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WILLOW ANNOUNCES FILING OF PATENT APPLICATION FOR PROCESS TO PRODUCE CORTICOSTEROIDS AT SIGNFICANTLY REDUCED COST
WILLOW ANNOUNCES FILING OF PATENT APPLICATION FOR PROCESS TO PRODUCE CORTICOSTEROIDS AT SIGNFICAN...
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[{"type":"text","content":"\n \n \n \n WILLOW ANNOUNCES FILING OF PATENT APPLICATION FOR PROCESS TO PRODUCE CORTICOSTEROIDS AT SIGNFICANTLY REDUCED COST\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Company's BioOxi™-based process reduces number of steps and associated costs of corticosteroids manufacturing by up to two-thirds\n \n \n \n \n \n SUNNYVALE, Calif.\n \n \n ,\n \n \n Aug. 30, 2023\n \n \n /CNW/ - Willow Biosciences Inc. (\"\n \n Willow\n \n \") (TSX: WLLW) (OTCQB: CANSF), a leading biotechnology company focused on revolutionizing industrial manufacturing of pure, consistent, and sustainable functional ingredients, announces the development of a process to produce corticosteroids at significantly reduced cost by utilizing its BioOxi™ platform for efficient bio-hydroxylation that can transform manufacturing.\n \n \n \n \n \n \n \n \n \n \n Corticosteroids Represent Growing Global Multibillion-Dollar Market\n \n \n \n Corticosteroids are broadly used as anti-inflammatory and immunosuppressant drugs. According to independent research firm, ResearchandMarkets, the global corticosteroids market is expected to grow at a CAGR of 4.1% and reach\n \n $5.93 billion\n \n in 2026 and\n \n North America\n \n was the largest region for use of corticosteroids in 2022. A large percentage of corticosteroid production is outside\n \n the United States\n \n , which can pose supply chain security issues for drug manufacturers and potentially lead to drug shortages.\n \n \n \n Willow-Owned Corticosteroid Program Can Disrupt the Market\n \n \n \n Willow's innovative BioOxi process represents a step change by significantly reducing production costs and is expected to be sufficiently competitive to enable greater onshoring of corticosteroid manufacturing, leading to a more secure domestic supply chain.  Coupled with pending patent protection, should it be granted, Willow believes this wholly-owned technology will provide a significant competitive advantage to potential pharmaceutical manufacturing ...