FastForward Innovations Limited EMMAC Life Sciences Update as at 9 April 2019 (6123V)
April 09 2019 - 3:35AM
UK Regulatory
TIDMFFWD
RNS Number : 6123V
FastForward Innovations Limited
09 April 2019
9 April 2019
FastForward Innovations Limited
("FastForward" or the "Company")
EMMAC Life Sciences Ltd Update
The Board of AIM-traded FastForward Innovations Limited, trading
under the symbol FFWD, ("FastForward", the "Company" or "FFWD"),
notes the following announcement released today at 7am by EMMAC
Life Sciences Ltd ("EMMAC") in which FFWD has a direct equity
holding of 2.6%.
EMMAC Life Sciences Ltd, the European independent medical
cannabis company, is pleased to announce completion of the
acquisition of the entire issued share capital of Rokshaw Limited
("Rokshaw"), a leading UK MHRA approved Specials manufacturer, by
EMMAC's UK subsidiary, EMMAC UK Limited. The acquisition brings
immediate revenues to EMMAC and enables the Company to import
medical cannabis into the UK to meet the growing demands of the
market, led by regulatory change, for premium medical cannabis
product.
Founded in 2012, Sunderland-based Rokshaw is a leading UK
laboratory, manufacturing a wide range of Specials bespoke to
patient requirements in an EU GMP environment to ensure that
patients across the UK receive the highest quality products.
Rokshaw has already manufactured more than 6,000 formulations for
over 2,000 pharmacies and hospitals across the UK.
Rokshaw's experienced team has extensive regulatory,
formulations, production and import capabilities and holds the
following licenses, MHRA Specials Manufacturing, Home Office
Controlled drugs schedule 2 and Wholesale dealers authorisation,
which ensure that compliant product can be imported and
manufactured in the UK in order to meet growing demands for
cannabis-based products for medicinal use (CBPMs). In addition to
the existing licenses, Rokshaw is pursuing additional licenses to
facilitate greater research into the benefits CBPMs.
Antonio Costanzo, CEO of EMMAC, commented: "We are delighted to
announce the acquisition of Rokshaw today. This investment not only
brings with it an immediate revenue stream but also provides EMMAC
immediate access to the UK medical cannabis market with the
opportunity to grow the existing 45 people-strong team into a
centre of medical cannabis excellence for the UK. Joining us are
the two founders of Rokshaw, Jonathan and Richard Hodgson, who have
significant and relevant experience of working in this highly
regulated industry as well as a proven track record of delivering a
high-quality product."
Jonathan and Richard Hodgson, co-founders of Rokshaw, said: "We
are really pleased to have joined EMMAC at this exciting stage of
its corporate development as we share its vision of becoming the
leading European independent medical cannabis company. We are
confident that the team here at Rokshaw can play an important role
in EMMAC achieving its goal through the provision of high-quality
product and services to patients across the UK, and by unlocking
the potential for the medical cannabis market to meet growing
clinician and patient demand."
Rokshaw is EMMAC's second GMP-certified lab and it will work in
close conjunction with Medalchemy, the Company's research and
development facility in Spain that was recently granted an
importation permit by Spanish authorities; this unique vertical
integration enabling EMMAC to control both the Active
Pharmaceutical Ingredient and Finished Good Manufacture. As part of
EMMAC, both facilities will uphold EMMAC's stated commitment to
delivering the highest quality medical cannabis product for the
European market.
Lorne Abony, CEO of FFWD, commented: "It is very pleasing to see
EMMAC complete another transaction and especially here in the
United Kingdom. The Board and I of FFWD believe wholeheartedly in
EMMACs strategy and acquisition completions only enhance our view
of the management team's ability. We look forward to receiving and
reporting on further additions to EMMACs growing portfolio and
operational success".
About EMMAC
EMMAC is the European medical cannabis company, working to join
together the latest science and research with cutting-edge
cultivation, extraction and production. With supply and
distribution partnerships throughout Europe, EMMAC is working to
establish itself as both a thought leader in the industry, as well
as the European leader in the production and supply of medical
cannabis, hemp and other derivative products.
For more information on EMMAC, please visit: www.emmac.com
For further information please visit www.fstfwd.co or
contact:
FastForward Innovations Limited info@fstfwd.co
Lance De Jersey/Ian Burns/Ed McDermott
Beaumont Cornish Limited (Nomad) Tel: +44 (0) 207 628 3396
James Biddle / Roland Cornish
Optiva Securities Limited (Broker) Tel: +44 (0) 203 411 1881
Jeremy King
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CAUTIONARY STATEMENT
The AIM Market of London Stock Exchange plc does not accept
responsibility for the adequacy or accuracy of this release. No
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has approved or disapproved the information contained herein. All
statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks
and uncertainties, including, without limitation, statements
regarding potential values, the future plans and objectives of
FastForward Innovations Ltd. There can be no assurance that such
statements will prove to be accurate, achievable or recognizable in
the near term.
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END
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