Ananda Developments - Ananda joins cannabinoid R&D Group

31 May 2024

ANANDA DEVELOPMENTS PLC

("Ananda" or the "Company")

Ananda Developments joins new taskforce set to establish the UK as a global leader in Cannabinoid Science

Ananda developments plc (AQSE: ANA), a company focused on becoming a leading provider of regulator approved CBD-based medicines for chronic inflammatory pain conditions is pleased to announce that it is a founding member of the Cannabinoid Research and Development Group, established and co-Chaired by George Freeman MP and Professor Trevor Jones.

The group will develop and execute a strategy to establish the UK as a global leader in R&D in cannabinoid science by building a robust ecosystem - integrating universities, research institutions, investors, businesses, and the NHS, to advance the understanding of cannabis and its derivatives. 

The UK Cannabinoid Research and Development Group (CRDG) will produce the country's first comprehensive strategy for cannabinoid research and development filling a gap that has existed since cannabis was rescheduled for medical use in 2018. 

At present, only three cannabis-based medicines have been approved for prescription in the UK. Two of these are produced by a company of UK origin. The vast majority of cannabis-based products for medical use (CBPMs) prescribed in the UK are unlicensed via the 'specials' route and administered by private sector clinics. Ananda is focused on classical randomised controlled trials to develop CBD-based medicines to achieve marketing authorisation and NHS support.

The group will be consulting on its plans in the coming months with a view to producing its first strategy paper to the new government in July.

Ananda CEO, Melissa Sturgess, commented: "Ananda Developments is pleased to be part of this taskforce and contribute to creating a robust framework for scientific exploration and drug development which benefits the UK and the global cannabis industry. The CRDGs focus on randomised controlled trials (RCTs) supports Ananda's classical drug discovery approach to CBD based medicines, and we are confident that the group will work to create a joined-up framework for research and development in the sector."

Read the announcement in full here:

https://crdg.uk/2024/05/28/george-freeman-mp-leads-new-taskforce-to-establish-the-uk-as-a-global-leader-in-cannabinoid-science/

About Ananda Developments

Ananda is an AQSE-listed company whose ambition is to be a leading provider of cannabinoid-based

medicines for the treatment of complex, chronic inflammatory pain conditions.

For further information on the Company visit https://anandadevelopments.com/ or sign up at https://investors.anandadevelopments.com/s/a66906.

https://investors.anandadevelopments.com/link/peggNe