WILLOW SIGNS MASTER SERVICES AGREEMENT WITH INNOVATIVE BIOTECH COMPANY TO DEVELOP INGREDIENTS FOR AGE-RELATED DISEASES
Biotech partner recognizes strength of Willow’s first in class FutureGrownTM technology platform for producing natural products
Further expansion and diversification of Willow’s product portfolio with collaboration revenue expected in 2023 and potential for near-term commercial product revenue
Mountain View, California – May 31, 2023 – Willow Biosciences Inc.(“Willow“) (TSX: WLLW; OTCQB: CANSF), a leading biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent and sustainable functional ingredients announces execution of a Master Services Agreement (the “MSA”) with an innovative biotech company focused on age-related diseases. Through this partnership, Willow will develop precision fermentation processes for a class of molecules with targets being developed as nutritional supplements for health and wellness and active pharmaceutical ingredients (APIs).
Willow will use its FutureGrown™ technology platform and yeast-strain engineering expertise with the goal of developing a strain and process for production of the partner’s ingredients. After a successful first phase, both parties anticipate the next steps will be a full process optimization program and entering into a commercial agreement for scaling up the targeted ingredients for use in consumer end-market products. Due to the disruptive potential nature of its targeted product applications, the partner’s name and target molecules are not being disclosed at this time.
“We are delighted that our partner recognizes our expert strain engineering capabilities can help accelerate and support their product innovation needs to develop novel solutions for age-related diseases,” said Dr. Chris Savile, Willow’s President and CEO. “Furthermore, their dual commercialization strategy supports the generation of nearer term product revenue from the nutritional supplement segment along with the longer-term upside from the pharmaceutical sector. With this agreement and other positive developments we’ve announced in recent weeks, we continue to believe 2023 will be a solid year of growth and progress for Willow with the anticipation of our being able to post fundamentally improved financial results for the year.”
About Willow Biosciences Inc.
Willow develops and produces precision fermented functional ingredients for the health and wellness, food and beverage and personal care markets. Willow’s FutureGrownTM biotechnology platform allows large-scale production with sustainability at its core. Willow’s R&D team has a proven track record of developing and commercializing bio-based manufacturing processes and products to benefit our B2B partners and their customers. For more information, visit www.willowbio.com.
The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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Mountain View, CA
Focused on identifying and deploying additional genetic elements and solutions to further enhance production of our yeast strains and processes. This state-of-the-art R&D facility includes high-throughput molecular biology and screening technologies, high-end analytical instrumentation and fermentation capabilities along with systems to rapidly evaluate high volumes of data and results.