- A joint development agreement signed with Noramco Inc., the world’s largest producer of chemically synthesized cannabinoids and pharmaceutical APIs, is expected to scale the development of Willow’s CBD biosynthesis program
- The collective market for CBD sales in the U.S. is expected to exceed $20 billion by 2024, while the cannabinoid-based pharmaceuticals market may reach $50 billion by 2029
- Synthetic biology is expected to disrupt the cannabinoid industry supply chain, providing access to new and larger markets for CBD and related compounds
Willow Biosciences Inc. (CSE: WLLW), a leading developer of biosynthetic production systems for high-value, plant-derived active pharmaceutical ingredients (APIs) and intermediates, is pursuing the burgeoning CBD market with a world-class partner. Willow recently announced a joint development agreement (JDA) with Noramco Inc., a leading manufacturer of cannabinoids, to collaboratively develop a yeast-based biosynthesis platform for the production and distribution of cannabidiol (CBD) (http://nnw.fm/8YcLU).
The JDA is mutually exclusive and creates an enviable arrangement designed to take advantage of each company’s unique and compelling skillsets, the news release notes. The JDA requires each company to…
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