Rapid success of first program leads to second
collaboration to develop optimized enzyme for large scale
manufacturing process
Enzyme development expected to enable
commercial-scale production of the API in 2025
SUNNYVALE, Calif., Sept. 18,
2024 /CNW/ - Willow Biosciences
Inc. ("Willow") (TSX: WLLW) (OTCQB: CANSF), a leading
biotechnology company focused on revolutionizing industrial
manufacturing of pure, consistent, and sustainable ingredients,
today announced a second program with a leading Active
Pharmaceutical Ingredient ("API") manufacturer, to develop a
more sustainable, cost-effective manufacturing route for a large
volume ingredient used in a therapeutic with a global market in
excess of $1 billion. This marks the
second development collaboration for the two parties following the
announcement of the first program on January
31, 2024, where Willow has already successfully achieved
certain development goals.
Willow's collaboration partner, who currently sells the target
API, has now sought Willow's expertise to develop an enzyme to
replace an existing complex large scale chemical process. The
development phase of this funded collaboration is expected to last
approximately six months with additional milestone payments to be
made for achieving defined performance targets, which could be
achieved as early as 2025. This API partnership represents Willow's
4th announced commercial agreement year to date that
contains milestone or other commercial payments that could be
received as early as next year.
"We are excited to start a second program with this leading API
manufacturer to apply our technology platform to the production of
more sustainable APIs for existing, large volume global markets,"
said Dr. Chris Savile, Willow's
President & CEO. "The ultimate goal of any successful business
is to establish a long-term relationship with its partners."
continued Dr. Savile.
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 FutureGrown™ and
BioOxi™ platforms enable 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.
FutureGrown™ and BioOxi™ are registered
trademarks of Willow Biosciences Inc. All other trademarks are
trademarks of their respective holders.
Forward-Looking Statements
This news release may include forward-looking statements
including opinions, assumptions, estimates and the Company's
assessment of future plans and operations, and, more particularly,
statements concerning: the development programs with its biopharma
partner, including the ability to accommodate new programs and to
expand capabilities;; the demand and market size potential of the
synthetic ingredients industry; and the business plan of the
Company, generally, including becoming a leader in precision
fermentation, research and production of functional ingredients.
When used in this news release, the words "will," "anticipate,"
"believe," "estimate," "expect," "intent," "may," "project,"
"should," "could," and similar expressions are intended to be among
the statements that identify forward-looking statements. The
forward-looking statements are founded on the basis of expectations
and assumptions made by the Company which include, but are not
limited to: the success of Willow's strategic partnerships,
including the development of future strategic partnerships; the
financial strength of the Company; the ability of the Company to
fund its business plan using cash on hand and existing resources;
the market for Willow's products; the ability of the Company to
obtain and retain applicable licences; the ability of the Company
to obtain suitable manufacturing partners and other strategic
relationships; and the successful implementation of Willow's
commercialization and production strategy, generally.
Forward-looking statements are subject to a wide range of risks and
uncertainties, and although the Company believes that the
expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will
be realized. Any number of important factors could cause actual
results biotechnology industry in general; the success of the
Company's research and development strategies; infringement on
intellectual property; failure to benefit from partnerships or
successfully integrate acquisitions; actions and initiatives of
federal and provincial governments and changes to government
policies and the execution and impact of these actions, initiatives
and policies; competition from other industry participants; adverse
U.S., Canadian and global economic conditions; adverse global
events and public-health crises,; failure to comply with certain
regulations; departure of key management personnel or inability to
attract and retain talent; and other factors more fully described
from time to time in the reports and filings made by the Company
with securities regulatory authorities. Please refer to the
Company's most recent annual information form and management's
discussion and analysis for additional risk factors relating to
Willow, which can be accessed either on Willow's website
at www.willowbio.com or under the Company's profile
on www.sedarplus.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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/willow-announces-a-second-program-with-global-ingredient-manufacturer-to-develop-an-enzyme-for-manufacturing-a-large-volume-active-pharmaceutical-ingredient-302252430.html
SOURCE Willow Biosciences Inc.
