Full Press Release Details
Aurora and 22nd Century Group License Foundational
Biosynthesis IP to Cronos Group
Licensing deal set to assist
in the advancement of research and development for cannabinoid biosynthesis
EDMONTON, AB, Dec. 14, 2021 /CNW/ - Aurora Cannabis
Inc. (NASDAQ: ACB) (TSX: ACB) ("Aurora"), the Canadian company defining the future of cannabinoids worldwide, together
with 22nd Century Group, Inc. (NASDAQ: XXII) ("22nd Century") announced today a three-way non-exclusive agreement to license
biosynthesis intellectual property to Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos Group"), intended to assist
in the advancement of research and development on the biosynthesis of cannabinoids.
Biosynthesis, a process common in the pharmaceutical
industry, involves using living micro-organisms to convert simple substances into complex compounds. Through biosynthesis, cannabinoids,
particularly those that are rare such as cannabigerol (CBG), cannabichromene (CBC) and cannabinol (CBN), are expected to be produced efficiently
and reliably at high levels of purity.
"We are deeply interested in the evolution of
cannabinoids, and this is a promising step toward the commercialization of cannabinoid products using biosynthesis," says Miguel
Martin, Chief Executive Officer of Aurora. "The long-term potential for rare cannabinoid molecules produced through biosynthesis
is incredibly promising given their efficient production methods, and potential therapeutic benefits and utility in health, wellness,
and consumer products."
Aurora's connection to the biosynthetic production
of cannabinoids originated with early work carried out by the Company's former Chief Science Officer on the discovery of key genes within
the cannabinoid biosynthesis pathway.
"This license combines the resources and intellectual
property of all three companies in this agreement intended to facilitate the commercial success of a biosynthetic approach, which complements
the disruptive plant-based advancements 22nd Century and Aurora continue to develop to bring more consistent and higher yields to the
hemp and cannabis industry," said James A. Mish, Chief Executive Officer of 22nd Century Group. "We believe that the availability
of both plant-based and biosynthetic cannabinoids will be important to the commercial success of our industry, and this agreement positions
22nd Century, Aurora and Cronos Group with an important role in each approach."
"Cronos Group has successfully commercialized
the first cultured cannabinoid product in Canada. Licensing this intellectual property provides us with a component of the process that
could allow for increased speed and efficiency in the development and commercialization of cultured cannabinoids," said Kurt Schmidt,
President and Chief Executive Officer, Cronos Group.
Through licensing agreements, Aurora and 22nd Century
Group together share the global IP rights to commercialize key aspects of cannabinoid biosynthesis in plants and micro-organisms. The
two companies are working closely to enforce their IP against infringing parties, as well as to actively explore commercial development
Aurora is a global leader in the cannabis industry, serving both the medical and consumer markets. Headquartered in Edmonton,
Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. The Company's brand portfolio includes
Aurora, Aurora Drift, San Rafael '71, Daily Special, MedReleaf, CanniMed, Pedanios, Whistler
Cannabis Co., Reliva and KG7 CBD. Driven by science and innovation, and with a focus on high-quality
cannabis products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets
Aurora's common shares trade on the TSX and NASDAQ under
the symbol "ACB" and is a constituent of the S&P/TSX Composite Index.
About 22nd Century Group, Inc.
22nd Century Group, Inc. (Nasdaq: XXII) is a leading agricultural biotechnology company focused on tobacco harm reduction, reduced
nicotine tobacco and improving health and wellness through plant science. With dozens of patents allowing it to control nicotine biosynthesis
in the tobacco plant, the Company has developed proprietary reduced nicotine content (RNC) tobacco plants and cigarettes, which have become
the cornerstone of the FDA's Comprehensive Plan to address the widespread death and disease caused by smoking. In tobacco, hemp/cannabis,
and hop plants, 22nd Century uses modern plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding
to deliver solutions for the life science and consumer products industries by creating new, proprietary plants with optimized alkaloid
and flavonoid profiles as well as improved yields and valuable agronomic traits.
Learn more at xxiicentury.com, on Twitter @_xxiicentury,
About Cronos Group Inc.
Cronos Group is an innovative global cannabinoid company
with international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property
by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos
Group is building an iconic brand portfolio. Cronos Group's portfolio includes PEACE NATURALS , a global wellness platform,
two adult-use brands, COVE and Spinach , and three U.S. hemp-derived CBD brands, Lord Jones , Happy
Dance and PEACE+ . For more information about Cronos Group and its brands, please visit: thecronosgroup.com.
Forward-looking Information - Aurora
This news release includes statements containing certain "forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "potential", "proposed" and other similar words, or statements that certain events
or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but
are not limited to, statements regarding the use of Aurora and 22nd Century Group's intellectual property to commercialize
cannabinoid products using biosynthesis, and the potential therapeutic benefits and utility of cannabinoid molecules produced
through biosynthesis.
These forward-looking statements are only predictions.
Forward looking information or statements contained in this news release have been developed based on assumptions management considers
to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation,
publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based
on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety
of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could
cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those
projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the
ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued
quality of our products, customer experience and retention, the development of third party government and non-government consumer
sales channels, management's estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future
results and expenses, the risk of successful integration of acquired business and operations, management's estimation that SG&A
will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition,
the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required
commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other
public health crises, including the current outbreak of COVID-19, and other risks, uncertainties and factors set out under the heading
"Risk Factors" in the Company's annual information form dated September 27, 2021 (the "AIF") and filed with Canadian
securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com and filed with and available on
the SEC's website at www.sec.gov. The Company cautions that the list of risks, uncertainties and other factors described
in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and
assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information.
The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Forward-Looking Information - 22nd Century
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements typically contain
terms such as "anticipate," "believe," "consider," "continue," "could," "estimate,"
"expect," "explore," "foresee," "goal," "guidance," "intend," "likely,"
"may," "plan," "potential," "predict," "preliminary," "probable," "project,"
"promising," "seek," "should," "will," "would," and similar expressions. Actual results
might differ materially from those explicit or implicit in forward-looking statements. Important factors that could cause actual results
to differ materially are set forth in "Risk Factors" in the Company's Annual Report on Form 10-K filed on March 11, 2021. All
information provided in this release is as of the date hereof, and the Company assumes no obligation to and does not intend to update
these forward-looking statements, except as required by law.