Boston-based startup Ginkgo Bioworks will use Cronos’ labs to produce synthetic marijuana compounds, many of which “have the potential to be valuable in a range of pharmaceutical applications.”
Source: www.businessinsider.com
Start-up company Ginkgo Bioworks has partnered with Toronto-based Cannabis producer, Cronos. Ginkgo Bioworks is known for turning bacteria into consumer goods and more recently had been looking at branching into cannabis. Their technology used to create fragrances and scents would be applied similarly using lab-grown marijuana strains with pharmaceutical potential, precisely why their partnership with the meticulous growers Cronos makes sense. The deal of $122 million announced this week will allow Ginkgo Bioworks to experiment within the Cronos’ lab space and manufacture compounds such as CBD, THC, and THCV into their products, which would be of appeal to many pharmaceutical companies.
