Cronos Group Inc. and Ginkgo Bioworks announced the achievement of 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 an 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.
In August 2021, Ginkgo and Cronos announced the achievement of its first equity milestone for cannabigerolic acid (CBGA). In October 2021, Cronos launched its first cultured CBG product, SPINACH FEELZ Chill Bliss 2:1 THC|CBG gummy, which quickly gained consumer awareness, and according to Hifyre data, has achieved 2.4% market share in the gummies category in Canada as of the week-ended June 11, 2022. Cronos went on to launch its SPINACH FEELZ Chill Bliss 7:1 THC|CBG vape in January 2022.
“Continuing to hit these productivity milestones in partnership with Ginkgo fuels our innovation pipeline focused on creating borderless products utilizing rare cannabinoids that amplify and differentiate the consumer experience,” said Mike Gorenstein, Chairman, President, and CEO of Cronos. “We are excited about the possibilities that THCV is expected to give us and look forward to getting more products with rare cannabinoids into the market.”
“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,” said Jason Kelly CEO and Co-Founder of Ginkgo. “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 Ginkgo approximately 2.2 million common shares.
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Cronos Group Inc.
www.thecronosgroup.com