Organigram Holdings (TSXV:OGI) announced a strategic investment of Hyasynth Biologicals.
As quoted in the press release:
Organigram Holdings, the parent company of Organigram Inc. (the “Company” or “Organigram“), a leading licensed producer of medical marijuana, is pleased to announce the closing of its strategic investment in convertible secured debentures (the “Debentures“), to be purchased in three tranches and valued in the aggregate at $10 million, of Hyasynth Biologicals Inc. (“Hyasynth“), a biotechnology company based in Montreal and leader in the field of cannabinoid science and biosynthesis.
Hyasynth’s patent-pending enzymes, yeast cells and processes make it possible to produce phytocannabinoids and phytocannabinoid analogues in genetically modified strains of yeast. Hyasynth’s proprietary enzymes and yeast strains have to date allowed them to make CBG, CBD and other cannabinoids for novel and specialized products, including vapourizable cannabis products and cannabis-infused beverages, as well as pharmaceutical ingredients, for a fraction of the cost of traditional plant-based production. The company will continue to develop a comprehensive platform of cannabinoids beyond THC, CBD and CBG for both medical and recreational use.
“Hyasynth’s technology offers us access to the future of cannabinoid production today,” says Greg Engel, CEO, Organigram. “We know that cost-efficiency and scalability will be necessary to meet the needs of the Canadian and the global cannabis markets. Working with Hyasynth, we can throw out old assumptions about the scale, speed and precision with which we can produce both extract-based medical products and a comprehensive and diverse range of recreational use products like edibles and beverages.”