Cronos Group And Ginkgo Bioworks Achieve Rare Cannabinoid THCV Equity Milestone

Cronos Group Inc. CRON CRON and Ginkgo Bioworks DNA achieved the third target productivity milestone in their partnership to produce eight cultured cannabinoids.

Using Ginkgo's platform for organism design and development, Cronos has successfully achieved the productivity target for tetrahydrocannabivarin (THCV), a cannabinoid hypothesized to reduce the appetite-enhancing property of THC. Access to additional rare cannabinoids will support Cronos' innovation pipeline and commercialization strategy.

Launched in 2018 with the goal of accessing rare molecules in the cannabis plant to create innovative and differentiated products that would otherwise be cost-prohibitive, the partnership between Cronos and Ginkgo aims to produce cultured cannabinoids at industrial scale. The program combines Cronos' deep understanding of the biological structure and function of cannabinoids with Ginkgo's vast experience designing microorganisms for the production of cultured products across pharmaceuticals, agriculture and more.

"Working with Cronos to develop innovations in cannabis is an opportunity for us to apply synthetic biology in a way that is helping bring the cannabis industry forward and make a real impact on its market and the customers it serves," stated Jason Kelly, CEO and co-founder of Ginkgo Bioworks. "The progress we've made thus far in our collaboration is a true testament to both the potential of synthetic biology and the world-class teams at Cronos and Ginkgo."

As a result of the achievement of the final productivity target for THCV, Cronos has issued to Ginkgo approximately 2.2 million common shares.

Photo: Courtesy of PRNewsfoto/Ginkgo Bioworks

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