Saturday , May 15 2021

Bet on new cannabis company

The $ 255 million agreement to turn sugar into a cannabis formula opens the door to the marijuana era without plants.

Amyris is already working with genetically engineered yeast that designer molecules excrete to make sweeteners and skin care products. Now he plans to use fermentation technology to convert sugarcane syrup into an active ingredient found in marijuana, a company in California said on Tuesday. These ingredients can be used in consumer products ranging from beverages to skin creams and deodorants.

The initial focus of the project is to produce cannabidiol (CBD), which is used to treat medical conditions such as anxiety or insomnia. But Amyris and his anonymous partners point to several cannabidiol molecules that have medical and therapeutic uses in a non-psychotic state, Beth Bannerman spokesman said on the phone. THC, the hallucinogenic molecule that drives people, is not an approach.

"We share our partner's mission to become a leader in sustainable origin CBD products with a focus on revitalizing the global market for beverages and skincare," said Amyris Ismailelo, in a statement.

Rival project

Amyris' s adventure joins two small conventions announced in September aimed at the cannabinoids entry. Marijuana producers Cronos Group has made a $ 122 million partnership with Ginkgo Bioworks and Organigram Holdings has acquired 7.6 million from Hyasynth Biologicals Announced a strategic investment of US $.

Amyris said that CBD and other cannabinoids can be controlled in quality and dosage by manufacturing during the brewing process. Removing the plant from the equation makes the molecule completely pesticide-free.

The marijuana molecules produced by Amyris can be used in the company's current product list, Bannerman said. Amyris manufactures Biossance, a skin care line sold at Sephora's cosmetics store, and recently launched a zero-calorie beverage sweetener.

Drinks with infusion

As cannabis is legitimate in Canada and the CBD extracted from cannabis is legitimate in the United States, there is growing interest in marijuana-infused beverages. Canadian Canopy Growth The marijuana company is investing $ 150 million in facilities in New York to extract CBD from hemp.

The Corona beer company Constellation Brands invested $ 38 million in Canopy Growth and Molson Coors Brewing started a joint venture with Hexo in Québec to sell non-alcoholic cannabis beverages. Even Coca-Cola said it did not plan to enter the market but was interested in CBD injected beverages.

Amyris said his agreement would include a three-year payment after the final agreement was signed and that the business could pay $ 255 million in cash if it is commercially viable. The company said it will add royalties on its commercial products. Details of this partnership will be available in March, Bannerman said.

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