Willow Bioscience CEO Dr Chris Savile joined Steve Darling from Proactive to announce some significant developments within the company.
Willow Bioscience specializes in the production of ursodeoxycholic acid (UDCA), a vital pharmaceutical ingredient with extensive applications in nutraceutical and pharmaceutical products. UDCA is notably used in the management and treatment of cholestatic liver diseases and gallstone conditions. Moreover, it serves as a crucial intermediate compound for tauroursodeoxycholic acid (TUDCA), an essential active pharmaceutical ingredient in a recently approved combination therapy for the treatment of ALS in Canada and the United States.
In partnership with Sandhill One, LLC, Willow has successfully completed research and development on its UDCA program. This collaborative initiative enabled Willow to optimize a proprietary enzyme necessary for UDCA development. Of particular significance is the achievement of selective C-H hydroxylation at an industrial scale, often regarded as a challenging feat in the field of chemistry.
Dr Savile's announcement also extended to the financial front. Willow Bioscience is initiating an offering of convertible debenture units in a non-brokered private placement to raise approximately $1.2 million. Notably, insiders, including members of the Board of Directors and senior management, are expected to subscribe to approximately 50% of the total funds raised. This underscores the strong commitment and confidence that the company's leadership has in Willow's vision and future prospects.
These developments indicate that Willow Bioscience is making significant strides in its mission to advance pharmaceutical research and contribute to the development of innovative therapies and treatment options. With a focus on expanding its product portfolio and securing essential funding, the company is poised to play a pivotal role in the pharmaceutical and nutraceutical industries.
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Willow Biosciences Inc.
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