Licensing deal set to assist in the
advancement of research and development for cannabinoid
EDMONTON, AB, Dec. 14, 2021 /PRNewswire/ - Aurora Cannabis
Inc. (NASDAQ: ACB) (TSX: ACB) ("Aurora"), the Canadian company
defining the future of cannabinoids worldwide, together with 22nd
Century Group, Inc. (NASDAQ: XXII) ("22nd Century") announced today
a three-way non-exclusive agreement to license biosynthesis
intellectual property to Cronos Group Inc. (NASDAQ:
CRON) (TSX: CRON) ("Cronos Group"), intended to assist in the
advancement of research and development on the biosynthesis of
Biosynthesis, a process common in the pharmaceutical industry,
involves using living micro-organisms to convert simple substances
into complex compounds. Through biosynthesis, cannabinoids,
particularly those that are rare such as cannabigerol (CBG),
cannabichromene (CBC) and cannabinol (CBN), are expected to be
produced efficiently and reliably at high levels of purity.
"We are deeply interested in the evolution of cannabinoids, and
this is a promising step toward the commercialization of
cannabinoid products using biosynthesis," says Miguel Martin, Chief Executive Officer of
Aurora. "The long-term potential for rare cannabinoid molecules
produced through biosynthesis is incredibly promising given their
efficient production methods, and potential therapeutic benefits
and utility in health, wellness, and consumer products."
Aurora's connection to the biosynthetic production of
cannabinoids originated with early work carried out by the
Company's former Chief Science Officer on the discovery of key
genes within the cannabinoid biosynthesis pathway.
"This license combines the resources and intellectual property
of all three companies in this agreement intended to facilitate the
commercial success of a biosynthetic approach, which complements
the disruptive plant-based advancements 22nd Century and Aurora
continue to develop to bring more consistent and higher yields to
the hemp and cannabis industry," said James
A. Mish, Chief Executive Officer of 22nd Century Group. "We
believe that the availability of both plant-based and biosynthetic
cannabinoids will be important to the commercial success of our
industry, and this agreement positions 22nd Century, Aurora and
Cronos Group with an important role in each approach."
"Cronos Group has successfully commercialized the first cultured
cannabinoid product in Canada.
Licensing this intellectual property provides us with a component
of the process that could allow for increased speed and efficiency
in the development and commercialization of cultured cannabinoids,"
said Kurt Schmidt, President and
Chief Executive Officer, Cronos Group.
Through licensing agreements, Aurora and 22nd Century Group
together share the global IP rights to commercialize key aspects of
cannabinoid biosynthesis in plants and micro-organisms. The two
companies are working closely to enforce their IP against
infringing parties, as well as to actively explore commercial
Aurora is a global leader in the cannabis industry, 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 brand portfolio includes Aurora, Aurora Drift, San
Rafael '71, Daily Special, MedReleaf, CanniMed, Pedanios, Whistler
Cannabis Co., Reliva and KG7 CBD. 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 Twitter and LinkedIn.
Aurora's common shares trade on the TSX and NASDAQ under the
symbol "ACB" and is a constituent of the S&P/TSX Composite
About 22nd Century Group, Inc.
Group, Inc. (Nasdaq: XXII) is a leading agricultural
biotechnology company focused on tobacco harm reduction, reduced
nicotine tobacco and improving health and wellness through plant
science. With dozens of patents allowing it to control nicotine
biosynthesis in the tobacco plant, the Company has developed
proprietary reduced nicotine content (RNC) tobacco plants and
cigarettes, which have become the cornerstone of the FDA's
Comprehensive Plan to address the widespread death and disease
caused by smoking. In tobacco, hemp/cannabis, and hop plants,
22nd Century uses modern plant breeding technologies, including
genetic engineering, gene-editing, and molecular breeding to
deliver solutions for the life science and consumer products
industries by creating new, proprietary plants with optimized
alkaloid and flavonoid profiles as well as improved yields and
valuable agronomic traits.
Learn more at xxiicentury.com, on
Twitter @_xxiicentury, and on LinkedIn.
About Cronos Group Inc.
Cronos Group is an innovative global cannabinoid company with
international production and distribution across five continents.
