NASDAQ | TSX: ACB
Company affirms commitment to enforce and
defend intellectual property rights
EDMONTON, AB, Oct. 24,
2023 /PRNewswire/ - Aurora Cannabis Inc. (NASDAQ:
ACB) (TSX: ACB), the Canadian company opening the world to
cannabis, today announced the company and WILLOW BIOSCIENCES, INC.
("Willow") have successfully completed a confidential settlement
resolving the ongoing patent litigation between the two parties in
Canada.
"We are pleased with the negotiated settlement, which provides
Aurora a favourable resolution that ensures our Canadian cannabis
related patent rights are respected," says Miguel Martin, Chief Executive Officer of
Aurora. "Aurora is a pioneer in terms of the company's genetics
work in the Canadian cannabis industry and will not hesitate to
continue to take the steps necessary, including legal action, to
protect and enforce our intellectual property rights when
necessary."
Aurora commenced a patent infringement action in July 2021, alleging that Willow's biosynthetic
process for synthesizing cannabinoids infringed Aurora's exclusive
rights to patents co-owned by the University
of Saskatchewan and the National
Research Council (NRC). The technology of the asserted
patents was invented by Anandia co-founder and former Chief
Science Officer at Aurora, Jonathan
Page and his colleagues, following their work at the
University of Saskatchewan and the NRC,
identifying key enzymes and corresponding genes in the biosynthetic
pathways of cannabis plants.
In December 2022, Willow announced
that it had consolidated its R&D operations, transferring
equipment and key personnel from its Canadian facilities to
Mountain View, California.
Aurora continues to advance the company's leadership in genomic
research and novel innovation that will differentiate the company's
position as a global leader.
About Aurora:
Aurora is opening the world to cannabis, serving both the
medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in
global cannabis, dedicated to helping people improve their lives.
The Company's adult-use brand portfolio includes Aurora Drift, San
Rafael '71, Daily Special, Whistler, Being and Greybeard. Medical
cannabis brands include MedReleaf, CanniMed, Aurora and Whistler
Medical Marijuana Co, as well as international brands, Pedanios,
Bidiol and CraftPlant. Aurora also has a controlling interest in
Bevo Farms Ltd., North America's
leading supplier of propagated agricultural plants. Driven by
science and innovation, and with a focus on high-quality cannabis
products, Aurora's brands continue to break through as industry
leaders in the medical, performance, wellness and adult
recreational markets wherever they are launched. Learn more at
www.auroramj.com and follow us on X and LinkedIn.
Aurora's common shares trade on the NASDAQ and TSX under the
symbol "ACB".
Forward-looking
Information
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements made in this news
release include, but are not limited to, statements with respect to
the Company's commitment to enforce and defend its intellectual
property rights, and the continued advancement of the Company's
leadership in genomic research and novel innovation and the
expected impact on the Company as a global leader.
These forward-looking statements are only predictions. Forward
looking information or statements contained in this news release
have been developed based on assumptions management considers to be
reasonable. Material factors or assumptions involved in developing
forward-looking statements include, without limitation, publicly
available information from governmental sources as well as from
market research and industry analysis and on assumptions based on
data and knowledge of this industry which the Company believes to
be reasonable. Forward-looking statements are subject to a variety
of risks, uncertainties and other factors that management believes
to be relevant and reasonable in the circumstances could cause
actual events, results, level of activity, performance, prospects,
opportunities or achievements to differ materially from those
projected in the forward-looking statements. These risks include,
but are not limited to, the ability to retain key personnel, the
ability to continue investing in infrastructure to support growth,
the ability to obtain financing on acceptable terms, the continued
quality of our products, customer experience and retention, the
development of third party government and non-government consumer
sales channels, management's estimates of consumer demand in
Canada and in jurisdictions where
the Company exports, expectations of future results and expenses,
the risk of successful integration of acquired business and
operations, management's estimation that SG&A will grow
only in proportion of revenue growth, the ability to expand and
maintain distribution capabilities, the impact of competition, the
general impact of financial market conditions, the yield from
cannabis growing operations, product demand, changes in prices of
required commodities, competition, and the possibility for changes
in laws, rules, and regulations in the industry, epidemics,
pandemics or other public health crises, including the current
outbreak of COVID-19, and other risks, uncertainties and factors
set out under the heading "Risk Factors" in the Company's annual
information form dated June 14, 2023
(the "AIF") and filed with Canadian securities regulators available
on the Company's issuer profile on SEDAR
at www.sedar.com and filed with and available on the
SEC's website at www.sec.gov. The Company cautions that the
list of risks, uncertainties and other factors described in
the AIF is not exhaustive and other factors could also
adversely affect its results. Readers are urged to consider the
risks, uncertainties and assumptions carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such information. The Company is under no obligation,
and expressly disclaims any intention or obligation, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable securities law.
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SOURCE Aurora Cannabis Inc.