Ananda Developments Plc - COVID-19 Initiative

Ananda Developments Plc - COVID-19 Initiative

PR Newswire

London, April 26

27 April 2020

ANANDA DEVELOPMENTS PLC

("Ananda" or the "Company")

COVID-19 INITIATIVE

The Directors of Ananda Developments Plc provide the following update to shareholders.

SUMMARY

• Current application to grow medicinal cannabis will involve analysis of cannabis strains at the laboratory of Dr Dedi Meiri at The Technion in Israel

• Dr Meiri is considered one of the world's foremost cannabis scientists

• Dr Meiri has commenced a new project to assess the potential of the anti inflammatory properties of cannabis for treating coronaviruses

• Ananda's application to grow medicinal cannabis will be broadened to stabilise strains of cannabis which may have applicability for the treatment of hyperinflammation caused by coronaviruses.These strains would be analysed at Dr Meiri's lab

The Company's application (via 50% owned company, DJT Plants Limited) to grow medicinal cannabis is currently in process with the Home Office and the MHRA (Medicines and Health Regulatory Agency). In its licence application, Ananda proposes to grow and stabilise 65 strains of medicinal cannabis which will have cannabinoid profiles useful for a range of diseases.

One of the key uses of medicinal cannabis is in the treatment of inflammatory diseases and one of the key features of cannabinoids and terpenes (the molecular constituents of cannabis) are their anti-inflammatory properties.

The Company's collaboration partner for the detailed analysis of the molecular makeup of the strains which Ananda proposes to grow and stabilise is Dr Dedi Meiri, based at The Technion in Israel, and widely regarded as one of the world's foremost cannabis scientists.

Dr Meiri has now commenced a new project to assess whether the anti-inflammatory and anti-viral properties of medicinal cannabis have benefits as a preventative measure and treatment for Covid-19 (and similar diseases).

His lab's research will be focused on four aspects of the potential of cannabis to dampen the hyperinflammatory response, involving the 'cytokine storm' (proteins released by cells to coordinate the body's immune response against infection), to the Covid-19 virus which is believed to cause much of the tissue damage as well as pulmonary edema, fever, and in severe cases ARDS (Acute Respiratory Distress Syndrome), septic shock and eventually multiple organ dysfunction.

As a result of this development, Ananda's application to grow medicinal cannabis will be widened to accommodate the stabilisation of strains of cannabis which demonstrate cannabinoid and terpene profiles that are deemed potentially useful for preventing or treating Covid-19 and similar viruses. It is proposed that these strains will be assessed in Israel by Dr Meiri's team. New coronaviruses have appeared throughout recent years and it is suggested that, after the 2020 Covid-19 Pandemic, there are likely to be new cases of the Covid-19 virus and new coronavirus outbreaks in coming years.

If Ananda is able to grow and stabilise the appropriate strains of cannabis, the Company expects, as a result of its collaboration with Dr Dedi Meiri's research lab in Israel, to contribute to research into the use of medicinal cannabis as a potential treatment for Covid-19 and other coronaviruses.

-Ends-

The Directors of the Company accept responsibility for the contents of this announcement.

ANANDA DEVELOPMENTS PLC Chief Executive Officer Melissa Sturgess Investor Relations Jeremy Sturgess-Smith	[phone] [e-mail]
PETERHOUSE CAPITAL LIMITED Corporate Finance Mark Anwyl Allie Feuerlein Corporate Broking Lucy Williams Duncan Vasey	[phone]
CELICOURT COMMUNICATIONS Mark Antelme Ollie Mills	[phone]

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.