Your latest cannabis business info from Europe

Your latest cannabis business info from Europe

2023-05-18

Ananda Developments: cannabis patents and sole broker change

Ananda Developments: cannabis patents and sole broker change

Ananda Developments specialises in developing cannabis-based medications. Recently the company announced some interesting information about cannabis-products patents applications and sole broker change.

Four patent applications

First of all, Ananda Development’s subsidiary, MRX Medical Limited, has submitted four patent applications to the UK Intellectual Property Office. The patents cover three cannabis formulations, including the recently created MRX3 and the older MRX1 and MRX2. These products are being developed as cannabinoid-based medications for difficult-to-treat inflammatory diseases. The fourth of the patents concerns a secret formulation process for these cannabis products.

The University of Edinburgh will perform two future Phase II Randomised Control Trials (RCTs) using the MRX1 formulation as the Active Pharmaceutical Ingredient (API). In one experiment, cannabidiol’s impact on chemotherapy-induced peripheral neuropathy (CIPN) will be examined. In the other, its impact on endometriosis will be investigated.

Corporate Adviser and sole Broker at Ananda Developments

Moreover, Ananda Developments announced the selection of the company’s AQSE Corporate Adviser and sole Broker. It will beSP Angel Corporate Finance LLP. This hiring comes after a £427,400 fundraising operation and a successful closing of the acquisition of MRX Global Limited and its subsidiary MRX Medical Limited.

In the upcoming weeks, SP Angel will publish an initiation research report on Ananda. When the time is right, SP Angel can help Ananda make a smooth transition to the Alternative Investment Market. In summary, they are known for its dedicated in-house healthcare research team and serve as a NOMAD (Nominated Adviser).

Overall, Ananda wants to position itself in the healthcare industry by offering cannabis-based medications for the treatment of chronic, complex inflammatory pain problems. The partnership with SP Angel will improve Ananda’s narrative. It can also widen its market share, and position the business for more competitive markets. Since the company went public in 2018, Peterhouse has served as Ananda’s corporate counsel and broker. 

Ananda Developments’ future

After all, CEO Melissa Sturgess expressed appreciation to Peterhouse for their support and direction. However, with SP Angel now serving as Ananda’s AQSE Corporate Adviser and Broker, the company has taken a significant step toward strengthening its position in the healthcare industry and preparing for potential future market expansion.

In case of patents, Melissa Sturgess underlines the importance of filing these applications. Thanks to them, they will protect the business’s intellectual property and help increase shareholder value. Patents will assist Ananda’s growth and expansion. 

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