DNA - Cronos Ginkgo Bioworks achieve third target milestone for cannabinoids

Canadian cannabis company Cronos Group (NASDAQ:CRON) and Ginkgo Bioworks (DNA), a U.S.-based developer of platforms for cell programming announced on Tuesday the achievement of the third target productivity milestone in their collaboration to produce cultured cannabinoids. Using Ginkgo’s (DNA) platform, Cronos (CRON) has reached the productivity target for tetrahydrocannabivarin (THCV), a cannabinoid designed to reduce the appetite-enhancing property of THC. With the achievement of the final productivity target for THCV, Cronos (CRON) has issued Ginkgo nearly 2.2M of common stock. The partnership between Ginkgo (DNA) and Cronos (CRON) was launched in 2018 to develop eight cultured cannabinoids. In Aug. 2021, the companies disclosed they reached the first equity milestone for cannabigerolic acid (CBGA). Ginkgo (DNA) was expected to receive approximately 1.5M shares of Cronos (CRON) common shares in connection with that achievement.

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Cronos, Ginkgo Bioworks achieve third target milestone for cannabinoids