Biotech Institute and Booshoot have finalized a technology licensing agreement that they say will set a new standard for the propagation of hemp and cannabis. The deal grants Biotech Institute exclusive rights to Booshoot’s innovative proprietary micropropagation methods enabling renewable, sustainable plant production on a mass scale without genetic modification at a fraction of the cost of traditional propagation.
"Following exhaustive, global due diligence on the various technology players in the space, it was clear that Biotech Institute’s forward-looking mindset, focus on product efficacy and safety, and successful innovation-focused breeding made it the most obvious home for our technology," said Heinricher. "Our technology’s track record speaks for itself [referencing the application of the Booshoot technology to the mass propagation of ornamental and timber bamboo]; the opportunity to integrate our technology with Biotech Institute’s genetics portfolio will make a significant impact on the progress of the cannabis and hemp industries and was one that we could not pass on."
"This micropropagation technology lowers plant costs, exponentially increases the ability to propagate unprecedented numbers of plants, and eliminates disease and pests pressure, while spawning plants with performance and yields that in many instances are superior to seedlings," said Biotech Institute President Gary Hiller.