REG - Seed Innovations Ltd - Investee Company Update: Avextra AG

Seed InnovationsAnnouncement

23/01/2024 07:00

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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/
(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
(http://www.seedinnovations.co/)  or contact:

 Ed McDermott      SEED Innovations Ltd         E: info@seedinnovations.co

 Lance de Jersey
 James Biddle      Beaumont Cornish Limited,    T: (0)20 7628 3396

 Roland Cornish    Nomad
 Isabella Pierre   Shard Capital Partners LLP   T: (0)20 7186 9927

 Damon Heath       Broker
 Ana Ribeiro       St Brides Partners Ltd,      E: seed@stbridespartners.co.uk

 Isabelle Morris   Financial PR

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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