WILLOW BIOSCIENCES PUBLISHES THE FIRST PEER REVIEWED ARTICLE DEMONSTRATING THE CLINICAL BENEFIT OF CBG FOR SKINCARE

VANCOUVER, BC, Jan. 19, 2022 /PRNewswire/ - Willow Biosciences Inc. (“Willow” or the “Company”) (TSX: WLLW) (OTCQB: CANSF), a leading biotechnology company that manufactures pure, consistent and sustainable cannabinoids via yeast biosynthesis, is pleased to announce the results of its in vitro analysis and the first to be reported topical clinical study on cannabigerol (“CBG”). In collaboration with Signum Biosciences, Inc. Willow’s FutureGrown^TM CBG, produced using its proprietary yeast platform at multi-kilogram scale, demonstrated antioxidant, anti-inflammatory, and skin health-boosting activity in lab assays, and provided similar benefits when applied topically to human skin. A single-blind clinical study in 20 healthy male and female volunteers conducted at Princeton Consumer Research (the “Willow Study”) showed Willow’s FutureGrown^TM CBG clinically reduces skin inflammation, the appearance of redness, and improves barrier function. The results of the Willow Study were published in Molecules, a leading international, peer-reviewed, open access journal that can be found here at https://www.mdpi.com/1420-3049/27/2/491/htm.

“Willow’s FutureGrown^TM CBG continues to exhibit great promise as an exciting new skincare ingredient”, said Trevor Peters, Willow’s President and Chief Executive Officer. “We are excited to share the results of our in vitro and clinical work with our stakeholders and proud to have it published in a peer reviewed scientific journal, the first of its kind for CBG. As the market for CBG and CBGA continues to develop, key studies such as this help to define the potential these ingredients have in the health and wellness space.”

The Willow Study reports that biosynthetically produced CBG possesses a broad range of anti-inflammatory, antioxidant, and skin protecting properties to help slow inflammation, aging, and boost skin barrier function. Gene array analysis of CBG and cannabidiol (“CBD”) applied topically to a 3D human skin model demonstrates that CBG outperforms CBD, selectively targeting collagen, elastin and other key skin health and hydration genes. Moreover, in vitro studies in normal human epidermal keratinocytes (NHEKs) and human dermal fibroblasts (HDFs) show that CBG and CBD both possess strong antioxidant and anti-inflammatory properties, with CBG demonstrating equal if not better activity than CBD. Lastly, the Willow Study is the first to report the clinical effectiveness of topically applied CBG, demonstrating that a 0.1% CBG serum reduces inflammation, redness, and improves the skin barrier significantly better than a placebo.

Learn more about Willow’s FutureGrown^TM CBG: www.willowbio.com/#products

Request samples of Willow’s FutureGrown^TM CBG: info@willowbio.com

About Willow Biosciences Inc.

Willow is a leading biotechnology company that develops and produces high-purity, plant derived ingredients for the consumer care, food and beverage, and pharmaceutical markets. Willow’s FutureGrown^TM biotechnology platform allows scale production of pure, consistent, and sustainable product to benefit both B2B and B2C customers. Willow’s R&D team has a proven track record of developing and commercializing bio-based manufacturing processes and products for both the consumer and pharmaceutical industries.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and the Company’s assessment of future plans and operations, and, more particularly, statements concerning: the results of the Willow Study, including the clinical benefits of CBG for skincare; Willow’s FutureGrown^TM CBG; and the business plan of the Company, generally, including cannabinoid research and production. When used in this news release, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company and, with respect to the Willow Study, Signum Biosciences which include, but are not limited to: the expectations and assumptions set forth in the published results of the Willow Study; the success of Willow’s strategic partnerships, including the development of future strategic partnerships; the financial strength of the Company; the ability of the Company to fund its business plan using cash on hand and existing resources; the market for Willow’s products; the ability of the Company to obtain and retain applicable licences; the ability of the Company to obtain suitable manufacturing partners and other strategic relationships; and the successful implementation of Willow’s commercialization and production strategy, generally. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with: the cannabinoid industry in general; the success of the Company’s research and development strategies; infringement on intellectual property; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; import/export and research restrictions for cannabinoid-based operations; the size of the medical-use and adult-use cannabinoid market; competition from other industry participants; adverse U.S., Canadian and global economic conditions; adverse global events and public-health crises, including the current COVID-19 outbreak; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s most recent annual information form and management’s discussion and analysis for additional risk factors relating to Willow, which can be accessed either on Willow’s website at www.willowbio.com or under the Company’s profile on www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

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SOURCE Willow Biosciences Inc.