trending Market Intelligence /marketintelligence/en/news-insights/trending/agu3zi3ymfmhlgysbclr0q2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Cronos Group, Ginkgo Bioworks tie up on cannabinoid production

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Cronos Group, Ginkgo Bioworks tie up on cannabinoid production

Cronos Group Inc. and Ginkgo Bioworks Inc. are collaborating to produce cultured cannabinoids.

Under the exclusive partnership, Ginkgo, a Boston-based biotechnology company, will work with Cronos on the research and development of microorganisms capable of producing certain target cannabinoids.

Cronos will fund certain R&D and foundry expenses expected to be about US$22 million, subject to the achievement of certain milestones.

Upon Ginkgo's demonstration that the microorganisms are capable of producing the target cannabinoids above a minimum productivity level, Cronos will issue up to about 14.7 million common shares.

Assuming all milestones are met, the transaction's value would total US$100 million.

Cronos will have the exclusive right to use and commercialize the key patented intellectual property related producing the target cannabinoids globally.

Cronos, a Toronto-based cannabis company, intends to produce and distribute the target cannabinoids globally and has received confirmation that this method of production is permitted under the Cannabis Act of Canada.