REG - Hellenic Dynamics - Agreement with The University of Patras

Hellenic DynamicsAnnouncement

19/12/2023 07:00

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RNS Number : 2152X  Hellenic Dynamics PLC  19 December 2023

19 December 2023

 

Hellenic Dynamics plc

("Hellenic Dynamics" or the "Company")

 

 

Agreement with The University of Patras

 

 

London, 19 December 2023, Hellenic Dynamics Plc (LSE: HELD), a medical
cannabis cultivator with a dedicated focus on producing tetrahydrocannabinol
("THC") dominant strains of medical cannabis flowers for the fast growing
European medical cannabis markets, announces that it has entered into a five
year memorandum of understanding ("MOU") with The University of Patras,
Greece.

 

Under the terms of the MOU, the Company and the Laboratory of Molecular
Pharmacology, Department of Pharmacy of The University of Patras intends to
enter into and collaborate to develop joint scientific research projects.  It
is Hellenic Dynamics' intention that the collaborative projects will focus on
cannabis-based molecules to be used for clinical trials with a view to
cultivate plants to be used by large pharmaceutical companies.

 

The Laboratory of Molecular Pharmacology is headed by Professor Evangelia
Papadimitriou who among other roles has served as Chairman of the Committee
for listing reimbursed medicinal products in Greece and has been a member of
various committees, including the Hellenic Central Board of Health (Ministry
of Health), in medicine-related matters. Evangelia is also served as a member
of the Hellenic Society of Basic and Clinical Pharmacology.

The primary areas of research of the Laboratory of Molecular Pharmacology,
headed by Professor Papadimitriou Evangeli, are focused on pharmacological
mechanisms that can be potentially targeted therapeutically, and play a role
in the pathophysiology of both endothelial cells and smooth muscle cells of
the arterial wall, as well as in physiological and cancer angiogenesis,
specifically tumour growth and anti-tumour activity.

 

Davinder Rai, CEO of Hellenic Dynamics, commented: "The Laboratory of
Molecular Pharmacology at The  University of Patras is well known for its
advanced research into cancer and into medical cannabis. This five year
agreement allows Hellenic Dynamics and its partners the opportunity to work
with The University of Patras on the advancement of cannabis-based molecules
through various stages of clinical trials with shared data.

 

It is intended that the partnership with The University of Patras will allow
Hellenic Dynamics to register for IP protection on specific strains of medical
cannabis that its partners may wish to conduct clinical trials with. Any
successful molecule wholesale production will be handled by the Company."

 

Evangelia Papadimitriou, Director of the Laboratory of Molecular Pharmacology, University of Patras, Commented: "The collaboration between Hellenic Dynamics and the University of Patras is expected to be the beginning of fruitful interactions that will lead to both academic achievements and potential new products for the benefit of patients."

 

 

The Directors of the Company take responsibility for this announcement.

 

Enquires:

 

 Hellenic Dynamics plc               +44 (0)20 3818 7850
 Davinder Rai                        davinder@hellenicdynamics.com

 Cairn Financial Advisers LLP        +44 (0)20 7213 0880
 Emily Staples / Jo Turner

 Peterhouse Capital                  +44 (0)20 7469 0930
 Lucy Williams / Charles Goodfellow

 

About Hellenic Dynamics plc

 
Founded in 2019, Hellenic Dynamics is specifically focused on the cultivation
and supply of THC ("tetrahydrocannabinol") - dominant strains of medical
cannabis flowers, destined for the growing medical cannabis markets
across Europe. Hellenic Dynamics' core strategy is to develop and operate its
40,000 square metre active cultivation licence from its 195,506 square metre
facility located near Thessaloniki in Northern Greece. In full production,
Hellenic Dynamics is capable of producing over 54,000 kg of dried flowers per
annum.
 
Hellenic Dynamics will take advantage of its relatively low cost base
resulting from a comparatively low cost of power, having its own running
water supply and the labour rates for skilled and semi-skilled labour in
Northern Greece.
 
26 European countries now allow medical cannabis via prescription and the
European cannabis market is expected to reach €17.39 billion per annum by
2028. Sales of Hellenic Dynamics' dried THC-dominant cannabis flowers and
extracts are initially intended for export into Europe's largest market -
Germany, in addition to other European markets including domestically in
Greece.

 
As the first medical cannabis cultivator to obtain a listing on the main
market for listed securities of the London Stock Exchange, Hellenic is
significantly different to the number of CBD (Cannabidiol) related companies
that have appeared over the recent years. Hellenic Dynamics cultivates
THC-dominant medical cannabis flowers. THC-dominant medical cannabis products
are only available via a medical prescription. Medicinal cannabis has been
approved for use both in the United Kingdom and Germany, plus 24 other
European countries, for conditions including but not limited to chronic pain,
intractable chemotherapy-related nausea, anxiety, insomnia,
Tourette's syndrome, substance use disorder, multiple sclerosis, IBS, spinal
cord treatment, lack of appetite due to HIV/AIDS, cachexia, anorexia and
glaucoma.

For further information please visit our website www.hellenicdynamics.com
(http://www.hellenicdynamics.com)

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

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