TTS Pharma Limited Announces Closing of £10.3 Million Fundraising and New Board Appointment
May 23, 2019- The completion of series B fundraise of £10.3 million
- The appointment of Paul Atherton as Chairman
LIVERPOOL & LONDON, England–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/CBD?src=hash" target="_blank"gt;#CBDlt;/agt;–COMPLETION OF SERIES B FUNDRAISE
TTS
Pharma Limited (“TTS Pharma” or the “Company”), a UK company which
is a vertically integrated supply chain manager in the cultivation,
manufacturing and development of the emerging ethical cannabis market,
announces that it has successfully closed a private equity investment
totalling £10.3 million, on the basis of a two-tranche investment. This
investment will permit TTS Pharma to become one of the leading global
suppliers in this fast-growing multibillion-dollar industry, by allowing
it to expand its existing supply chain, develop its own facilities and
further strengthen its academic and commercial partnerships. It also
enables the Company to advance its diversified operations in the
wellness, nutraceutical and pharmaceutical sectors. The ethical cannabis
market is set to become a high growth, disruptive and innovative new
segment in the life sciences field and TTS Pharma is ideally positioned
to capture rapid value within this market.
BOARD UPDATE
TTS Pharma also announces the appointment of a new Executive Chairman,
Paul Atherton, who brings with him Global Institutional and Public
Market experience to the board.
TTS Pharma is a unique business with core competencies and partners in
drug discovery, development, separation, purification and drug delivery,
incorporating the supply chain management of cannabinoids, such as CBD.
It is intending to provide a transparent and accountable supply chain
that produces legal and regulated cannabis-derived active agents for
R&D, Bulk Active ingredients and wholesale distribution of finished
goods. TTS Pharma is committed to producing the highest quality, fully
compliant CBD products for use in a large range of commercial segments,
alongside a number of partners, after obtaining the requisite regulatory
clearance.
The pre-established supply chain including both domestic and
international partners enables the Company to legally supply various CBD
products to a growing range of customers. In mid-2018, TTS Pharma
commenced a comprehensive R&D sponsorship programme to extract the
various cannabinoids, and then to consider their chemical properties and
effects, in order to develop new products in both human and animal
markets.
Paul Atherton commented:
“I am delighted to join TTS Pharma as Executive Chairman. Utilising
existing in-house know-how, TTS Pharma represents a unique chance to
develop and produce world class, novel products for the rapidly growing
new industry of ethically-based, legal cannabis products. I
see a long-term opportunity to establish cost and scale advantages,
allowing this Company to flourish in this attractive, global emerging
industry.”
TTS Pharma CEO, Mark Tucker added:
“It is a great privilege to lead a team of highly experienced
pharmaceutical professionals building an exciting portfolio of
technologies and products based on world class expertise and industry
leading know-how. We are well placed to build on the scientific
developments driving this rapidly growing industry and provide
cannabinoid products of unparalleled quality and consistency. Since my
early involvement in pre-clinical cannabinoid trials in 2003, TTS Pharma
has grown extensively and is now producing and developing a range of
innovative and safe cannabis-based products within existing legislation
and the evolving regulatory framework.”
About Paul Atherton
Paul Atherton was until the end of 2017, the Chief Executive Officer and
Chief Financial Officer of Heritage Oil Limited, which held both
production and exploration assets around the world. The company was one
of the largest oil and gas companies listed on the Main Board of the
London Stock Exchange and a member of the FTSE 250, before being taken
private for US$1.6 billion in 2014. During this time Paul executed
significant fundraisings, mergers and acquisitions and the eventual
privatisation, generating outstanding shareholder returns. Paul is a
Chartered Accountant having qualified at Deloitte and worked in
corporate finance at BDO.
About TTS Pharma Ltd
TTS Pharma is a private company, incorporated in England and Wales and
established in 2012, with offices in London and Liverpool. The Company
has an R&D business developing products and holds deep industry
expertise in extraction, separation and manufacturing of Cannabinoids.
The Company has begun sales of its highly purified cannabis related
products and technologies. The company abides by all legal and
regulatory requirements in the UK and elsewhere and expects to gain
further permissions related to these products in due course.
Contacts
Enquiries to:
TTS Pharma Ltd
Mark Tucker, CEO
[email protected]
Paul
Atherton, Chairman
p[email protected]
Sciad
Communications Ltd
Maria Patey
[email protected]
+44
203 7550571
Corporate Broker and Financial Advisor
The
Life Sciences Division Ltd
Ms Alia Minhas MBA ACSI
[email protected]
+44
207 8741890
Dr. Navid Malik. PhD, MSc, MBA, ACSI
[email protected]
+44
207 8741890
Legal Advisor
Osborne Clarke LLP
Dr
Janita Good, Partner Head of Lifescience and Healthcare
[email protected]
+44
207 1057042
M&A Advisor
ThinkingLinking
Mark
Dixon, Chief Thinking Officer
[email protected]
+44
207 5561093