Immediate access to UK medical cannabis market
LONDON–(BUSINESS WIRE)–EMMAC Life Sciences Ltd (“EMMAC” or the “Company”), the European
independent medical cannabis company, is pleased to announce completion
of the acquisition of the entire issued share capital of Rokshaw Limited
(“Rokshaw”), a leading UK MHRA approved Specials manufacturer, by
EMMAC’s UK subsidiary, EMMAC UK Limited. The acquisition brings
immediate revenues to EMMAC and enables the Company to import medical
cannabis into the UK to meet the growing demands of the market, led by
regulatory change, for premium medical cannabis product.
Founded in 2012, Sunderland-based Rokshaw is a leading UK laboratory,
manufacturing a wide range of Specials bespoke to patient requirements
in an EU GMP environment to ensure that patients across the UK receive
the highest quality products. Rokshaw has already manufactured more than
6,000 formulations for over 2,000 pharmacies and hospitals across the UK.
Rokshaw’s experienced team has extensive regulatory, formulations,
production and import capabilities and holds the following licenses,
MHRA Specials Manufacturing, Home Office Controlled drugs schedule 2 and
Wholesale dealers authorisation, which ensure that compliant product can
be imported and manufactured in the UK in order to meet growing demands
for cannabis-based products for medicinal use (“CBPMs”). In addition to
the existing licenses, Rokshaw is pursuing additional licenses to
facilitate greater research into the benefits of CBPMs.
Antonio Costanzo, CEO of EMMAC, commented: “We are delighted to
announce the acquisition of Rokshaw today. This investment not only
brings with it an immediate revenue stream but also provides EMMAC
instant access to the UK medical cannabis market with the opportunity to
grow the existing 45 people-strong team into a centre of medical
cannabis excellence for the UK. Joining us are the two founders of
Rokshaw, Jonathan and Richard Hodgson, who have significant and relevant
experience of working in this highly regulated industry as well as a
proven track record of delivering high quality product.”
Jonathan and Richard Hodgson, co-founders of Rokshaw, said: “We
are really pleased to have joined EMMAC at this exciting stage of its
corporate development as we share its vision of becoming the leading
European independent medical cannabis company. We are confident that the
team here at Rokshaw can play an important role in EMMAC achieving its
goal through the provision of high-quality product and services to
patients across the UK, and by unlocking the potential for the medical
cannabis market to meet growing clinician and patient demand.”
Rokshaw is EMMAC’s second GMP-certified laboratory and it will work in
close conjunction with Medalchemy, the Company’s research and
development facility in Spain that was recently granted an importation
permit by Spanish authorities; this unique vertical integration enabling
EMMAC to control both the Active Pharmaceutical Ingredient and Finished
Good Manufacture. As part of EMMAC, both facilities will uphold EMMAC’s
stated commitment to delivering the highest quality medical cannabis
product for the European market.
About EMMAC
EMMAC is the European medical cannabis company, working to join together
the latest science and research with cutting-edge cultivation,
extraction and production. With supply and distribution partnerships
throughout Europe, EMMAC is working to establish itself as both a
thought leader in the industry, as well as the European leader in the
production and supply of medical cannabis, hemp and other derivative
products.
CAUTIONARY STATEMENT
All statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks and
uncertainties, including, without limitation, statements regarding
potential values, the future plans and objectives of EMMAC Life Sciences
Ltd. There can be no assurance that such statements will prove to be
accurate, achievable or recognisable in the near term.
Actual results and future events could differ materially from those
anticipated in such statements. These and all subsequent written and
oral forward-looking statements are based on the estimates and opinions
of management on the dates they are made and are expressly qualified in
their entirety by this notice. EMMAC Life Sciences Ltd assumes no
obligation to update forward-looking statements should circumstances or
management’s estimates or opinions change.
Contacts
For scientific enquiries please contact research@emmac.com
For
general enquiries please contact info@emmac.com
or visit www.emmac.com
Media enquiries:
Buchanan
Henry Harrison-Topham
/ Jamie Hooper / Catriona Flint
emmac@buchanan.uk.com
Tel:
+44 (0) 20 7466 5000
www.buchanan.uk.com