Ananda Developments - Management accounts for quarter ended 31 July 2024

ANANDA DEVELOPMENTS PLC

("Ananda" or the "Company")

Management accounts for the quarter ended 31 July 2024

Ananda Developments Plc (AQUIS: ANA), a life sciences company focused on the research and clinical development of CBD-based therapies for a range of complex inflammatory pain conditions, announces its unaudited Company management statements for the quarter ended 31 July 2024.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

To stay abreast of the latest developments at Ananda, we encourage you to follow our social media channels which are:  

·      Investor Hub: investors.anandadevelopments.com

·      Instagram: https://instagram.com/anandadevelopments?igshid=YmMyMTA2M2Y=   

·      LinkedIn: https://www.linkedin.com/company/anadevelopments/   

·      Twitter: https://twitter.com/AnandaPlc

·      Investor Meet Company: https://www.investormeetcompany.com/ananda-developments-plc/register-investor

For further information, please contact:

Directors Statement

Introduction

Ananda Developments Plc ("the Company" or "Ananda") is a company quoted on the Aquis Stock Exchange ("AQSE") Growth Market.  The Company was incorporated on 19 January 2018 and its shares were admitted to trading on 4 July 2019.

Below is a summary of activities during the period in question and certain post-period events.

Activities during the period

During the period our work progressing the Phase II clinical trials investigating Chemotherapy Induced Peripheral Neuropathy and Endometriosis was focused mainly on preparing submissions to the ethics board at the MHRA in advance of dosing starting. Ethics is a key step towards dosing commencing in trial patients and for more information on what goes on in the lead up to the clinical trial, please read our blog, which we posted on our Hub here. We are currently finalising a number of other blogs that will form part of the same series on clinical trials and clinical development. Please make sure to sign up to our Hub so you don't miss any.

Also during the period, we announced the encouraging results of the  pre-clinical study we ran in partnership with Robert Gordon University. This trial investigated the use of MRX1, our patent pending CBD-based formulation, in mice with Heart Fibrosis with preserved Ejection Fraction ('HFpEF'). The full announcement can be found here.  In summary;

·    Administration of MRX1 has shown significant cardioprotective effects in a mouse study, demonstrating its potential as a treatment for patients with heart failure with preserved ejection fraction (HFpEF).

·    The research involved detailed assessments of cardiac function, plasma CBD levels, and molecular markers of heart failure, fibrosis, and inflammation.

·    MRX1 exhibited multiple traits which indicate an effectiveness in mitigating cardiac fibrosis and improving heart health.

·    These datas have been included in Ananda's International Patent Application for MRX1.

·    The data was presented on 25 June 2024for the first time at the 9th Federation of European Pharmacological Societies (EPHAR) conference in Athens.

·    The successful outcomes suggest MRX1 could be a valuable therapeutic option for HFpEF and other cardiac conditions and Ananda is currently investigating next steps on how to bring this promising treatment to clinical use.

Ananda also joined the Cannabinoid Research and Development Group, which is co-Chaired by Professor Trevor Jones and George Freeman MP. The group is developing and executing a strategy to establish the UK as a global leader in R&D in cannabinoid science by building a robust ecosystem - integrating universities, research institutions, investors, businesses, and the NHS, to advance the understanding of cannabis and its derivatives.

Lastly, the Company released its annual report and audited accounts to shareholders which is available for all to read here, the case study for CBD on pages 7&8 are particularly worthwhile reading. The Company then held its Annual General Meeting ('AGM') at which all resolutions were passed. We were delighted to have so many people in the room and online and following the proceedings of the AGM, I gave an update presentation to shareholders which can be viewed here.

As always, thank you very much to the entire Ananda team for their tireless efforts to drive the business forward and thanks also to all of our shareholders who have given us their trust and hard earned money. We are excited to deliver for you all.

Melissa Sturgess

Chief Executive Officer

Unaudited Statement of Comprehensive Income for the quarter ended 31 July 2024

There was no other comprehensive income in the period.

The notes which follow form part of these management accounts.