CRON Cannabinoids productivity milestone.
CRON is a LONG
Cronos Group (CRON) and Ginkgo Bioworks (DNA), a U.S.-based developer of platforms for cell programming, announced on Tuesday the achievement of the third target productivity milestone in their collaboration to produce cultured cannabinoids. Using Ginkgo’s (DNA) platform, Cronos (CRON) has reached the productivity target for tetrahydrocannabivarin (THCV), a cannabinoid designed to reduce the appetite-enhancing property of THC. With the achievement of the final productivity target for THCV, Cronos (CRON) has issued Ginkgo (DNA) nearly 2.2M of common stock. The partnership between Ginkgo (DNA) and Cronos (CRON) was launched in 2018 to develop eight cultured cannabinoids. In August. 2021, the companies disclosed they reached the first equity milestone for cannabigerolic acid (CBGA). Ginkgo (DNA) was expected to receive approximately 1.5M shares of Cronos (CRON) common shares in connection with that achievement.
Spain set to approve medical use.
A committee in Spain’s Congress of Deputies approved a draft to regulate medical cannabis sales in the country. This draft will be sent further to the health committee for another important vote next week and if approved, the Spanish Medicines Agency has six months to adopt the draft into regulations. It is expected that the distribution of medically prescribed cannabis will be distributed in pharmacies throughout the country. mjbizdaily.com
Louisiana moving in the right direction, but not there yet.
Yesterday, the Louisiana governor, John Del Edwards (D), passed 10 bills related to medical cannabis access. Some of the highlights of these bills included increasing the number of medical dispensaries an operating can have in the state as well as some policing reform as it relates to cannabis. “Not long ago, Louisiana had perhaps the harshest cannabis laws in the nation and no medical cannabis program,” said Karen O’Keefe, director of state policies at the Marijuana Policy Project (MPP). “Louisiana has made steady progress since then, and that trend continued in 2022.” Though many in the state are waiting for broader adult-use legislation, the moves yesterday can at least be seen as a move in the right direction. marijuanamoment.net
