NetworkNewsBreaks – Willow Biosciences Inc. (TSX
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Posted On: 12/16/2020 4:08:44 PM
NetworkNewsBreaks – Willow Biosciences Inc. (TSX: WLLW) (OTCQX: CANSF) Announces Progress in Commercialization Plan with Initial Product Expected in Q1 2021
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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