Last checked at 3 Aug 2023 07:00
3 August 2023
SEED Innovations Limited
("SEED" or the "Company")
Investee Company Update: Little Green Pharma Ltd
SEED Innovations Ltd, the AIM-quoted company investment company providing shareholders with exposure to early-stage health, wellness and medical cannabis companies to which, in normal circumstances, they have limited access to, is pleased to note an announcement released on the ASX by its portfolio company, Little Green Pharma Ltd ('LGP').
The Company owns 7,324,796 ordinary shares in LGP representing 2.45% of LGP's issued share capital.
LGP has announced its Desert Flame high THC (20%) medicinal cannabis flower product has been granted a Marketing Authorisation in Poland. The Company is scheduled to ship its first product from Australia in October 2023.
Highlights as reported by LGP:
· LGP's Desert Flame high THC medicinal cannabis flower product has been granted a Marketing Authorisation in Poland
· Marketing Authorisations are the sole pathway for supplying medicinal cannabis in Poland
· LGP's distribution partner Medezin S.p. z.o.o. ("Medezin"), will hold the Marketing Authorisation and distribute the product on a white-label basis in Poland
· Medezin is a subsidiary of the Pelion Group SA, the largest operator in the Polish and Lithuanian healthcare sectors,
· The first shipment is scheduled for October 2023
· With a predicted compound annual growth rate of 16%, LGP regards Poland as a highly prospective medicinal cannabis market
Alfredo Pascual, VP of Investment Analysis at SEED, commented: "While it's too early to assess the potential financial value of this market entry, the authorisation of LGP's high THC medicinal cannabis flower marks a significant milestone for LGP. With its predicted growth rate and, to my knowledge, a less saturated supplier landscape compared to countries like Germany or the UK, Poland offers a distinct advantage. This success underscores LGP's ability to penetrate high-entry-barrier markets. Furthermore, the robustness and credibility of LGP's local partner, as highlighted in LGP's recent announcement, further bolsters its position within the industry. With this development, LGP is well-positioned to not only pursue registration for more products within Poland but also to address similarly challenging entry barriers in other jurisdictions."
The announcement in full can be accessed from the following link: https://investor.littlegreenpharma.com/site/showdownloaddoc.aspx?AnnounceGuid=4d474829-7e88-4bd7-a5eb-950b408cc583&TE=alfredo@seedinnovations.co
- Ends -
For further information on the Company please visit: www.seedinnovations.co or contact:
Ed McDermott Lance de Jersey | SEED Innovations Ltd | E: info@seedinnovations.co
|
James Biddle Roland Cornish | Beaumont Cornish Limited, Nomad | T: (0)20 7628 3396
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Isabella Pierre Damon Heath | Shard Capital Partners LLP Broker | T: (0)20 7186 9927 |
Catherine Leftley Ana Ribeiro Isabelle Morris
| St Brides Partners Ltd, Financial PR | E: info@stbridespartners.co.uk |
Notes
Seed Innovations Ltd
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.
About Little Green Pharma
Little Green Pharma is a global, vertically integrated and geographically diverse medicinal cannabis 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 30 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.
Little Green Pharma 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.