AP NEWS
Click to copy
Press release content from Business Wire. The AP news staff was not involved in its creation.
Click to copy
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

TTS Pharma Limited Announces Closing of £10.3 Million Fundraising and New Board Appointment

May 23, 2019

LIVERPOOL & LONDON, England--(BUSINESS WIRE)--May 23, 2019--

COMPLETION OF SERIES B FUNDRAISE

TTS Pharma Limited (“TTS Pharma” or the “Company”), a UK company which is a vertically integrated supply chain manager in the cultivation, manufacturing and development of the emerging ethical cannabis market, announces that it has successfully closed a private equity investment totalling £10.3 million, on the basis of a two-tranche investment. This investment will permit TTS Pharma to become one of the leading global suppliers in this fast-growing multibillion-dollar industry, by allowing it to expand its existing supply chain, develop its own facilities and further strengthen its academic and commercial partnerships. It also enables the Company to advance its diversified operations in the wellness, nutraceutical and pharmaceutical sectors. The ethical cannabis market is set to become a high growth, disruptive and innovative new segment in the life sciences field and TTS Pharma is ideally positioned to capture rapid value within this market.

BOARD UPDATE

TTS Pharma also announces the appointment of a new Executive Chairman, Paul Atherton, who brings with him Global Institutional and Public Market experience to the board.

TTS Pharma is a unique business with core competencies and partners in drug discovery, development, separation, purification and drug delivery, incorporating the supply chain management of cannabinoids, such as CBD. It is intending to provide a transparent and accountable supply chain that produces legal and regulated cannabis-derived active agents for R&D, Bulk Active ingredients and wholesale distribution of finished goods. TTS Pharma is committed to producing the highest quality, fully compliant CBD products for use in a large range of commercial segments, alongside a number of partners, after obtaining the requisite regulatory clearance.

The pre-established supply chain including both domestic and international partners enables the Company to legally supply various CBD products to a growing range of customers. In mid-2018, TTS Pharma commenced a comprehensive R&D sponsorship programme to extract the various cannabinoids, and then to consider their chemical properties and effects, in order to develop new products in both human and animal markets.

Paul Atherton commented:

“I am delighted to join TTS Pharma as Executive Chairman. Utilising existing in-house know-how, TTS Pharma represents a unique chance to develop and produce world class, novel products for the rapidly growing new industry of  ethically-based, legal cannabis products. I see a long-term opportunity to establish cost and scale advantages, allowing this Company to flourish in this attractive, global emerging industry.”

TTS Pharma CEO, Mark Tucker added:

“It is a great privilege to lead a team of highly experienced pharmaceutical professionals building an exciting portfolio of technologies and products based on world class expertise and industry leading know-how. We are well placed to build on the scientific developments driving this rapidly growing industry and provide cannabinoid products of unparalleled quality and consistency. Since my early involvement in pre-clinical cannabinoid trials in 2003, TTS Pharma has grown extensively and is now producing and developing a range of innovative and safe cannabis-based products within existing legislation and the evolving regulatory framework.”

About Paul Atherton

Paul Atherton was until the end of 2017, the Chief Executive Officer and Chief Financial Officer of Heritage Oil Limited, which held both production and exploration assets around the world. The company was one of the largest oil and gas companies listed on the Main Board of the London Stock Exchange and a member of the FTSE 250, before being taken private for US$1.6 billion in 2014. During this time Paul executed significant fundraisings, mergers and acquisitions and the eventual privatisation, generating outstanding shareholder returns. Paul is a Chartered Accountant having qualified at Deloitte and worked in corporate finance at BDO.

About TTS Pharma Ltd

TTS Pharma is a private company, incorporated in England and Wales and established in 2012, with offices in London and Liverpool. The Company has an R&D business developing products and holds deep industry expertise in extraction, separation and manufacturing of Cannabinoids. The Company has begun sales of its highly purified cannabis related products and technologies. The company abides by all legal and regulatory requirements in the UK and elsewhere and expects to gain further permissions related to these products in due course.

www.ttspharma.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20190522005683/en/

CONTACT: Enquiries to:

TTS Pharma Ltd

Mark Tucker, CEO

mrtucker@ttspharma.com

Paul Atherton, Chairman

patherton@ttspharma.com

Sciad Communications Ltd

Maria Patey

TTSPharma@sciad.com

+44 203 7550571

Corporate Broker and Financial Advisor

The Life Sciences Division Ltd

Ms Alia Minhas MBA ACSI

ali@thelifesciencesdivision.com

+44 207 8741890

Dr. Navid Malik. PhD, MSc, MBA, ACSI

navid@thelifesciencesdivision.com

+44 207 8741890

Legal Advisor

Osborne Clarke LLP

Dr Janita Good, Partner Head of Lifescience and Healthcare

janita.good@osborneclarke.com

+44 207 1057042

M&A Advisor

ThinkingLinking

Mark Dixon, Chief Thinking Officer

mdixon@thinkinglinking.com

+44 207 5561093

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: HEALTH ALTERNATIVE MEDICINE PHARMACEUTICAL

SOURCE: TTS Pharma Limited

Copyright Business Wire 2019.

PUB: 05/23/2019 02:00 AM/DISC: 05/23/2019 02:01 AM

http://www.businesswire.com/news/home/20190522005683/en

All contents © copyright 2019 The Associated Press. All rights reserved.