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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 198,018,343
Close 2021-05-27 C$ 10.83
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Aurora Cannabis forms science, innovation business unit

2021-05-27 10:49 ET - News Release

Mr. Miguel Martin reports


Aurora Cannabis Inc. has launched a dedicated science and innovation business group, with the aim of commercializing patented and patent-pending technology that the company believes will be key in the development of cannabinoid biosynthesis and plant genetics.

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. Through licensing agreements, Aurora and sublicensee 22nd Century Group together share the global IP (intellectual property) 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 opportunities.

"As global cannabis regulations evolve, we believe cannabinoid molecules, including minor cannabinoids, will be incredibly important. Today, Aurora's Reliva business in the U.S. sells products that use CBD [cannabidiol] isolate, and we are deeply interested in the evolution of other cannabinoids and the ability to commercialize them," said Miguel Martin, chief executive officer of Aurora Cannabis. "This technology promises to be very valuable as it potentially unlocks a more efficient means to produce cannabinoids at scale, particularly minor cannabinoids, which typically occur in the plant at very low levels, less than 1 per cent. We've created a separate science and innovation business to capitalize on the tremendous potential we see in this emerging space."

Currently, the company is exploring ways to optimize the cannabinoid biosynthesis pathway within the plant itself using its IP. Aurora and 22nd Century Group intend to leverage Aurora's best-in-class research facility, Aurora Coast in British Columbia, where advanced breeding and genetics technologies, coupled with sensory and consumer research, are used to create new and differentiated cultivars for consumers and patients. The research facility screens thousands of unique cultivars every year to deliver a handful of elite candidates. New cultivars from its breeding program are currently with leading licenced producers, both large scale and craft, for trials and production.

"At Aurora, innovation is integral to every aspect of our company," said Charles Pick, senior vice-president of science and innovation at Aurora Cannabis. "With the formalization of a science and innovation business unit, we anticipate being in a position to quickly bring a wide array of products to the market, to meet the diverse consumer and patient needs we are seeing globally."

About Aurora Cannabis Inc.

Aurora is a global leader in the cannabis industry 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 brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler and Reliva CBD. Providing customers with innovative, high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched.

Aurora's common shares trade on the Toronto Stock Exchange and Nasdaq Stock Market under the symbol ACB and is a constituent of the S&P/TSX Composite Index.

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