RNS16 Oct 2020 10:02
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, we remain committed to working closely with the public and private healthcare sectors to help solve these barriers to access of cannabis-based medicines."