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DJ Ananda Developments Plc Update on Medicinal Cannabis Growing Licence

 
TIDMANA 
 
18 May 2020 
 
                            ANANDA DEVELOPMENTS PLC 
                          ("Ananda" or the "Company") 
 
                 UPDATE ON MEDICINAL CANNABIS GROWING LICENCE 
 
The Directors of Ananda Developments Plc provide the following update to 
shareholders. 
 
MHRA Meeting 
 
As part of the application to grow medicinal cannabis in the UK, a meeting was 
held last week between DJT Plants Limited ("DJT"), which is 50% owned by 
Ananda, and the MHRA (Medicines and  Healthcare products Regulatory Agency). 
The MHRA is responsible for ensuring medicines and medical devices are safe. 
Its oversight of DJT's work will start when DJT is planning the growing and 
harvesting of medicinal cananbis under Good Agricultural and Collection 
Practices (GACP) and supply under Good Manufacturing Practices (GMP). The MHRA 
will be responsible for the providing certification of GMP. At the meeting, the 
team from DJT discussed its plans to grow and stabilise strains of cannabis 
which are being used in the treatment of medical conditions including 
Parkinsons' disease, epilepsy and inflammatory diseases, amongst others.  DJT 
is grateful for the feedback and advice given at this meeting. 
 
DJT's ultimate objective is to be a commercial grower of medicinal cannabis for 
the UK and international markets.  As identified by Professor Mike Barnes, a 
senior figure in the medicinal cannabis sector, a UK medicinal cannabis 
industry is very much needed to meet growing patient demand in this country in 
a cost effective and timely fashion. 
 
The meeting with the MHRA is an important progression in DJT's licence 
appliaction, which the Directors believe reflects its credibility as an 
applicant. 
 
Next Steps 
 
The next stage is further engagement with the Home Office to review the 
security and other aspects of the medicinal cannabis growing plans. 
 
Ananda's Medicinal Cannabis Growing Plans 
 
DJT has made an application to grow >0.2% THC cannabis in Lincolnshire.  Its 
partner is the JEPCO Group, comprised of JEPCO Limited and Anglia Salads 
Limited ("JEPCO"). DJT's proposal is to commence growing up to 1,105 cannabis 
plants in Lincolnshire, and to ultimately increase to growing on an area up to 
30 hectares (accommodating approximately 300,000 cannabis plants).  The 
practical growing will be undertaken by JEPCO, which has previously grown 
medical cannabis in the UK for a large pharmaceutical company. 
 
The initial objective is to stabilise 65 strains of cannabis to have low 
variability and high predictability, in collaboration with Dr Dedi Meiri's 
laboratory in Israel, which it is hoped may be useful to treat a range of 
conditions such as Parkinson's Disease, epilepsy and neuropathic pain.  As 
announced on 27 April 2020, Dr Meiri has commenced a new project to assess the 
potential of the anti inflammatory properties of cannabis for treating 
coronaviruses, and Ananda's plans are being broadened to stabilise strains of 
cannabis which may have applicability for the treatment of hyperinflammation 
caused by coronaviruses.  These strains would also be analysed at Dr Meiri's 
laboratory.The Directors believe that Dr Meiri is one of the world's foremost 
researchers in medical cannabis, with one of the most sophisticated cannabis 
analytical laboratories in the world. 
 
Ananda's objective is to convert the genetic stabilisation growing to 
commercial growing, when demand builds in the UK medical cannabis industry and 
when the regulatory and legal framework allows. 
 
JEPCO has successfully grown medical cannabis in the UK to very high standards, 
(for the pharmaceutical industry) and at low cost.  The Directors believe a UK 
source of medical cannabis will be well received, especially given the 
possibility of global supply chains continuing to break down. 
 
DJT Plants Limited is a wholly owned subsidiary of DJT Group Limited, which is 
50% owned by Tiamat Agriculture Limited, which is a 100% subsidiary of Ananda 
Developments Plc. 
 
                                    -Ends- 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
ANANDA DEVELOPMENTS PLC                                 +44 (0)7717 573 235 
Chief Executive Officer                           ir@anandadevelopments.com 
Melissa Sturgess 
 
Investor Relations 
Jeremy Sturgess-Smith 
 
PETERHOUSE CAPITAL LIMITED                              +44 (0)20 7469 0930 
Corporate Finance 
Mark Anwyl 
Allie Feuerlein 
 
Corporate Broking 
Lucy Williams 
Duncan Vasey 
 
CELICOURT COMMUNICATIONS                                +44 (0)20 8434 2643 
Mark Antelme 
Ollie Mills 
 
Market Abuse Regulation (MAR) Disclosure 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

May 18, 2020 02:01 ET (06:01 GMT)