Mar 16, 2020   SOURCE: PR NewsWire

Avida Global Signs Agreement With Drug Science

LONDON, March 16, 2020 /PRNewswire/ -- Avida Global, the British company aiming to be a world leader in the production of high-grade cannabis oils and isolates, has been invited to join the Drug Science Medicinal Cannabis Working Group (MCWG).

The MCWG is a consortium of Drug Science experts, industry partners, patient representatives and policy makers that will develop approaches to improving access of medical cannabis in the UK. It was launched in 2019 by Drug Science, the UK's leading independent scientific body on drugs.

David Badcock, Drug Science CEO, said, "We are delighted that Avida Global have joined the Drug Science Medical Cannabis Working Group. Our shared vision, which will accelerate access of medical cannabis to patients who need it the most, will be greatly enhanced by the support provided the Avida Global team."

The agreement follows Avida Global's recent strengthening of its management team. Ben Iversen joined as its new Chief Finance Officer (CFO) and world-renowned medicinal cannabis expert, Dr Maymon-Pomeranchik, joined its advisory board. Chaired by Lord Mancroft, who has been described as the 'most knowledgeable parliamentarian on the subject of drugs', Avida Global aims to be the world's leading B2B producer of high-grade cannabis oils and isolates.

Drug Science Founder and Chair of the Scientific Committee, Professor David Nutt, said, "Having Avida Global as part of the team gives us an opportunity to collaborate with much of the exciting clinical research work, they are undertaking in the UK, Israel and Colombia."

"Avida Global is delighted to partner with the Drug Science Medicinal Cannabis Working Group," commented David Kirby, CEO Avida Global. "Improving education, access and the quality of medicinal cannabis in the UK is critical to helping improve the lives of millions of people."

Notes to Editors:

About Avida Global

Avida Global is based in London, England, and was incorporated in 2018. It has 40 hectares licenced for growth on a dedicated farm in north-east Colombia, considered to be one of the best global locations for cultivation of its top-quality plants and availability of highly skilled experts.

All of its facilities will operate to the highest GMP standards and the first commercial batch of high-quality oils will be available in Q4 2020. As a business-to-business supplier it will supply more than 10 tonnes of oil and isolates to the global market.

About the market

    --  Global Cannabis market is estimated to be c.US$150 billion today
    --  Expected to grow to $272 billion by 2028
    --  Medical cannabis market alone expected to reach US$55 billion by 2023
    --  CBD market is expected to grow to US$17.3 billion by 2026

About Drug Science

Drug Science is a leading international voice on the scientific, ethical and political developments regarding medical cannabis.

    --  In 2016 Drug Science's cannabis report prompted the first WHO cannabis
        review in over 80 years.
    --  In 2017, Professor David Nutt spent 10 days providing evidence to the
        South African courts, leading to its decision to reform its cannabis
        laws.
    --  In 2019, Drug Science held its first symposium 'Cannabis medicines: from
        principle to practice. How can we maximise clinical research and
        benefits?' in order to move the field forward in the UK - from theory to
        practice.
    --  In 2019, Drug Science also launched Project Twenty21, Europe's first and
        biggest national medical cannabis registry.

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SOURCE Avida Global Limited