Cronos Group Inc (NASDAQ: CRON) and Ginkgo Bioworks Holdings Inc (NYSE: DNA) achieved a milestone in their joint research on the therapeutic potential of THCV, which is known as tetrahydrocannabivarin, or THCV for short, a new cannabis derivative. The two companies have partnered to create a cannabis-based drug for the treatment of epilepsy that contains THCV, which is believed to be safer than other forms of cannabis.
What does this milestone mean?
The milestone means that Cronos Group has successfully grown at least one strain of THCV cannabis and delivered it to Ginkgo for processing into their final product. This was a major step forward in the process of creating a new strain of medical marijuana that can be used by patients with certain ailments who need to take a low dose of THCV per day.
To understand THCV’s therapeutic potential, researchers at Cronos and Ginkgo have been working together since 2016 to develop a medication based on this cannabinoid. They have now reached an important milestone with the development of a pharmaceutical-grade solution that can be used in human trials.
The two companies will continue their collaboration by conducting clinical trials on this new drug’s effectiveness in people with epilepsy. Once these trials are completed, Cronos will begin commercial production at its facilities in Canada, while Ginkgo will manufacture the product for distribution through its global channels.
In an interview with The Globe and Mail, Neil Marriner, the CEO of Cronos Group, said that this development would help them create more effective medicines for people with chronic pain issues like arthritis or multiple sclerosis. He said they are now looking forward to creating new strains of medical marijuana to help them meet this goal.
In addition to its commitment to the scientific development of cannabinoid-based medicines for patients with chronic pain, Cronos Group has partnered with Ginkgo Bioworks to manufacture and supply many of these products for sale in Canada as other countries around the world.