25 November 2022
ANANDA DEVELOPMENTS PLC
(“Ananda” or the “Company”)
Ananda’s ambition is to be a leading
- In a significant step for the
UKmedical cannabis industry, on 16 November 2022, the Medicines and Healthcare products Regulatory Agency of the UKGovernment (the MHRA) made an announcement clarifying the process for a company to be authorised to grow and manufacture medical cannabis commercially.
- The MHRA process involves a series of checks, inspections and validations involving both the
UKHome Office and the MHRA.
- Previously, there has been no formalised joint approach to medical cannabis cultivation and manufacturing from the Home Office and the MHRA.
- The Directors believe that the proposals announced by the MHRA demonstrate the
UKGovernment’s commitment to the development of a UKmedical cannabis cultivation and manufacturing industry.
- Ananda has always intended to apply for a commercial medical cannabis growing licence and is well positioned to take advantage of this latest move by the
- The MHRA’s five step process assumes a company is starting with no Home Office Controlled Drug Licence or operations. Ananda already has a Controlled Drug Licence and has conducted one full season of field trial growing. The Directors expect that this will expedite Ananda’s progress through the licensing process.
- Ananda has already commenced workstreams for the GACP/GMP/GDP* facility within its existing Home Office Licenced Research Facility in Lincolnshire.
- Ananda’s field trials of its single crop, natural season growing in Lincolnshire have proven its strategy is the right one. The Directors believe that no artificial light or heat is the best environment in which to grow superior medical cannabis flower and that the low cost of this growing method is key for financial success.
Ananda’s CEO Melissa Sturgess commented: “We see this announcement from the MHRA as the most significant step for the
*Good Agricultural and Collection Practices/Good Manufacturing Practices/Good Distribution Practices
The Directors of the Company accept responsibility for the contents of this announcement.
|ANANDA DEVELOPMENTS PLC
Chief Executive Officer
|+44 (0)7463 686 497
|PETERHOUSE CAPITAL LIMTED
|+44 (0)20 7469 0930|
About Ananda Developments
Ananda is an AQSE-listed medical cannabis company creating
For more information, please visit: https://anandadevelopments.com
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.