Ananda Developments - Patent Applications Filed

17 May 2023

ANANDA DEVELOPMENTS PLC

("Ananda" or the "Company")

Patent Applications Filed

Ananda Developments plc (AQSE: ANA), a company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of chronic, complex inflammatory pain conditions, is pleased to announce that its wholly owned subsidiary MRX Medical Limited, has filed four patent applications with the UK government's Intellectual Property Office.

The applications cover three cannabinoid formulations known as MRX1, MRX2 and its most recently invented formulation MRX3. These formulations are being developed as cannabidiol-based medicines for the treatment of a number of complex inflammatory indications which are unmet by existing treatments. The fourth application covers a proprietary method for formulating these products.

The MRX1 formulation is to be used as the Active Pharmaceutical Ingredient (API) in two upcoming Phase II Randomised Control Trials (RCTs) to be conducted by the University of Edinburgh. One trial is investigating the effect of cannabidiol on chemotherapy induced peripheral neuropathy (CIPN) and the other is investigating the effect of cannabidiol on endometriosis.

Ananda's CEO, Melissa Sturgess, commented: "The filing of these patent applications is an important step as we build Ananda. The patent applications will protect the Company's intellectual property and help to build value for shareholders."

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The Directors of the Company accept responsibility for the contents of this announcement.

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 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.