WILLOW ANNOUNCES A SECOND PROGRAM WITH GLOBAL INGREDIENT MANUFACTURER TO DEVELOP AN ENZYME FOR MANUFACTURING A LARGE VOLUME ACTIVE PHARMACEUTICAL INGREDIENT
Rhea-AI Summary
Willow Biosciences (TSX: WLLW; OTCQB: CANSF) has announced a second collaboration with a leading Active Pharmaceutical Ingredient (API) manufacturer. This new program aims to develop an optimized enzyme for large-scale manufacturing of a high-volume API used in a therapeutic with a global market exceeding $1 billion. The development phase is expected to last about six months, with potential milestone payments achievable by 2025. This marks Willow's 4th commercial agreement this year with potential milestone payments as early as next year. The collaboration builds on the success of their first program announced in January 2024, where Willow has already met certain development goals.
Positive
- Second collaboration with a leading API manufacturer, indicating strong business relationships
- Development of enzyme for large-volume API with global market exceeding $1 billion
- Potential milestone payments achievable by 2025
- Fourth commercial agreement this year with potential near-term payments
- Successful achievement of development goals in the first program
Negative
- None.
News Market Reaction – CANSF
On the day this news was published, CANSF declined 13.68%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
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
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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SOURCE Willow Biosciences Inc.