22nd Century Group has secured an exclusive agreement with CannaMetrix for the use of that company’s proprietary human cell-based testing CannaMetrix EC50Array technology. The technology will enable 22nd Century to accelerate the commercialization of new disruptive hemp/cannabis plant lines and intellectual property.
Since reporting third quarter earnings, 22nd Century has refocused its hemp/cannabis strategy to target the upstream segments of the cannabinoid value chain. In particular, the company seeks to accelerate the delivery of valuable commercial-scale plant lines and intellectual property for the life science, consumer product and pharmaceutical end-use markets.
With the addition of CannaMetrix, 22nd Century has now secured four out of the five key partnerships needed to maximize each component in the upstream segment of the cannabinoid value chain: plant profiling (CannaMetrix), plant biotechnology (KeyGene), plant cultivation (Panacea-Needle Rock Farm) and ingredient extraction/purification (Panacea). The company is also in final discussions with top-tier plant breeders that will be announced soon.
“22nd Century is extremely excited to add CannaMetrix into our secured network of value chain partners to increase the speed at which we develop and offer disruptive plant lines and intellectual property for the hemp/cannabis industry. For example, a plant line that would typically take 10 years or longer to develop can now be achieved in two years,” said James A. Mish, CEO of 22nd Century Group, in a statement.
“We are thrilled to collaborate with 22nd Century Group,” stated Harold Smith, founder and CEO of CannaMetrix. “They are the ideal partner, bringing decades-long experience in plant biotechnology with unmatched ability in developing valuable commercial plant lines. We believe that through this exclusive partnership, the development of new hemp/cannabis lines for large-scale cultivation and production will advance at a rapid pace and transform the hemp/cannabis industry.”