Program brings immediate R&D revenue and first commercial supply revenue as early as 2024
Program further validates Willow’s BioOxiTM technology and focus on commercial execution and aligns with its strategic focus on near term revenue generation
Sunnyvale, California – December 7, 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, and a Nasdaq-listed biopharma company are advancing their program to develop precise, concise manufacturing routes to advanced intermediates and high-value active pharmaceutical ingredients.
The parties’ phase one feasibility program that applied Willow’s BioOxiTM platform exceeded expectations and the partner has now agreed to continue full development toward commercialization, including additional R&D and scale-up work. Willow expects to continue generating revenue from research fees, aligning with its strategic focus on near-term revenue generation on programs bringing commercial revenue in reasonable timeframes, and to begin generating revenue from commercial supply of a key advanced intermediate from Willow’s manufacturing network as early as 2024.
“We appreciate the trust our partner has in Willow to develop sustainable manufacturing routes to APIs and are delighted to continue to work with them to further develop and supply key advanced intermediates to support their development pipeline,” said Dr. Chris Savile, Willow’s President & CEO. “This is truly an exciting time for Willow and the BioOxi platform as we rapidly move from R&D to manufacturing and supply in 2024.”
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 and BioOxiTM 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.
FutureGrown™ and BioOxiTM are registered trademarks of Willow.
For further information, please contact:
Willow Biosciences Contact
Travis Doupe
Chief Financial Officer
info@willowbio.com