WILLOW BIOSCIENCES REPORTS THIRD QUARTER 2022 RESULTS AND ANNOUNCES APPOINTMENT OF DR SEUFER-WASSERTHAL AS PRESIDENT AND CEO – QNT Press Release


CALGARY, AB AND MOUNTAIN VIEW, CA, Nov. 3, 2022 /CNW/ – Willow Biosciences Inc. (“Willow” or the “Company“) (TSX:WLLW) (OTCQB:CANSF), a leading biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent and sustainable functional ingredients, has released its financial and operating results for the three and nine months ended September 30, 2022reporting significant progress to its operational platform, leadership and strong liquidity. Additionally, Willow has announced today that its Board of Directors has appointed Dr. Peter Seufer-Wasserthal as its President and CEO, effective November 3, 2022.

Dr. Seufer-Wasserthal has served as interim President and CEO since July 2022 and brings extensive experience in biotech, pharma, nutrition, and consumer care to the Company and has already advanced several partnership discussions in the food and nutrition sectors. He will continue to build and lead the organization needed to successfully execute on the Company’s mission. Dr . Seufer-Wasserthal will continue to serve as Chairman of the Board of the Company.

“The third quarter saw us take another step forward in becoming a leader in precision fermentation”, said Dr. Peter Seufer-Wasserthal. “Our FutureGrown™ platform technology has allowed to secure partnerships and identify attractive functional ingredient opportunities leveraging off our initial work done on cannabinoids, and we are excited to continue to de-risk our portfolio to create value for our stakeholders.”

Willow’s unaudited consolidated interim financial statements and related management’s discussion and analysis for the quarter ended September 30, 2022 are available on SEDAR at www.sedar.com.

Highlights for the Quarter
  • On July 18, 2022Willow appointed Dr. Peter Seufer-Wasserthal as Interim President and Chief Executive Officer, effective July 17, 2022in connection with Trevor Peters’ retirement as President and CEO. Mr. Peters continues to serve as a Director of the Company.
  • On August 31, 2022Willow provided an update on Generally Recognized as Safe (“GRAS“) status for its FutureGrown™ cannabigerol (“CBG“) product. The Company successfully completed the Stage 1 toxicological assessment for oral product applications. Willow anticipates initiating its Stage 2 pivotal toxicological assessment in Q3 2022 and attaining an independent conclusion of GRAS in the first half of 2023.
  • Subsequent to the quarter, on October 12, 2022the Company announced that it had completed proof of …

Full story available on Benzinga.com



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