06:15:06 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 473,796,641
Close 2023-10-24 C$ 0.64
Market Cap C$ 303,229,850
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Aurora Cannabis settles patent litigation with Willow

2023-10-24 09:21 ET - News Release

Mr. Miguel Martin reports

AURORA CANNABIS ANNOUNCES SETTLEMENT OF PATENT LITIGATION

Aurora Cannabis Inc. and Willow Biosciences Inc. have successfully completed a confidential settlement resolving the continuing patent litigation between the two parties in Canada.

"We are pleased with the negotiated settlement, which provides Aurora a favourable resolution that ensures our Canadian cannabis-related patent rights are respected," said Miguel Martin, chief executive officer of Aurora. "Aurora is a pioneer in terms of the company's genetics work in the Canadian cannabis industry and will not hesitate to continue to take the steps necessary, including legal action, to protect and enforce our intellectual property rights when necessary."

Aurora commenced a patent infringement action in July, 2021, alleging that Willow's biosynthetic process for synthesizing cannabinoids infringed Aurora's exclusive rights to patents co-owned by the University of Saskatchewan and the National Research Council (NRC). The technology of the asserted patents was invented by Jonathan Page, Anandia co-founder and former chief science Officer at Aurora, and his colleagues following their work at the University of Saskatchewan and the NRC, identifying key enzymes and corresponding genes in the biosynthetic pathways of cannabis plants.

In December, 2022, Willow announced that it had consolidated its R&D (research and development) operations, transferring equipment and key personnel from its Canadian facilities to Mountain View, Calif.

Aurora continues to advance the company's leadership in genomic research and novel innovation that will differentiate the company's position as a global leader.

About Aurora Cannabis Inc.

Aurora is opening the world to cannabis, serving both the medical and consumer markets. Headquartered in Edmonton, Alta., Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. as well as international brands Pedanios, Bidiol and CraftPlant. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. 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 wherever they are launched.

Aurora's common shares trade on the Nasdaq Stock Market and the Toronto Stock Exchange under the symbol ACB.

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