Ananda Pharma PLC - Appointment of Chris Tovey, GW Pharma Former COO

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF UNITED KINGDOM DOMESTIC LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 8 April 2025

ANANDA PHARMA PLC 

("Ananda" or the "Company") 

Appointment of Chris Tovey, GW Pharmaceuticals' Former COO

Ananda Pharma plc (AQSE: ANA), a UK-based biopharmaceutical company developing regulatory approved cannabinoid medicines to treat complex, chronic conditions, is very pleased to announce the appointment of Mr. Chris Tovey, ex-COO of GW Pharmaceuticals plc ("GW") and Jazz Pharmaceuticals plc ("Jazz"), as an advisor to the Company.

Highlights

·    GW achieved the first ever regulatory approval for a naturally derived cannabidiol medicine in the US, UK and Europe.

·    Chris was COO of GW Pharma when it was acquired by Jazz Pharmaceuticals for $7.2bn, globally the largest strategic cannabis exit to date

·    Post GW's acquisiton by Jazz, Chris was appointed COO of Jazz

·    Executive leader at GW through its NASDAQ IPO and subsequent significant capital raisings (>$1bn over 8 years)

·    Key executive who led the operational growth of GW, including commercial expansion, manufacturing, technology and staffing

·    To view the supporting video by Charles Morgan, Chairman of Ananda and to ask questions please go to our Hub:https://investors.anandapharma.co.uk/link/NPwkAP

·    Q&A webinar by CEO Melissa Sturgess to be held on Friday 11^th April at 12.30p.m. BST: https://investors.anandapharma.co.uk/webinars/0y5Rxe-chris-tovey-appointment-q-a

Chris Tovey was a key member of the leadership team at GW Pharmaceuticals plc ("GW"), the world's first pharmaceutical company to pursue and successfully secure FDA, EMA and MHRA approval for a CBD medicine that is now approaching Blockbuster (more than $1bn of annual revenues) status. He joined GW as an Executive Board Director and COO in 2012, and played a critical role taking GW from its IPO on NASDAQ in 2013 through to its acquisition by Jazz Pharmaceuticals for $7.2 billion in 2021: the largest strategic exit transaction in the cannabinoid industry to date.

Given Mr. Tovey's prior experience he will help guide Ananda's corporate, operational, commercial and drug development programmes. Working closely with the Ananda Board and Senior Management, he will support the build-out of its best-in-class team to deliver a regulatory approved CBD based medicine to patients and the market. It is expected that Mr. Tovey will join Ananda's Board in due course. To align his interests with shareholders, a total of 50,000,000 options have been granted for  ordinary shares of £0.002 each in the capital of the Company ("Ordinary Shares") to Mr Tovey, subject to certain vesting and performance conditions, all with a 10-year life. The options have an exercise price of 0.44 pence, being the 7 day VWAP preceeding his appointment as a consultant. Conditional upon being appointed a director of the Company, Mr. Tovey would be granted options over up to a further 75,000,000 Ordinary Shares.

Ananda's Chairman and largest shareholder, Charles Morgan commented: "We are honoured to have Chris join Ananda. Securing his services allows us to benefit from his unique experience gaining the first-ever FDA and EMA approvals for a CBD medicine, and his input will help us achieve our ambition of getting a regulatory approved CBD medicine to market faster and at a lower cost than would otherwise be the case.  Mr. Tovey's senior level experience at GW will be invaluable and his commitment to Ananda is a vote of confidence in our approach and our team."

Chris Tovey commented: "It is my sincere belief that there is still much unfinished business for cannabinoid based medicines and Ananda is the only company I have come across that is approaching this opportunity properly.  I believe they are well placed to replicate what we did at GW, in different indications. The opportunities for significant revenues with regulatory approved cannabinoid medicines are huge and Ananda is well placed to create best-in-class products to make a significant difference for patients."

Melissa Sturgess, CEO, will give a live Q&A session about Chris joining Ananda via the Company's InvestorHub on 11^th April 2025 at 12.30p.m. BST. The Q&A session is open to all existing and potential shareholders. Questions can be submitted pre-event via the webinar page up until 10^th April 2025 at 5.00p.m. BST, or at any time during the live presentation.

Investors can sign up to the webinar for free via: https://investors.anandapharma.co.uk/webinars/0y5Rxe-chris-tovey-appointment-q-a

About Ananda Pharma

Ananda Pharma (AQSE: ANA) is a UK-based biopharmaceutical company developing regulatory approved, cannabinoid medicines to treat complex, chronic conditions, including epilepsy (trials funded by NHS England and NIHR), endometriosis (funded by NHS Scotland) and chemotherapy pain (funded by NIHR).  The Company is led by successful entrepreneurs and is working with a team of world-class scientists, including globally respected Key Opinion Leaders at the University of Edinburgh, Great Ormond Street Hospital for Children and University College London.

For more information, please visit our website:

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-Ends-

For the purposes of UK MAR, the Directors of the Company accept responsibility for the contents of this announcement.