Cronos Group is committed to building disruptive intellectual
property by advancing cannabis research, technology and product
development. With a passion to responsibly elevate the consumer
experience, Cronos Group is building an iconic brand portfolio.
Cronos Group's portfolio includes PEACE NATURALS™, a global
wellness platform, two adult-use brands, COVE™ and Spinach™, and
three U.S. hemp-derived CBD brands, Lord Jones™, Happy Dance™
and PEACE+™. For more information about Cronos Group and its
brands, please visit: thecronosgroup.com.
Forward-looking Information - Aurora
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 regarding
the use of Aurora and 22nd Century Group's
intellectual property to commercialize cannabinoid products
using biosynthesis, and the potential therapeutic
benefits and utility of cannabinoid molecules produced through
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 September 27, 2021 (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.
Forward-Looking Information – 22nd Century Group
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are
forward-looking statements. Forward-looking statements typically
contain terms such as "anticipate," "believe," "consider,"
"continue," "could," "estimate," "expect," "explore," "foresee,"
"goal," "guidance," "intend," "likely," "may," "plan," "potential,"
"predict," "preliminary," "probable," "project," "promising,"
"seek," "should," "will," "would," and similar expressions. Actual
results might differ materially from those explicit or implicit in
forward-looking statements. Important factors that could cause
actual results to differ materially are set forth in "Risk Factors"
in the Company's Annual Report on Form 10-K filed on March 11, 2021. All information provided in this
release is as of the date hereof, and the Company assumes no
obligation to and does not intend to update these forward-looking
statements, except as required by law.
Forward-Looking Information – Cronos Group
This press release may contain information that may constitute
"forward-looking information" and "forward-looking statements"
within the meaning of applicable Canadian and U.S. securities laws
(collectively, "Forward-Looking Statements"), which are based upon
our current internal expectations, estimates, projections,
assumptions and beliefs. All information that is not clearly
historical in nature may constitute Forward-Looking Statements. In
some cases, Forward-Looking Statements can be identified by the use
of forward-looking terminology such as "expect", "likely", "may",
"will", "should", "intend", "anticipate", "potential", "proposed",
"estimate" and other similar words, expressions and phrases,
including negative and grammatical variations thereof, or
statements that certain events or conditions "may" or "will"
happen, or by discussion of strategy. Forward-Looking Statements
include estimates, plans, expectations, opinions, forecasts,
projections, targets, guidance or other statements that are not
statements of historical fact. Forward-Looking Statements include,
but are not limited to, statements with respect to: the licensed
biosynthesis intellectual property's intended assistance in the
advancement of research and development on the biosynthesis of
cannabinoids; the expectation that cannabinoids, particularly rare
cannabinoids, could be produced efficiently and reliably at high
levels of purity through biosynthesis; Cronos Group's efforts in
the commercialization of cannabinoid products using biosynthesis;
the potential of the long-term market for rare cannabinoid
molecules produced through biosynthesis; the importance of
plant-based and biosynthetic cannabinoids in the commercial success
of the industry; potential increased speed and efficiency of
development and commercialization of cultured cannabinoids; and
Cronos Group's intention to build an international iconic brand
portfolio and develop disruptive intellectual property.
Forward-looking Statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business,
economic and competitive risks, financial results, results,
performance or achievements expressed or implied by those
Forward-looking Statements and the Forward-looking Statements are
not guarantees of future performance. A discussion of some of the
material risks applicable to Cronos Group can be found in Cronos
Group's Annual Report on Form 10-K for the year ended December 31, 2020, Cronos Group's Quarterly
Report on Form 10-Q for the period ended March 31, 2021 and Cronos Group's Quarterly
Report on Form 10-Q for the period ended June 30, 2021, each of which have been filed on
SEDAR and EDGAR and can be accessed at www.sedar.com and
www.sec.gov/edgar, respectively. Any Forward-looking Statement
included in this press release is made as of the date of this press
release and, except as required by law, Cronos Group disclaims any
obligation to update or revise any Forward-looking Statement.
Readers are cautioned not to put undue reliance on any
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SOURCE Aurora Cannabis Inc.