics, received a cannabis research license from Health Canada to operate in this expanded portion of its lab.
Willow ended the quarter with strong liquidity, including approximately $35.7 million of cash on hand as at September 30, 2021
Boots ?
Distribution is being carried out by Huboo Technologies.https://www.huboo.com/?utm_source=google&utm_medium=ads&utm_campaign=huboo&utm_content=ad1&utm_term=huboo%20technologies&gclid=CjwKCAiAwKyNBhBfEiwA_mrUMrWCWXZdT_iPXWMq2TaeA4fOqx2GwgHzLz1hDxnbE66pCYG61gy9VhoCgfkQAvD_BwE