Ananda Developments PLC (AQSE:ANA), a medical cannabis company listed on AQSE, has outlined its ambitions to be a leading grower and provider of high-quality medical cannabis for the UK and international markets.
The company's wholly-owned subsidiary, DJT Plants, holds a licence from the Home Office to cultivate medical cannabis for research in Lincolnshire and is now focusing on preparation for commercial growing and GMP certification from the Medicines and Healthcare products Regulatory Agency.
Testing of cultivars grown in 2022 confirmed the successful growth of high THC and balanced THC/CBD cultivars, as well as high CBD cultivars. DJT plans to choose a selection of these cultivars for the 2023 growing season, focusing on cultivation to Good Agricultural Collection Practice standards. The next step, subject to necessary approvals, is to move the harvested flower to a pharmaceutical-grade processing and manufacturing facility on-site.
Ananda also reported progress in its genetic stabilisation program, developing protocols to self-pollinate cannabis and produce viable seeds for the next generation of plants. The aim is to achieve plants with over 98% genetic similarity by the sixth generation. The advantages of seeds over cloning include easy and inexpensive storage and no genetic drift, making them suitable as starting material for growing medical cannabis.
In the statement, Ananda CEO Melissa Sturges said: “I am delighted we have assembled a best-in-class team which is committed to our objectives. All businesses need organizational stability to succeed, so our team remains our key asset. We believe that everything is heading in the right direction and that we are perfectly positioned. Our plan is 'prove and scale' thereby reducing risk, reducing the chance of misallocated capital, and getting the best returns for shareholders.”