Willow Biosciences (TSX: WLLW) (OTCQX: CANSF) has contracted with a leading manufacturer to produce its first cannabinoid, cannabigerol (“CBG”); the first production run is slated for early 2021 and will result in commercial quantities of Willow’s ultra-pure CBG. The product will be manufactured in Europe. In addition, Willow announced plans to run a second 500-litre pilot this month in order to meet demand for customer samples and streamline the production process. These announcements mark significant progress for the company in its strategic commercialization plan. Based on progress so far, the company noted that it anticipates seeing revenue generated from this commercialization as early as Q2 2021, which is six months ahead of expectations. “Advancing to commercial-scale production is the final step in our transition to becoming a revenue generating company,” said Willow president and CEO Trevor Peters in the press release. “Our ability to begin this important milestone ahead of expectations is a testament to our exceptional scientific and commercially minded team. We are seeing strong interest in our CBG samples and are working closely to understand the needs of potential customers. Once our commercial scale multi-kilogram run is complete, Willow will be uniquely positioned to take advantage of what many industry experts are projecting to be a multi-billion dollar market.”
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About Willow Biosciences Inc.
Willow is a Canadian biotechnology company based in Vancouver, British Columbia , that produces high-purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is on the production of cannabinoids for the treatment for pain, anxiety, obesity and brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high-purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs. For more information about the company, please visit www.WillowBio.com.
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