IGEA Pharma N.V. / Key word(s): Miscellaneous
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IGEA to update on business combination
Hoofddorp, the Netherlands,15 February 2021. IGEA Pharma N.V. (SIX: IGPH) today announced an update on the business combination with Blue Sky Natural Resources LTD ("BSNR") disclosed for the first time on 8 August 2020.
Closing of the transaction
Post -closing ownership allocation
General meeting approval
The combination will create an EU headquartered and SIX-listed company specialized in high quality cannabidiol (CBD), terpenes, policosanol and plant sterols extraction using supercritical CO2 technology with elevated supply chain standards on raw materials features, titration, pollutants control, and bioavailability for health prevention, pharma, nutraceutical and cosmeceutical solutions.
Prof. Antonello Sannia, Chairman of the Scientific Advisory Board of BSNR "Our hemp flower oleolite is very rich in CBD, with a THC concentration well within limits. The therapeutic potential of CDB is well established, in particular with regard to its anxiolytic, antipsychotic and pain-relieving properties. It also presents anti-inflammatory, antioxidant and neuroprotective effects and has a proved usefulness in various health issues including Alzheimer's disease, Parkinson's disease, anxiety-depressive syndrome, cerebral ischemia, rheumatoid arthritis, and many other inflammatory diseases".
"We are strongly committed to close this combination to create one of the leading European players in the CBD industry, with the confidence of a favorable market momentum that supports our strategy. Thanks to this combination, we will enforce our product development and commercial capabilities, also leveraging on the synergies with the Alzheimer's prevention set started by IGEA. We are confident that their team will perfectly complement our capabilities" said Maurizio Scuotto, CEO and board member of BSNR.
Vincenzo Moccia, CEO of IGEA "We engaged strongly in this combination because we believe in synergies and advantages for both parties and all stakeholders. The positive expectation boosts our commitment".
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
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IGEA Pharma N.V.
2123 WT Hoofddorp
+31 23 568 9494
SIX Swiss Exchange
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