Willow Biosciences Inc. ("Willow" or the "Company") (TSX: WLLW) (OTCQB: CANSF), a leading biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent and sustainable ingredients is pleased to announce today that is has been engaged by a specialty pharmaceutical company (the "Counterparty") to optimize an enzyme vital to the development of a large volume Active Pharmaceutical Ingredient (API) used in nutraceutical and pharmaceutical products. The Counterparty is partnered with a large-cap, multi-national healthcare company.
This is a significant step forward in the evolution of Willow's business ,This new partnership highlights the capabilities of our scientific team, and demonstrates to our stakeholders the wide array of opportunities accessible to Willow's comprehensive FutureGrownTM technology platform. As Willow continues to expand its capabilities and add new partnerships, Willow is on a path to becoming the premier name in biobased manufacturing."
Trevor Peters, Willow's President and Chief Executive Officer.
The project consists of research & development and commercialization phases, with revenue coming from both research fees and milestone payments. Following commercialization, Willow anticipates an on-going revenue stream from license payments.
About Willow Biosciences Inc.
Willow develops and produces high-purity ingredients for the personal care, food and beverage, and pharmaceutical 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.