Ananda Developments - THC Oil Patent Application Filed

8 November 2023

ANANDA DEVELOPMENTS PLC

("Ananda" or the "Company")

THC Oil Patent Application 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 (MRX) has filed a fifth patent application with the UK Government's Intellectual Property Office.

The application covers a new cannabinoid formulation known as MRX2T. This formulation is based on MRX's patent pending MRX2 cannabidiol formulation, with the addition of tetrahydrocannabinol (THC). This formulation has been developed for use in Randomised Controlled Trials (RCTs)  and the Company looks forward to updating shareholders in due course.

This application is in addition to four previous applications which cover the proprietary formulation methodology and three different cannabinoid formulations known as MRX1, MRX2 and MRX3. MRX1 will be used as the investigational medicinal product (IMP) in two Phase II RCTs being conducted by the University of Edinburgh. One trial is investigating the effect of CBD on pain associated with chemotherapy induced peripheral neuropathy (CIPN) and the other is investigating the effect of cannabidiol on pain associated with endometriosis.

Ananda's CEO, Melissa Sturgess, commented: "We are building Ananda's intellectual property with the application for a fifth patent covering an oil formulation containing THC as well as CBD.  We are hopeful this oil will be used in randomised controlled trials and look forward to bringing shareholders an update on this as soon as possible."

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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.