CBX.L Regulatory News (CBX)

Press release

28 April 2022

Cellular Goods PLC

('Cellular Goods' or 'the Company')

 First patent application filed for skin brightening innovation

Cellular Goods (LSE: CBX), a UK-based wellness company that provides premium consumer products formulated with lab-made cannabinoids, is pleased to announce the filing of its first patent application related to the use of cannabinoids for skin brightening.

Internal and external factors like hormonal changes during pregnancy and exposure to the sun can cause skin conditions such as melasma and hyperpigmentation, that can make the skin tone change and become uneven. Within the cosmetics and beauty industry, a number of products have been developed to help people achieve an even and brighter skin tone.

Most products in the skin brightening market rely primarily on active ingredients such as Vitamin C, exfoliating acids and hydroquinones that while effective in tackling melasma and hyperpigmentation, can cause skin irritation and sensitivity. This has created a need for new ingredients that are equally effective as the components in traditional skin brightening products, but that don't produce the uncomfortable side effects and have better tolerability for frequent use.

To tackle this challenge, Cellular Goods conducted scientific research to assess the potential of cannabinoids as skin brightening ingredients. The series of research, which involved in-vitro human tissue models, a well-established method for assessing the effectiveness of skin brightening ingredients, found that lab-made cannabinoids, namely cannabigerol ("CBG"), can improve the effectiveness of certain active ingredients used in traditional skin brightening products. These findings provide the basis for a new class of skin brightening solutions that can improve skin tone evenness associated with various factors, such as melasma and hyperpigmentation.

Cellular Goods has incorporated these findings into its patent application, 'Dermal Composition Comprising Cannabinoid and Derivatives Thereof', filed on 26 April 2022 with the UK Intellectual Property Office. This application is the first patent filed by the Company and is anticipated to form part of a wider patent portfolio driven by Cellular Goods' research into the wellness benefits of lab-made cannabinoids.

The Company has been using research to offer customers innovative products such as its Rejuvenating Cannabinoid Face Serum, the UK's first CBG-based serum to prevent the signs of aging caused by UV light exposure and inflammation.

Anna Chokina, CEO of Cellular Goods, said: "From having skin brightening properties, through to helping prevent the signs of aging caused by UV light exposure and inflammation, cannabinoids have a number of skincare benefits that we are only just starting to understand. The filing of this patent based on our own research is part of our efforts to help unveil the benefits of cannabinoids, as well as to develop science-backed innovations that can improve people's wellness. We look forward to contributing to the growing body of research on cannabinoids, particularly their skincare benefits, while also growing our patent portfolio."

Alexia Blake, Head of Research and Product Development at Cellular Goods, said: "We are proud to be developing the body of research on the skin brightening qualities of cannabinoids with the completion of our research and the filing of this patent. This work builds on our existing research involving lab-made cannabinoids, including the publication of a white paper on the potential benefits that cannabinoids can have for the skin by preventing the signs of aging caused by UV exposure and inflammation. We are committed to continuing to develop research that will help us better understand the unique benefits of cannabinoids and how to effectively leverage these benefits across our product offerings."

Forward looking statements

This announcement includes forward-looking statements which reflect the Company's or, as appropriate, the Directors' current views, interpretations, beliefs or expectations with respect to the Company's financial performance, business strategy and plans and objectives of management for future operations. These statements include forward-looking statements both with respect to the Company and the sector and industry in which the Company operates. Statements which include the words "expects", "intends", "plans", "believes", "projects", "anticipates", "will", "targets", "aims", "may", "would", "could", "continue", "estimate", "future", "opportunity", "potential" or, in each case, their negatives, and similar statements of a future or forward-looking nature identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties because they relate to events that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause the Company's actual results, prospects and performance to differ materially from those indicated in these statements. In addition, even if the Company's actual results, prospects and performance are consistent with the forward-looking statements contained in this document, those results may not be indicative of results in subsequent periods. These forward-looking statements speak only as of the date of this announcement. Subject to any obligations under the Prospectus Regulation Rules, the Market Abuse Regulation, the Listing Rules and the Disclosure and Transparency Rules and except as required by the FCA, the London Stock Exchange, the City Code or applicable law and regulations, the Company undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

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About Cellular Goods PLC:

Cellular Goods is a UK-based wellness company that provides premium products based on lab-made cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid-powered wellness products. The initial focus is on three product verticals: Function Better, Feel Better and Look Better. These three verticals encompass Cellular Goods' premium CBG skincare and CBD ingestible and topical athletic recovery products, with the first products launched in December 2021 initially through the Company's website. The Company's shares are listed on the main market of the London Stock Exchange. www.cellular-goods.com