TIDMSEED
RNS Number : 5247A
Seed Innovations Limited
23 January 2024
23 January 2024
SEED Innovations Limited
("SEED" or the "Company")
Investee Company Update: Avextra AG
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 the
announcement released by its portfolio company, Avextra AG
('Avextra'), a German-based, European vertically integrated medical
cannabis company.
SEED remains a holder of 2,242 shares in Avextra representing
approximately 3% of Avextra on a fully diluted basis.
The following extract from the announcement is set out without
material changes or adjustments and the announcement in full can be
accessed from the following link:
https://avextra.com/en/2024/01/avextra-invests-up-to-15-million-euros-in-the-development-of-new-medical-cannabis-research-in-partnership-with-iucs-cespu/
Start of Avextra AG announcement:
AVEXTRA invests up to 15 million euros in the development of new
medical cannabis research in partnership with IUCS-CESPU
Strategic partnership deepens Research & Development of
medicinal cannabis in areas such as clinical trials, development of
medical devices, and extraction methodologies.
Avextra will actively participate in the supervision of master's
and doctoral programs in Biomedical Sciences and Toxicology at
IUCS-CESPU.
Investment supported by Iberis Capital, the largest individual
shareholder of Avextra.
Lisbon, January 17th, 2024 - Avextra, the leading German
manufacturer of cannabis-based medicines, has entered a strategic,
long-term partnership with the Instituto Universitário de Ciências
da Saúde-Cooperativa de Ensino Superior Politécnico e Universitário
(IUCS-CESPU) focused on Research & Development (R&D) of
regulator approved medicines based on the cannabis plant.
This agreement will be leveraged by an investment by Avextra of
up to 15 million euros over five years, substantially supported by
Iberis Capital, Portuguese private equity and the company's largest
individual shareholder, with the potential for even greater
investment in R&D depending on the research results. This is a
major investment into research and pharmaceutical development with
medical cannabis in Portugal. With an investment of nine million
euros in Avextra, Iberis Capital has become an essential partner of
the German company which completed an R&D center in Grândola in
2022.
Specifically, Avextra and IUCS-CESPU, through its 1H-TOXRUN
research unit, will coordinate and manage R&D activities in
various areas such as clinical trials, medical device development,
extraction methodologies, and other groundbreaking initiatives and
provide invaluable scientific support. This strategic partnership
will enable Avextra's Alliance for Evidence-based Cannabis Medicine
to advance to a new level of scientific excellence.
As part of the agreement Avextra will support and actively
participate at IUCS-CESPU in the supervision of master and PhD
students in Biomedical Sciences and Toxicology and foster
cutting-edge pharmaceutical research with cannabis-based and
psilocybin-based medicines.
"Avextra's Alliance for Evidence-Based Cannabis Medicine moves
into the next phase with our partnership with IUCS-CESPU. With our
shared commitment to cutting-edge pharmaceutical research with
cannabis-based medicines, we will address significant unmet patient
need across the European Union with innovative and regulator
approved medicines " stated Dr. Bernhard Babel, CEO of Avextra.
Professor Ricardo Dinis-Oliveira, from IUCS-CESPU commented: "It
is the union of efforts that makes us unique. We want to invest our
unique resources into unlocking the therapeutic potential of the
cannabis plant and psilocybin through combining the capacity of
professionals from a Research Unit dedicated to the study of One
Health & Toxicology (1H-TOXRUN - One Health Toxicology Research
Unit) and the power of knowledge of the academic environment of the
University Institute of Health Sciences, with the rigor and
innovation in Research and Development of Avextra AG".
Luís Quaresma, partner at Iberis Capital explained: "We are
proud to be actively involved in Avextra's growth, accompanying it
on the path that will make it a leading European medical cannabis
company. We look forward to seeing the results of this strategic
partnership that AvextraA has entered into with IUCS-CESPU and
1H-TOXRUN, which brings Portuguese talent to the forefront of this
sector's evolution."
-Ends-
For further information on the Company please visit: www.seedinnovations.co or contact:
Ed McDermott SEED Innovations E: info@seedinnovations.co
Lance de Ltd
Jersey
James Biddle Beaumont Cornish T: (0)20 7628 3396
Roland Cornish Limited,
Nomad
------------------- -------------------------------
Isabella Shard Capital T: (0)20 7186 9927
Pierre Partners LLP
Damon Heath Broker
------------------- -------------------------------
Ana Ribeiro St Brides Partners E: seed@stbridespartners.co.uk
Isabelle Ltd,
Morris Financial PR
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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 Avextra AG
Avextra is one of Europe's leading vertically integrated
suppliers of high-quality cannabis-based medicines. Founded in 2019
and based out of Germany, the company focuses on the production of
precisely formulated cannabis-based medicines. Avextra controls the
entire value chain - from cultivation in Portugal to EU-GMP
certified extraction and manufacturing in Germany. Avextra operates
across continental Europe through an expansive distribution network
of multiple channels and assets strategically developed for these
key markets.
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END
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